Business news

MINSK, 6 April (BelTA) – Belarusian Deputy Prime Minsiter Vasily Zharko gave an instruction to work out a clear strategy to boost Belalrus’ pharmaceutical exports as he spoke at the nationwide conference on the investment potential of the Belarusian pharmaceutical industry in Minsk on 6 April, BelTA informs.

“It is necessary to establish long-term trading relations with importers of Belarusian medicines and enter more markets. The head of state has set a task: our pharmaceutical exports must account for at least 50% of the total output by 2022. By the 2018 year-end, we need to revise all the manufacturing programs and work out a clear strategy to achieve the goals we have,” Vasily Zharko remarked.

Today, Belarus’ pharmaceutical market is one of the most fast-growing sectors of the national economy, the deputy prime minister added. In his words, in the past five years the country modernized and reequipped the existing enterprises and set up new companies. These measures increased the output and the supplies of medicines to the domestic and foreign markets.

At the moment the Belarusian pharmaceutical companies demonstrate one of the best economic performance indicators in the country. Over the last five years, the pharmaceutical output in Belarus went up 1.7 times (expressed in U.S. dollars). The Belarus’ president’s instruction to increase the share of Belarusian medicines on the domestic market has been fulfilled. Their share in monetary terms made up 53.7% in 2017. The volume of exports grew by a third to reach $147.9 million in 2017.

Over 100 new medicines get registered and become available in Belarus every year.

“The main task of Belarus’ pharmaceutical industry today is to transfer to the innovative model of development which envisages the production of next-generation medicines, faster development of biotechnologies and digitalization of this sector,” Vasily Zharko stated. He called for a greater contribution from the Belarusian science. It is important to engage ambitious young specialists that can create original medicines and pharmaceutical substances, he said. The deputy prime minister also stressed the need for smooth interaction with potential investors.

The conference has brought together representatives of related government bodies and agencies and pharmaceutical companies. They are set to discuss the problems in this sector that have to be reflected in the law. At the end of the conference, a resolution will be adopted to outline the necessary measures to create and develop Belarus’ innovative export-oriented pharmaceutical industry.