Indian, Afghan pharmaceuticals sign memorandum of understanding worth $100M

ISTANBUL

Indian and Afghan pharmaceutical companies have signed a memorandum of understanding worth $100 million.

The pact was signed at the Afghan Consulate in Dubai, the United Arab Emirates, between Afghanistan's Raoufi Global Group Company and India's Zydus Lifesciences, according to a Thursday statement from Afghanistan's Industry and Commerce Ministry.

The Indian company will initially export medicines to Afghanistan, with plans for technical data and know-how transfer, according to Indian broadcaster NDTV.

Zydus Lifesciences also plans to relocate its representative office to Afghanistan and eventually begin domestic drug production, the statement added.

Separately, Afghan Health Minister Noor Jalal Jalali on Friday said that his ministry is actively engaged with international partners to address the country’s medicine shortage, which is expected to be resolved soon, local outlet Tolo News reported.

Earlier this month, Afghan Trade Minister Alhaj Nooruddin Azizi held talks with Indian Foreign Minister Subrahmanyam Jaishankar in New Delhi to strengthen bilateral trade relations.

The ministry said the agreement on the pharmaceutical deal was agreed upon then.