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MoU on cooperation signed between KOBİA, EZDA and the Thai company 15.07.23

The document signed between KOBİA, EZDA and "Supreme Pharmatech Co., LTD" of Thailand envisages the implementation of joint events, programs and projects in the field of pharmaceuticals, support for the development of local personnel capacity, organization of trainings for SMBs and conducting research.

A tripartite Memorandum of Understanding (MoU) on cooperation between the Small and Medium Business Development Agency (KOBİA), the Economic Zones Development Agency (EZDA) and the Thai company "Supreme Pharmatech Co., LTD" was signed at "Baku SMB House".

The document was signed by Orkhan Mammadov, Chairman of the Board of KOBİA, Elshad Nuriyev, Chairman of the Executive Board of EZDA, and Yuri Nelepchenko, CEO of Supreme Pharmatech Co., LTD of Thailand.

The MoU envisages joint cooperation in areas such as implementation of joint events, programs and projects in pharmaceuticals, support for the development of local personnel capacity, organization of trainings for SMBs, conducting research, supply chain development in the field of pharmaceutical manufacturing, including awareness and mutual cooperation of SMBs for them to contribute to the pharmaceutical and nutritional supplement sector, and the implementation of joint measures for the development of the local raw material base, joint support for the development of SMBs and start-ups operating in the pharmaceutical industry, supporting business incubators and research centers in the field of pharmaceuticals.

In addition, as part of the event, an Agreement was signed between the Economic Zones Development Agency (EZDA) and the Thai-Azerbaijan joint company "Supreme Pharmatech Manufacturing" LLC.

As part of the event, a meeting was held between Orkhan Mammadov, Chairman of the Board of KOBİA, Elshad Nuriyev, Chairman of the Executive Board EZDA, Yuri Nelepchenko, General Director of Supreme Pharmatech Co., LTD and Mushfig Huseynov, Director of Supreme Pharmatech Manufacturing LLC. At the meeting, the issues arising out of the tripartite document signed between the parties and the opportunities for cooperation were subjects of discussion.

It is worth underlining that the joint Thai-Azerbaijani company "Supreme Pharmatech Manufacturing" LLC, which has become beneficiary of the support of KOBİA, is set to build a factory for manufacturing biologically active food supplements and medicines within the 2.5-hectare area of Pirallahi Industrial Park. It is planned to employ 56 people permanently in the factory with the investment volume of 8.3 million manats.