A worker interacting with a terminal during the process of producing a medicine in one of the Factories that belong to Eipico . Photo courtesy Eipico Website.
In a statement on Monday, the head of the Egyptian Exporting Council of Medical industries (ECMI) Maged George said that Egypt's medicine and pharmaceutical exports have witnessed a remarkable increase over the past three years due to the coronavirus pandemic.
Asked about export goals during 2023, George said that the ECMI aims to increase the sector's exports by not less than 30 percent.
The African market is promising for the sector's products during 2023, he added, stating that there were some obstacles that should be dealt with such as bank credit facilities for importers.
Maged George also revealed that there was a new strategy to increase Egyptian medical and pharmaceutical exports in Africa. According to the strategy, 6 logistic centres will be established in Kenya, Morocco, Mauritius, Nigeria, Zambia and Algeria.
Egypt’s exports in 2022 increased by around 20 percent to $53.8 billion, compared to $45 billion in 2021, according to Prime Minister Mostafa Madbouly in previous statements.
Madbouly added that the government is working to increase exports to bridge the dollar gap between revenues and expenditures.