Uzbekistan - Russia: broad prospects for investment and trade cooperation in the pharmaceutical sector

Currently, cooperation between the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan and the Ministry of Industry and Trade of the Russian Federation can be described as actively developing in a wide range of areas, including joint projects in industry, mechanical engineering, metallurgy, as well as initiatives to promote interregional cooperation.

All these areas are being worked out by the Project Office created by the Ministry of Investment and Foreign Trade of the Republic of Uzbekistan together with he Ministry of Industry and Trade of the Russian Federation. There will be targeted meetings of ministries and departments of the two countries, which will provide discussions on practical aspects of cooperation of potential counterparties.

Another such event was the visit of a Delegation of Russian pharmaceutical companies, where the Russian plans to review promising areas of the development of intra-industry cooperation, become familiar with the plans for the development of the pharmaceutical industry in Uzbekistan, analyze and assess production, technological and economic capabilities of Uzbek pharmaceutical companies, from which Russian pharmaceutical manufacturers will identify potential partners for investment projects.

The visit on January 27 provided the extended meeting of representatives of the Ministry of Industry and Trade of the Russian Federation and the top officials of Russian pharmaceutical companies with the heads of relevant ministries and departments of Uzbekistan.

The meeting considered a wide range of practical cooperation aspects, in particular, the rules and procedures for the procurement and use of medicines, medical equipment, and other medical products currently valid in the Republic of Uzbekistan.

The top officials and experts of the Ministry of Investment and Foreign Trade, the Center for the Development of Investment Projects under the Ministry of Investment and Foreign Trade, as well as the Agency for the Development of the Pharmaceutical Industry acquainted the guests with the progress and promising areas for the development of the sphere, the existing benefits, preferences, regulatory measures and conditions aimed at attraction of foreign companies to joint projects, lists of manufactured and imported medicines.

The attendees considered certain project proposals developed to attract Russian companies to the joint projects and disclosed detailed information on specialized investment and production sites in the Republic, such as the innovative research and production cluster Tashkent Pharma Park, as well as a number of free economic zones (FEZ) focused on the production of pharmaceutical items.

In the near future, the delegation will continue to establish direct contacts with Uzbek entrepreneurs, identify specific project proposals for the subsequent development of tools of cooperation with the entities of the pharmaceutical industry of Uzbekistan. During the visit of the Delegation to the Republic, it is planned to hold a number of В2В meetings and negotiations with the representatives of more than 25 Uzbek pharmaceutical companies by visiting enterprises in various regions of the country.

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