Iran’s medicine exports to Kazakhstan to see major increase in 2018

Business Materials 1 May 2018 17:22 (UTC +04:00)

Tehran, Iran, May 1

By Kamyar Eghbalnejad – Trend:

The volume of Iran’s medicine exports to Kazakhstan is expected to witness a gigantic leap in 2018, statistics suggest.

Exports of Iran’s medical products to Kazakhstan will rise to $1 million in 2018, the statistics released by Iran’s Trade Promotion Organization (TPO) indicated.

Ane Dordi Iran Panah, Iran’s commercial attaché in Kazakhstan, said the Islamic Republic’s share from the Central Asian country’s medicine market was only $61,000 in 2016, the TPO website reported May 1.

He added that reports suggest that the Kazak government plans to modernize its pharmaceutical equipment and manage its drug distribution system in a bid to supply 50 percent of its domestic demand in 2019.

The total amount of medicine produced by Astana in 2016 and 2017 only addressed 11.7% and 14% of its domestic needs, respectively, he noted.

He further referred to Iran’s production medicine capacities and its stance in the region, saying that Iran has the potential to compete with Asian and European countries in this regard.

“Kazakhstan will need Iran’s medicine imports for at least the next ten years which can be a good opportunity for Iranian exporters,” Iran Panah said.

On April 12, 2016, Iran and Kazakhstan signed 66 documents, worth $2 billion, for cooperation in the public and private sectors.

Kazakhstan and Iran cooperate fruitfully in international and regional organizations, including the Conference on Interaction and Confidence-Building Measures in Asia, the Organization of Islamic Cooperation and Shanghai Cooperation Organization.