The Russian Siberian republic of Buryatia will spend 3 billion U.S. dollars on the production of Tibetan medicines, the RIA Novosti news agency reported Wednesday.

The Buryat government has approved the establishment of a biopharmaceutical group in five years to produce Tibetan medicines.

The group in Ulan-Ude, capital city of Buryatia, will consist of research centers, specialized universities, businesses and innovative small enterprises.

The Buryat Scientific Center of the Siberian Branch of the Russian Academy of Sciences conducts comprehensive scientific research on Tibetan medicines.

The center has one of the world's largest collections of ancient Tibetan medicine treatises, with more than 500 books containing more than 7,000 recipes of various medical drugs.

Tibetan medicines use natural and herbal remedies and have many advantages over synthetic medicines.