Iran eyeing Russia's $20bn lucrative pharmaceutical market

TEHRAN, Oct. 16 (MNA) – Head of Trade Promotion Organization of Iran (TPOI) said the ground is ready for Iranian companies following the withdrawal of Western companies from Russia's big pharmaceutical market.

Alireza Payman-Pak, the Deputy Minister of Industry, Mine and Trade made the comments in a Conference entitled “Promotion of Export of Medical, Dentistry and Pharmaceutical Equipment” held in Russia on the sidelines of the Moscow Health Week Exhibition and added that medical equipment is of the group of commodities that that government has devised a specific plan for its export.

According to statistics, Russia’s annual imports value of medical equipment and medicines stands at $20 billion, he said, adding, “With the withdrawal of Western companies from Russia due to sanctions imposed against the country, suitable opportunities have been paved for the Iranian companies, so that Iranian firms should make their utmost efforts in exporting their products to Russia's lucrative market."

The TPOI has made necessary planning to have a strong presence in Russia’s lucrative market of pharmaceuticals and medical equipment, he added.

In this regard, good agreements have been made with regard to exporting anticancer drugs and medicine to the Russian Federation, TPOI chief opined.

MA/FNA14010723000645

News Code 192495

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