Pakistan and the Philippines have the potential to raise bilateral trade in pharmaceutical and biological products to $1 billion by shifting focus toward modern medicines, vaccines and advanced medical tools, according to Abdul Razzaq Siddiq, a Pakistani businessman based in the Philippines.
Speaking to the media, Siddiq, who serves as president of Second World Traders Inc, said the pharmaceutical and biological sectors offered strong opportunities for trade diversification and could play a central role in strengthening both economic and healthcare cooperation between the two countries.
He said a Philippines based pharmaceutical company has recently established a subsidiary office in Islamabad, a move he described as a reflection of rising investor confidence and growing interest in deeper engagement with Pakistan’s healthcare market. He added that the development opens avenues for supply chain integration, technology transfer and local manufacturing.
Siddiq disclosed that the company plans to begin by importing 10 million doses of Tetanus Toxoid vaccine to help address shortages in Pakistan, with a longer term plan to gradually localise production.
He further said future initiatives under discussion include the production of anti rabies serum in partnership with the Dow Institute of Life Sciences, as well as the manufacture of anti cancer medicines.
