Baku, Azerbaijan, July 21
By Seba Aghayeva – Trend:
Several Bulgarian companies are interested in Azerbaijan’s Pirallahi Industrial Park and are currently studying the opportunities for future cooperation, said Azerbaijani Ambassador to Bulgaria Nargiz Gurbanova in her interview with Trend.
“Great prospects for cooperation between the two countries are open in the field of pharmaceutics. In 70-80s of the last century Bulgaria was traditionally considered as one of the main countries supplying pharmaceutical products to republics of the former Soviet Union, including Azerbaijan. Today production in this sphere is adjusted in line with international standards, and Bulgarian companies are considering new opportunities for cooperation with Azerbaijan in the field of pharmaceutics,” said the ambassador.
According to her, the embassy sent the necessary information on the activities of the Pirallahi Industrial Park to the Bulgarian business associations, which caused great interest of businessmen.
Another priority area for cooperation is the perfume industry of Bulgaria, noted Gurbanova.
A business meeting between the two countries’ business is planned to be held in Sofia in autumn, during which representatives of companies will have an opportunity to discuss cooperation in detail.
It should be noted that the Pirallahi Industrial Park was created under a decree of the Azerbaijani president in September 2016 and specializes in the production of pharmaceutical products. As in other industrial parks, investors are exempted from paying various taxes and customs duties for seven years.
A number of pharmaceutical plants will operate in Azerbaijan in the next three years. The construction of two plants has already started in the Pirallahi Industrial Park. The first plant, Hayat Pharm, is a joint Azerbaijani-Russian project. R-Pharm company represents the Russian side in the project.
The second plant, Caspian Pharmed, is being built jointly with Iran’s Tamin Pharmaceutical Investment Company. The third plant is being built with Azerbaijan’s Diamed Co.
According to Azerbaijan’s State Customs Committee, the country’s trade turnover with Bulgaria reached almost $4.77 million in January-May 2017, some $4.69 million of which accounted for the country’s import operations. During the year, the two countries’ trade turnover went up by 1.6 percent.