Russia sets further priorities for economic co-op with Azerbaijan

Business Materials 21 September 2017 11:02 (UTC +04:00)

Baku, Azerbaijan, Sept. 21

By Anvar Mammadov – Trend:

Azerbaijan and Russia have great potential for the development of relations in the pharmaceuticals and industry spheres, Russia’s Trade Representative in Azerbaijan Eldar Tlyabichev told Trend.

He said that cooperation between the two countries in the sphere of pharmaceuticals is growing, and there are opportunities for further growth there.

“We have repeatedly noted the expansion of our trade turnover, the development of agrarian relations between our countries,” said Tlyabichev. “However, there are other sectors as well, and pharmaceuticals’ sphere is one of them. At present, a [Russian-Azerbaijani] joint plant for the production of medicines (Hayat Pharm) is being built in Azerbaijan.”

In November 2016, the groundbreaking ceremony of Hayat Pharm was held in the Pirallahi Industrial Park.

Russia’s R-Pharm, Azerbaijan Investment Company (AIC) and Azerbaijan’s Vita-A LLC are the plant’s shareholders.

Hayat Pharm will produce medicines of various pharmaceutical groups, including cancer, antifungal, antiemetic, antiviral and other drugs.

The plant’s capacity will be 22.5 million packages, or 500 million pills and capsules.

Tlyabichev said that the industrial sector, transport and ICT are other promising areas for cooperation.

“There are great prospects in the transport sphere as well, and with the implementation of the International North-South Transport Corridor project, these prospects will grow even more,” he noted. “One shouldn’t forget about the ICT sector, either. Today, Russia has big achievements in the field of accessibility of Internet services and Azerbaijan can benefit from Russia’s experience.”

Tlyabichev also positively assessed the appointment of Ruslan Aliyev as Azerbaijan’s trade representative to Russia, stressing that this step will make it possible to expand cooperation between the two countries.

“We met with Ruslan Aliyev several times and discussed the issues of mutual interest,” Tlyabichev noted.

It should be recalled that Ruslan Aliyev became the first trade representative of Azerbaijan abroad.

The trade turnover between Azerbaijan and Russia amounted to $1.28 billion in January-August 2017, according to Azerbaijan’s State Customs Committee.