Azerbaijan and Russia have signed a memorandum of understanding on establishing pharmaceutical production in Azerbaijan.

The document was signed by Azerbaijan’s Vita-A company, Russian R-Pharm and Azerbaijan Investment Company during the Azerbaijan-Russia business forum in Baku June 20.

Moreover, the following documents were signed during the forum:

- a memorandum of cooperation between Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and All-Russia business association “Delovaya Rossiya" (Business Russia);

- a memorandum on promotion of investment projects in industrial and agricultural sectors both in Moscow (Victoria Industrial Park) and in Azerbaijan. The document was signed between AZPROMO and Victoria Estate Management LLC;

- a memorandum of cooperation between AZPROMO and Bank VTB (Azerbaijan).