(MENAFN- AzerNews)
Qabil Ashirov read more Azerbaijan is determined to develop the non-oil-and-gas sector
as preparation post-oil period. To this end, Azerbaijan invested in
different sectors of the economy from tourism to agriculture.
Pharmaceutical is one of the sectors that the country attaches big
importance to. Strictly speaking, the pharmaceutical sector is
underdeveloped in Azerbaijan. The country is largely dependent on
imports. The production of pharmaceuticals amounted to over $6m, of
which over $2 m is exported. In contrast with export, the import
totaled $653m ranking 6th. For developing this sector and bringing
know-how to the country, Azerbaijan invested to build Pirallahi
Industrial Park and has been working with different countries
including Iran, Russia, and Turkiye so far. In addition, Yesterday
Azerbaijan had representatives of pharmaceutical companies from
Uzbekistan. The representatives visited the Pirallahi Industrial
Park and discussed with Azerbaijan the prospect of investment in
the pharmaceutical sector. This once again confirms that the
government is very determined to develop this sector.
Azerbaijan meets the pharmaceutical needs of the country with
the help of imports, Azerbaijani economist Eldeniz Amirov noted
while speaking about the current facility for development of this
area. He stressed that the development of this sector is difficult,
but Azerbaijan can achieve it in the medium term.
“In general, so to say Azerbaijan is very largely dependent on
imports to meet the demand for medicines. Actually, the development
of this sector can be achieved in Azerbaijan, but this is not
possible in a short time. Because this is a sector that requires a
large amount of investment, and at the same time, it is a sector
that requires a lot of experience. It should be ensured that the
established companies to be long-lasting, that the established
business entities expand their scope of activity, and at the same
time, opportunities and conditions are created for the creation of
new business entities. In this case, we can see the development of
this sector in the medium term,” Eldeniz Amirov noted.
He also touched on the benefits of the sector as well. He noted
that this sector is considered of strategic importance. Besides, it
has big benefits for the overall economy.
“As for the benefits of this sector, this is a very important
field of business in Azerbaijan in terms of its benefits for the
citizens of Azerbaijan. Because regarding the pharmaceutical
products, Azerbaijan is almost completely dependent on imports, and
therefore the prices are quite high compared to the countries where
these products are produced.
Besides, as is known, under certain conditions, supplier
countries cannot export some medicines due to the supplier problems
or increasing demands in the domestic markets. The world faced such
problems during the COVID-19 pandemic. Therefore, this sector
should be developed so that there are no problems in the supply
chain and the price becomes affordable. On the other hand, the
development of this sector means that the country has the
pharmaceutical industry, which is considered a strategic industry,
ensuring economic activity, increasing employment, and benefiting
to the GDP. Looking from any parameters, we will see that the
pharmaceutical sector is one of the most important directions for
the country,” Amirov added added.