TEHRAN – Iranian Industry, Mining and Trade Ministry has announced plans to enter Russia’s medicine and medical equipment market, the portal of Trade Promotion Organization (TPO) reported on Saturday.

As reported, TPO, as the Industry, Mining and Trade Ministry’s foreign affairs body, is preparing a comprehensive action plan for the facilitation of Iranian pharmaceutical companies’ presence in Russia’s medicine and medical equipment market.

Speaking in a seminar on the promotion of the export of medical and pharmaceutical equipment to Russia, which was held with the aim of making the necessary preparation for the participation of Iranian companies in the Moscow Health Week exhibition, TPO Head Alireza Peyman-Pak said: “Medical equipment is among the group of goods that the government has a special program for its promotion and exports.”

“The government's approach is to do special programs for products that have a good market and our producers have the ability to compete with foreign products in the destination markets. Participation in specialized exhibitions is one of these programs,” Peyman-Pak said.

Stating that participation in specialized exhibitions should be planned in advance and according to the goals, the official emphasized: “We saw an example of this planning at the Moscow Automobility Exhibition, which was a good achievement for our automobile and parts manufacturing industries.”

He said according to statistics, Russian imports over $20 billion worth of medicine and medical equipment annually, adding: “With the withdrawal of western companies from this country due to sanctions, a suitable market has been opened for Iranian companies that can be used.”

The TPO head also pointed to the organization's support for the export of medical equipment and said: “In this regard, solving financial exchange problems, opening a brokerage account between Iranian and Russian banks, providing financing for purchase credit, issuing guarantees and insurance policies, and discussing quick registration for medicines and medical equipment are being followed up by TPO in Russia.”

EF/MA