Armenian and Indian businessmen look into prospects for boosting cooperation in pharmaceuticals

Armenian and Indian businessmen look into prospects for boosting cooperation in pharmaceuticals

YEREVAN, February 3. / ARKA /. Armenian and Indian businessmen are looking into prospects for boosting their cooperation in pharmaceuticals during a two-day business forum that started Monday in Yerevan 

Addressing the present Armenian deputy economy minister Tigran Harutyunyan said pharmaceuticals is e one of the 12 priority export-oriented sectors of the local economy enjoying the backing of the government.

He said in 2013 this industry posted a 30 % output increase, and a 27 % rise in exports both to former Soviet republics and Europe.

The deputy minister spoke also about advantages offered by Armenia’s free economic zones, including exemption of some taxes and called on Indian pharmaceutical companies to actively cooperate with the Union of Medicine Producers and Importers of Armenia.

Abhay Singh,  the regional director of the Indian council for promotion of exports of pharmaceutical products, said Indian businessmen are ready to enter the Armenian market,  given its upcoming accession to the Customs Union .

According to the Armenian Centre of Drug and Medical Technology, some 254 names of Indian drugs are registered in Armenia.

Last year, India exported $1.9 million worth medications to Armenia becoming the 20th largest medication supplier to Armenia.  -0-

17:48 03.02.2014

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