Iran, Nicaragua sign $10m deal to export pharmaceuticals to Central American country

IRNA – Iran is ready to export pharmaceuticals to Nicaragua and share its professional expertise in medicine production and maintenance with the Central American nation, said a senior Iranian medical official on Tuesday after signing an agreement on medical cooperation.

“We are prepared to cooperate with Nicaragua in medicine export and share expertise in pharma production and control. There are good capacities in Nicaragua and they can help us in return,” said Iran Food and Drug Administration President Hamid Reza Shanehsaz on Tuesday.

He made the remarks in a meeting with Nicaragau’s Treasury and Public Credit Minister Iván Adolfo Acosta Montalván, who is leading a political and business delegation on an official visit to Iran.

Shanehsaz reiterated that Iran produces over a million cosmetics and other beauty-related products, making it almost independent in production of such products.

Acosta Montalván noted that Manágua is ready to facilitate such bilateral cooperation ditching dollar. “In return for medicine, we can give you food products,” he said.

Nicaragua is set to import pharmaceuticals from Iran for a “pilot period” of six months, said Francisco López Centeno, Nicaraguan president’s Advisor for Production and Commerce.

“In the first phase, we will import medicine from Iran worth $10m in return for export of food from Nicaragua,” he added, without specifying what kind of foodstuff will Iran buy from the Central American country.

López Centeno stressed that the imported medicine from Iran won’t be registered in the first phase, noting that such cooperation can lay the groundwork for the creation of a joint Iranian-Nicaraguan pharmaceutical company in the country to meet both domestic demand and export to other Latin American nations.

“Medicine in Central America is very expensive. Even if there is enough money, we can’t buy enough medicine because with each endemic diseases, we face difficulties in providing them,” according to the Nicaraguan official.

“Iranian-made medicine is both high in quality and competitiveness in terms of price. We have daily requests from regional countries to buy pharmaceuticals from us,” said Gholam Hossein Mehr Alian, Director General of Drug Issues and Materials under the Control of IFDA.

“Currently, we are actively producing medicine for chronic and non-contagious diseases such as heart, veins, blood pressure and kidney. We have made good progress in making anti-cancer drugs. We give commitment and guarantee to export high quality drugs with good prices to Nicaragua and other LatAm countries,” he added.