Speaking at the event that was organized to celebrate this momentous collaboration, Minister of Economy Mikayil Jabbarov emphasized the exceptional brotherhood, friendship, close cooperation, and strategic alliance relations between Azerbaijan and Turkey. He attributed the current peak in these relations to the tireless efforts of our esteemed heads of state, Mr. Ilham Aliyev and Mr. Recep Tayyip Erdogan. The minister acknowledged that the robust political ties provide a solid foundation for strengthening business activities, leading to the successful implementation of joint initiatives.

Minister Jabbarov stressed the significance of establishing a modern infrastructure to ensure reliable healthcare services for the Azerbaijani population. For this purpose, a series of concessions have been applied in the Pirallahi Industrial Park, which was created to foster the development of the pharmaceutical industry in the country. The minister highlighted the joint project between Azerbaijan Investment Company and Turkish company "Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş.," which specializes in pharmaceutical production. Upon realization, this project will meet the demand for numerous pharmaceutical products through local production, reducing dependence on imports. The plant aims to produce a total of 100 types of products with different dosages and packaging, under 42 names. The initial investment cost for the project is estimated at 35 million dollars, and it is expected to create over 100 permanent jobs.

Expressing his satisfaction, Abidin Gulmuş, Chairman of the Board of Directors of "Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş," shared his confidence that the joint project for the production of medicines will significantly contribute to the well-being of the Azerbaijani people.

Providing further insights, Ulvi Mansurov, Executive Director of "Azerbaijan Investment Company" JSC, emphasized the importance of the drug production plant in meeting the country's pharmaceutical product demands and reducing import reliance.

During the event, Tahir Mirkishili, Chairman of the Economic Policy, Industry, and Entrepreneurship Committee of the Milli Majlis, and Ahliman Amiraslanov, Chairman of the Health Committee of the Milli Majlis, presented information about the measures taken to protect the health of the population and the favorable regulatory and legal framework established to support foreign investors.

A video showcasing the proposed drug production facility to be established in the Pirallahi Industrial Park was presented at the event.

Subsequently, a Joint Participation Agreement was signed between AIC and "Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş." As per the agreement, Turkey's GEN İlaç ve Sağlık Ürünleri A.Ş. will establish a pharmaceutical production plant spanning an area of 11,500 m² with an annual production capacity of 35 million boxes in the 7-hectare area of the Pirallahi Industrial Park. The partners have future plans to export medicines under the "Made in Azerbaijan" brand to neighboring countries in the region.