Dr. Majed George, Chairman of the Medical Industries Export Council, said that Egypt is trying to conclude bilateral agreements with the ministries of health in several African countries in order to register products and conclude strong trade agreements.
This came during the seventh virtual conference held by the Egyptian British Business Association to discuss the future of investment in the health care sector in a bank in light of the outbreak of the Corona epidemic.
Dr. Majed George indicated that Egypt should benefit from its binding agreements with organizations such as SADC and COMESA to establish trade routes and export medical equipment to the surrounding countries of Africa and the Middle East.
He praised Egypt’s strong medical equipment manufacturing sector, highlighting that investment in healthcare in Africa has reached $ 16 billion, explaining that the Egyptian market has greater potential for growth.
He pointed to the importance of activating the system of mutual recognition between Egypt and Sudan in the field of medicine, with the aim of facilitating the entry of Egyptian drug products to the Sudanese market, in light of great government support for the direction towards Africa.
The head of the Medical Industries Export Council pointed out that the exports of the medical sectors with their derivatives of medicine, medical supplies and cosmetics amounted to 176 million dollars during the first quarter of this year compared to 118 million dollars during the first quarter of 2020, a rise of 47%.
The pharmaceutical industries sector is one of the most important industrial sectors in the Egyptian economy, as it contributes to providing the needs of the local market in terms of medicines, supplies and medical preparations, while the Ministry of Industry is keen to increase the sector’s exports to global markets, especially in light of the confidence that the Egyptian pharmaceutical sector enjoys in the regional and international markets. .
There are 270 companies in Egypt that manufacture medical supplies, and drug production in Egypt is concentrated in the private sector at 94% of the total investments producing 80% of medicines in Egypt, compared to 6% for the government sector, which produces 20% of medicines.