Iran to invest 11 mln USD in 'Caspian Pharmed' pharmaceutical plant

Baku. 16 January. REPORT.AZ/ Iran will invest over 11 mln USD in the 'Caspian Pharmed' pharmaceutical plant, to be built in Azerbaijan.

Report informs, Iranian Minister of Cooperatives, Labour and Social Welfare Ali Rabiei, who is on visit to Baku, told reporters.

He said that main aim is to eliminate Azerbaijan's dependence on import of medicines after launch of the plant: "In the future, medicines of 1 million USD cost will be exported to the neighboring countries - Russia, Georgia, Kazakhstan and other Central Asian countries".

Stating further expansion of economic cooperation with Azerbaijan, the minister said that joint activity in the fields of tourism, road infrastructure and other areas is also planned.