INDIAN PHARMA SECTOR CALLS FOR AFRICA TRADE BOOST

The Federation of Indian Chamber's of Commerce and Industry (FICCI) has called for the Indian government to boost trade with Africa in pharmaceuticals and healthcare.

The top eight drug markets in Africa -- Nigeria, South Africa, Kenya, Mauritius, Ghana, Tanzania, Algeria and Sudan -- are expected to have an average 5.4% GDP growth in 2005, driven by increased political stability, economic restructuring and exploitation of the region's natural resources.

FICCI has specifically called for banking networks and improved shipping and air links to be set up between Africa and India to stimulate trade. The group also stressed the importance of implementing Free Trade Areas and Special Economic Zones.

Specifically within the drug sector, FICCI has called on the Indian government to simplify the process for the registration and import of pharmaceutical products, as well as resolve licensing problems faced by Indian drugmakers in many African countries.