Philippines invites Indian pharma comapnies to set up base
Bullish on Indian economy in the 21st century, President of Socialist Republic of Philippines Gloria Macapagal-Arroyo today invited Indian pharma companies to set up manufacturing base in Philippines to tap markets in North East Asia and Asia Paci...
By PTI |
MUMBAI: Bullish on Indian economy in the 21st century, President of Socialist Republic of Philippines Gloria Macapagal-Arroyo today invited Indian pharma companies to set up manufacturing base in Philippines to tap markets in North East Asia and Asia Pacific.
"We encourage Indian pharma companies to set up production base in Philippines not only for the domestic market but also as a base to export to North East Asia, Australia and New Zealand," she said during a CII Interactive Session here.
She said that the Philippines Senate had recently passed the affordable quality medicine act to facilitate production of cheap medicines for the people.
Here on a three-day visit, Gloria Macapagal-Arroyo is the second President of the Socialist Republic to visit India in the last ten years.
On liberalised Visa norms, the President said that Indians were no longer "restricted nationals" in Philippines.
Terming India as one of the top economies of the world, she said that the sub-continent's Look East policy will bring about greater economic integration.
She observed that balance of trade between the two countries was presently lopsided but Philippines expects more investments from India in the near future.
Highlighting the green Philippines agenda, the President sought cooperation from Indian corporates for bio-fuel production. Indian companies Praj Industries and KBK Engineers are currently in talks to facilitate bio-fuel production.
"We encourage Indian pharma companies to set up production base in Philippines not only for the domestic market but also as a base to export to North East Asia, Australia and New Zealand," she said during a CII Interactive Session here.
She said that the Philippines Senate had recently passed the affordable quality medicine act to facilitate production of cheap medicines for the people.
Here on a three-day visit, Gloria Macapagal-Arroyo is the second President of the Socialist Republic to visit India in the last ten years.
On liberalised Visa norms, the President said that Indians were no longer "restricted nationals" in Philippines.
Terming India as one of the top economies of the world, she said that the sub-continent's Look East policy will bring about greater economic integration.
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She observed that balance of trade between the two countries was presently lopsided but Philippines expects more investments from India in the near future.
Highlighting the green Philippines agenda, the President sought cooperation from Indian corporates for bio-fuel production. Indian companies Praj Industries and KBK Engineers are currently in talks to facilitate bio-fuel production.
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