BAKU, Azerbaijan, July 15. The Azerbaijan Small and Medium Business Development Agency (SMBDA), the Economic Zones Development Agency of Azerbaijan and Supreme Pharmatech Co., Ltd. (Thailand) have signed a trilateral Memorandum of Understanding (MoU), Trend reports.
The document was signed by Chairman of the Board of SMBDA Orkhan Mammadov, Chairman of the Board of Economic Zones Development Agency Elshad Nuriyev and Director General of the Supreme Pharmatech Co., Ltd. Yuri Nelepchenko.
The memorandum provides for the implementation of joint activities, programs and projects in the field of pharmaceuticals, support for the development of local human resources, organization of training for SMEs, research, information and interaction of SMEs for enabling them to contribute to pharmaceutical and nutritional supplements sector.
Besides, the MoU envisions the implementation of joint activities to develop the local raw material base, including the production of pharmaceutical products in the field of supply chain development, joint support for the development of small and medium-sized enterprises and start-ups operating in the pharmaceutical industry.
In the field of pharmaceuticals, joint cooperation is expected in such areas as support for business incubators and research centers.
Within the framework of the event, an agreement was signed between Economic Zones Development Agency and the Thai-Azerbaijani joint company - Supreme Pharmatech Manufacturing LLC.
Meanwhile, a meeting was held between Mammadov, Nuriyev, Nelepchenko and the Director of Supreme Pharmatech Manufacturing LLC Mushfig Huseynov. Issues arising from the trilateral document signed between the parties, and the possibility of cooperation were discussed at the meeting.
SMBDA is a legal entity designed to support the development of small and medium-sized businesses in Azerbaijan, providing a number of services to SMEs, coordinating and regulating services provided in this area by state bodies.