The Union Cabinet has approved a memorandum of understanding (MoU) to be signed between India and Uzbekistan. The MoU is to increase cooperation in the areas of trade, industry, research and development of pharmaceutical products.
In the same development, the cabinet has also approved another MoU between India and Uzbekistan form the establishment of a free pharmaceutical zone in the Andijan region of Uzbekistan.
The MoU will be signed during the scheduled visit of Uzbekistans President to India on 1 October 2010, as per an official statement.
The governments of both the nations are trying to increase “ mutual cooperation in trade, production, research and development in the pharmaceutical sector. Through this MoU, the governments are trying to establish a formal mechanism of bilateral cooperation, the statement added.
“It will also exchange information on trade and registration procedures, legal and regulatory requirements for export and import of pharmaceuticals products, including APIs,” the statement added.
This MoU will also explore all the possibilities for the production of medicines and active pharmaceutical ingredients (APIs) in different therapeutic segments in both countries.
It will also give biopharmaceutical companies a platform to invest and establish their production units in the proposed pharma zone.