The meeting explored means of developing industries related
to the sector and boosting its exports especially to African and Arab markets.
Minister of Trade and Industry Nevine Gamea has held a
virtual meeting with members of the Egyptian Export Council of Medical
Industries (ECMI) to explore means of developing industries related to the sector
and boosting its exports especially to African and Arab markets.
“We are keen on developing the pharmaceutical sector, which
is a key pillar of the economy, to cover the needs of the local market and
increase export rates,” Gamea said.
The minister asked the council to prepare a broad outline for
the new subsidy program for exports of medical, and pharmaceutical products to
be submitted to the ministry.
Magued George, head of the ECMI, pointed out that the council
aims to double its exports over the next three years, noting that medical
exports hit $540 million in 2019; and their top markets include: Saudi Arabia,
Yemen, Sudan, the UAE, Iraq, Morocco, Jordan, Libya, Lebanon and Germany.
He added that that there are 270 companies in Egypt operating
in this field, with total exports amounting to $50 million during the first 6
months of the year.