Today.Az » Business » Egypt to set up pharmaceutical factory in Azerbaijan
30 December 2007 [15:01] - Today.Az
Azerbaijan and Egypt have reached an agreement on the project of construction of a pharmaceutical factory in Azerbaijan.
Egypt's Minister of Economic Cooperation Faiza Aboul Naga said: "The construction will be financed by the investment company of Egypt. On the whole, the government of Egypt has allocated $3 billion for development of the national sector of public health".
In turn, Egypt Minister of Health Khatam Al-Gabali announced that the factory will manufacture products, corresponding to GMP (Good Manufactures Products) standards.
"Egypt ensures 95% demand of medicines on its own market. I think, the new plant will also ensure greater deal of Azerbaijan's demand".
The volume of investments will be defined after the feasibility study of the project is worked out.
/APA/
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