Pharmaceutical experts Wednesday called for the amendment of the Bangladesh Patent Act 2022 in line with the changing scenario for the local pharmaceutical industry after the country’s LDC graduation.
Also, they advocated a close collaboration between the government agencies and the private sector in the process.
The pharmaceutical experts made the call during the seminar “Preparedness of Pharmaceutical Sector for LDC Graduation” organised by the Support to Sustainable Graduation Project of the Economic Relations Division (ERD) and Business Initiative Leading Development (BUILD) in Dhaka Wednesday.
At the event, Prime Minister’s Private Industry and Investment Adviser Salman F Rahman called for engaging lobbyist firms in the World Trade Organization (WTO) for the continuation of the Trade-Related Aspects of Intellectual Property Rights (TRIPS) waiver for Bangladesh after its graduation.
He also emphasised the quick operationalisation of Active Pharmaceutical Ingredients (API) parks and called for immediate closure of the obsolete mailbox system, created in 2008 for patent application submission.
ERD Secretary Sharifa Khan called for a stronger partnership between the public and private sectors to prepare the pharmaceutical industry for the post-graduation phase.
Industries Secretary Zakia Sultana assured that the government would work in close collaboration with the private sector to amend the current patent law.
Bangladesh Association of Pharmaceutical Industries (BAPI) President Nazmul Hassan said the issues of affordability and public health should be taken into consideration while granting patents under the law of the country.
Read: JS passes Bangladesh Patents Bill, 2022
BUILD Chair Nihad Kabir emphasised enhancing Bangladesh’s legal expertise for the effective formulation and implementation of intellectual property rights-related provisions.
Dhaka Chamber of Commerce and Industry President Rizwan Rahman said the government needs to set up a biotech park and a genome valley to facilitate biotechnological research. He also called for giving incentives to the pharmaceutical sector like the apparel sector.
Senior Vice-President BAPI and Incepta Pharmaceuticals Managing Director Abdul Muktadir called for negotiation with the WTO for the extension of the TRIPS transition period related to pharmaceutical products for Bangladesh until January 1, 2033, even if the country graduates from the LDC status.
Mohammad Towhidul Islam, professor of law at Dhaka University, said Bangladesh may request the WTO for a country-specific TRIPS waiver.
The pharmaceutical sector of Bangladesh has witnessed exponential growth over the last few decades. The TRIPS waiver for LDCs under the TRIPS agreement is one of the key drivers of such impressive growth.
So, appropriate measures following an action-oriented roadmap are critical to tapping these opportunities and shielding against the erosion of waivers under the TRIPS agreement in the wake of Bangladesh’s LDC graduation in November 2026.
Source: United News of Bangladesh