EU pact will boost Ukrainian pharmaceutical exports

The Ukraine’s signing of the Agreement on Conformity Assessment and Acceptance of Industrial Products  (ACCA) will help offset the imbalance of imports and exports on the Ukrainian pharmaceutical market. This opinion was expressed by Olexiy Soloviev, State Pharma Service chief. 

"The Free Trade Zone Agreement between Ukraine and the European Union envisions the adaptation of national legislation to EU norms; trade in goods between the EU and Ukraine will be carried out on the same conditions that apply to the trade between the EU Member States," Soloviev said, the Information-Analytical Bulletin of the Cabinet of Ministers of Ukraine informs.

Government analysts say mutual recognition of the results of inspections and monitoring will also help boost Ukrainian pharmaceutical exports to the European Union. The State Pharma Service has already started consultations on this subject with the European Commission. Experts say the signing of the EU Association Agreement will provide an opportunity to export Ukrainian medicine to Europe without additional technical barriers.

Competition on the domestic pharmaceutical market is growing and it is becoming increasingly attractive for  foreign companies. Ukraine's pharmaceutical market increased 15% last year, generating 34.2 billion UAH in sales. Government analysts say that the domestic pharmaceutical industry shows steady growth: sales of Ukrainian pharmaceutical enterprises in 2012 were up 16.7% from 2011, totaling 9.7 billion UAH. In monetary terms, Ukrainian  pharmaceutical production was up 32% in 2012. 

The strategic goal of the Ukrainian government is to increase the affordability of medications for Ukrainian citizens, and to expand its own production of pharmaceuticals. Ukrainian manufacturers have something to be proud of. Some 65% of the packages that are sold in pharmacies are produced domestically. However, the domestic pharmaceutical market has some negative trends: two-thirds of all consumers money fall under foreign manufacturers, who mostly sell the same products, but several times more expensive.

Government analysts say Ukraine's accession into the European system of quality control for medications will help improve the quality of Ukrainian medicine, saturate domestic market and increase exports of Ukrainian pharmaceuticals.