Russian pharmaceutical companies intend to increase export supplies of medicines to Myanmar. In order to streamline this task, countries must reassess and combine their approaches to drug registration, said Maxim Reshetnikov, Russian Minister of Economic Development.
According to the Ministry of Economic Development, the potential volume of Myanmar’s pharmaceutical market reaches $1 billion. “Investments will help speed up the implementation of potentially profitable projects. Our countries have all the necessary conditions for this,” he added during a speech at the Russian-Myanmar business forum, which was held in Moscow.
Also, according to Reshetnikov, the agricultural sector is an attractive area for cooperation between the parties. A joint project is currently being prepared for implementation, which involves the production of fertilizers in Myanmar.
Just a reminder: In 2022, the Myanmar delegation visited the production site of JSC Pharmasyntez in Irkutsk, and an agreement on cooperation was reached. The Russian company commenced supplying the antitumor drug to the country as stipulated in the agreement, starting at the end of 2023.
“The Republic of the Union of Myanmar is a friendly country for the Russian Federation and the first country in the region of the Association of Southeast Asian Nations to which supplies of Pharmasyntez drugs began as part of the expansion of exports of the group of companies,” said Nikita, executive director of the Pharmasyntez Group of Companies in December 2023 Punia.
