PCJCCI keen to collaborate with China for producing Herbal Medicines
China has extensive expertise in herbal medicine manufacturing, an industry that is booming all around the world, and Pakistan should capitalize on the emerging opportunity, said a top official of a joint Pakistan-China chamber of commerce.
“Global market for herbal medicines is expected to reach $107 billion by the year 2024 and $178.4 billion by 2026, creating a vast room for Pakistan’s herbal medicine sector,” emphasized Pakistan-China Joint Chamber of Commerce and Industry (PCJCCI) President Moazzam Ghurki.
Chairing a think-tank session on Wednesday, Ghurki pointed out that almost 30,000 herbal drugs, cosmetic and healthcare goods-producing companies were operating in Pakistan. “To empower this sector, the government should set up a specialized herbal research institution, which will not only help develop the industry but also educate health regulators.”
He added that China was a pioneer in herbal treatments based on research of more than 2,500 years, while Pakistan was rich in naturally growing herbs in its Himalayan range, which were of high value in the pharmaceutical industry.
“Their proper utilisation can lead to socio-economic development of individuals and the entire country.”
Building upon the strong Pakistan-China cooperation in the economic and military spheres, Ghurki emphasised, both nations should also collaborate in the area of traditional and conventional medicines and facilitate exchange of knowledge, which would benefit millions who lacked access to costly modern healthcare.
In similar remarks, PCJCCI Senior Vice President Fang Yulong predicted that the fusion of Pakistani and Chinese herbal medicines, techniques, and procedures could revolutionise the herbal curative system besides securing a significant share in the international market.
He called herbal and plant medicines an industry worth billions of dollars as the world was gradually moving towards organic and herbal medicines. “The industry provides Pakistan with an opportunity to market its miraculous herbal medicines around the world.”
Sichuan province of China has one of the largest manufacturing bases for traditional medicines. It has 1,800 hospitals and 78,000 clinics while over 5,000 species of herbs are being used there to develop the traditional Chinese medicines.