BAKU, Azerbaijan, May 5. Nearly half (49 percent) of Hungary's exports to Azerbaijan are in the pharmaceutical sector, said Tamás Torma, Hungary's Ambassador to Azerbaijan, Trend reports.
Speaking at the ongoing international conference in Baku titled "Azerbaijan's Pharmaceutical Industry: Yesterday, Today, and Tomorrow," Ambassador Torma highlighted the long-standing relationship between the two countries in the pharmaceutical field.
"Hungary began supplying medicines to Azerbaijan as early as 1993, and in 1997, the company Gedeon Richter became the first foreign pharmaceutical company to open a representative office in Azerbaijan," said Torma.
The Ambassador also noted that in 2020, the Hungarian company Egis made a significant donation of medicines to Azerbaijani soldiers during the Karabakh war.
"Over the years, Hungarian pharmaceutical companies have earned the trust and recognition of Azerbaijan's healthcare system thanks to their high-quality, reliable, and effective products," he added.
Torma emphasized Hungary's leading role in pharmaceutical exports, noting that the country is the largest exporter of pharmaceutical products in Central and Eastern Europe and ranks 20th globally in terms of pharmaceutical export volume.
"Today, 60 percent of all investments in research and development (R&D) in Hungary are directed towards the biosciences sector, with 9 out of 10 global biotechnology companies having research centers, production sites, or both in Hungary," the ambassador said.
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