Egypt’s exports of medical industries will rise to $968 million in 2022

-

Cairo – Mubasher: Egypt’s exports of “medicines, cosmetics, and medical supplies” increased during 2022 by 38.8%, to record $968 million, compared to $697 million in 2021.

The head of the Medical and Pharmaceutical Industries Export Council, Dr. Maged George, said in a statement today that the sector’s exports witnessed a great development during the past three years, achieving an increase of 200% compared to 2019 exports before the Corona virus pandemic, indicating that the growing demand for the sector’s products during the period of spread The Corona virus clearly contributed to the increase in foreign exports, according to the Middle East News Agency.

Regarding the export targets during 2023, the head of the Medical Industries Export Council revealed that the council aims to increase the sector’s exports by no less than 30%, stressing that the positive results achieved in 2020, 2021 and 2022 confirm the capabilities of exports to reach the targets for an increase of 30% despite the global conditions.

George added that the African market is promising for the sector’s products during 2023, but there are obstacles that must be dealt with, including the lack of banks that give credit facilities to importers and the long period of transporting goods, which may take about 4 months from the source to the importer, revealing a strategy to increase exports to the African market based on Establishment of 6 logistic centers in a number of African countries “Kenya-Morocco-Mauritius-Nigeria-Zambia-Algeria”.

-

Dr. Maged George revealed a proposal to support logistical centers similar to the support provided to companies participating in foreign exhibitions, so that a local representative is appointed in the logistic center to communicate with wholesalers in importing countries, which achieves greater effectiveness in concluding deals, and this proposal is being discussed with the Ministry of Commerce. and industry.

--

To trade and invest in the Egyptian Stock Exchange, click here

Nominations:

SODIC’s profits grow 31% to 296 million pounds in the first half

-

--

PREV “Cairo News” channel: 1.2 million French participated in yesterday’s protests – world news
NEXT Trump resorted to “constitutional immunity” 400 times in an interrogation related to the tax file. Video