Russian pharmaceutical companies do not enter the UAE market due to the complex procedure for registering drugs. The complexity of this process is so overwhelming that it breeds a sense of pessimism among domestic manufacturers, stated Andrei Terekhin, the trade representative of the Russian Federation in the UAE, during his address at the prestigious annual international business forum “World of Opportunities” held in Dubai.
Terekhin added that the countries still have potential for cooperation in the pharmaceutical industry. “What can we say if our turnover is about more than $10 billion between Russia and the Emirates, and the supply of medicines is a million dollars,” he emphasized.
As noted by I. O. Director General of the Scientific Center for Expertise of Medicinal Products of the Ministry of Health of the Russian Federation Valentina Kosenko, who was also present at the event, Russia is ready to sign an agreement with the UAE regulatory authorities that will minimize the difficulties arising when registering drugs.
