ISLAMABAD: Minister for Commerce Syed Naveed Qamar stressed need for collective efforts to boost pharmaceutical exports upto $ 1 billion by 2025 and by $ 5 billion by 2030 to improve exchange reserves of country.

Realising export potential of pharmaceutical sector, he said government, pharma industry players and regulatory bodies should join together to tap true potential of this particular sector and help economic development of country.

Speaking at 6th Pakistan Pharma Summit and Pharma Export Summit and Awards (PESA) 2023, he outlined government's plans to significantly increase Pakistan's pharmaceutical exports.

Event was organised by Pakistan Pharmaceutical Manufacturers' Association (PPMA), brought together industry leaders, experts and stakeholders to discuss strategies for growth and innovation in pharmaceutical sector.

Highlighting immense opportunities for growth in global pharmaceutical market, valued at $ 1.4 trillion, he emphasised need for Pakistan to benefit from it.

Expressing gratitude to Chairman of PPMA Syed Farooq Bukhari and Chairman of organising committee Dr. Kaiser Waheed for their exceptional leadership in arranging prestigious summit, he said pharmaceutical market of Pakistan was growing very fast and together, we could make Pakistan leading player in global pharmaceutical market.

He said by complying with global regulations and certifications, we could access more lucrative export markets, ensuring quality and competitiveness of our pharmaceutical products.

Naveed Qamar urged all stakeholders to explore opportunities for growth, invest in research and development and strive for excellence in quality and standards. Farooq Bukhari said summit aimed at showcasing for export purpose and recognising those companies which performed well in pharmaceutical sector.