KYIV. Feb 10 (Interfax-Ukraine) – The Ukrainian pharmaceutical market remains important and promising for Indian pharmaceutical companies, Head of the Indian delegation of the Ukrainian-Indian working group for healthcare and pharmaceutical market and Deputy Minister of Chemicals and Fertilizers of India Sudhansh Pant.
“Ukraine is a very important market for Indian pharmaceutical companies. It was and remains important and promising, despite the fact that in recent years the decline in goods turnover in the U.S. dollars was seen. Nevertheless, we’re working on returning the indicators of the goods turnover to the level we saw several years ago and increased them,” he told Interfax-Ukraine, commenting on the results of the second meeting of the Ukrainian-Indian working group held in January 2016 in Kyiv.
Pant said that the change of currency exchange rates resulted in growth of goods turnover between India and Ukraine in the hryvnia equivalent.
“We should say that goods turnover in hryvnias have an upward trend,” he said.
Pant also said that the meeting of the Ukrainian-Indian working group in January 2016 was the second meeting and the first meeting was held in 2013 in India.
“In general, there is a good opportunity to discuss all urgent issued appeared during cooperation at these meetings. During discussion one can see progress in achieving the goals set, clear up the positions of the sides to support development,” he said.
He also pointed at possibilities of implementing projects to localize production of medicines at facilities of Ukrainian pharmaceutical manufacturers and organize production by Indian pharmaceutical companies in Ukraine.
“Taking into account the potential of the Ukrainian pharmaceutical market, expectations from localization of production facilities are very positive. We will welcome projects on entering the Ukrainian market by Indian pharmaceutical companies to organize medicine production. I hope that we will see in the near future in what form it will happen and what contribution of Ukraine will be. In general, we see an upward trend both for the Ukrainian market and investment of Indian companies,” Pant said.
He also mentioned the fruitful work of the Indian Pharmaceutical Manufacturers’ Association in Ukraine (IPMA).
“At a meeting with representatives of the companies that are part of the IPMA the head of the IPMA association raised several problems that representative of Indian companies have to face in Ukraine, in particular, exports of medicines from India to Ukraine. We’ve discussed the issues and formed the position of India at the meeting of the working group. Some of the issuers were announced by India,” he said.
Pant said that India received a positive reaction from Ukraine.
He said that in general India positively assesses the negotiations.
