ISLAMABAD, Oct 21: Commerce Secretary Tasneem Noorani has urged the members of Pakistan Pharmaceutical Manufacturers Association (PPMA) to increase their average share of current export of $50 million so as to get maximum share out of the global market of $401 billion.

He was speaking at a meeting of the PPMA convened to remove the bottlenecks in way of export of pharmaceutical products and explore the potential of Pakistani pharmaceutical products in the international market.

Mr Noorani emphasized the need for diversification of the market and taping the potentials in the unexplored markets around the globe as the Pakistani pharmaceutical products quality has been accepted throughout the world and at present its exports reach to more than 55 countries including the developed countries like USA, UK, Sweden etc.

He informed the meeting about the status of incentives provided to the Pharmaceutical Industry during the Trade Policy 2004-05.

The official assured them that due consideration would be given to their suggestions including sending delegations abroad on quarterly basis, early disposal of freight subsidy cases, to look at the problems arising out of Patents Ordinance 2000, fast registration of pharmaceutical products and issuance of Free Sale Certificate.

He said the matters relating to Ministry of Health regarding Central Research Fund (2 per cent), registration of pharma products on priority basis would be taken up with them.