During the meeting held between Minister of Economy Mr. Mikayil Jabbarov and Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. (GEN), a company specializing in pharmaceutical production in Turkey discussions were held regarding the expansion of company’s cooperation in Azerbaijan.

During the event, parties have emphasized that the political will of the heads of state, friendly and brotherly relations as well as the implementation of their assignments are playing vital role in effective use of opportunities gained via economic cooperation. The success of the existing economic, trade and investment partnership between Azerbaijan and Turkey was highlighted during the meeting. Expanding the scope of the Preferential Trade Agreement with Turkey, one of our country’s main trade partners, will create an additional stimulus to strengthen our economic and trade cooperation. Effective steps are already being taken towards developing partnership with Turkish companies and implementing mutually beneficial joint projects, including in the field of pharmaceuticals.

At the meeting, a Cooperation Agreement was signed between Azerbaijan Investment Company OJSC and GEN. The main objective of the project is to replace the import of important pharmaceutical products with local production and increase their availability for consumers with more favorable conditions. According the agreement it is planned to build a factory for the production of pharmaceutical products in Azerbaijan, and in addition to meeting domestic demand the products are expected to be exported to neighboring countries.

Note : GEN is a leading company in Turkey specializing in pharmaceutical production, with more than 20 years of experience.