Medicine exports to hit $300mn by end-2016: Egypt’s ECMI

Egyptian Export Council of Medical Industries (ECMI) targets raising state’s exports of medicine by 5-6 percent to reach US$300 million by the end of 2016.

Speaking to Amwal Al Ghad Sunday, Mohy Hafez – a member at ECMI- stated that pharmaceutical and medical equipment sectors are excepted to attain exports estimated at US$500 million.

The total exports of Egyptian pharmaceuticals sector reached around US$416 million in January-October 2016 opposed to US$414 million, making a 13 percent increase.

The member clarified that the Egyptian pharmaceutical sector faces a number of problems notably losing a number of markets that seize 35 percent of the total volume , i.e. Yemen, Libya, and Iraq, due to political conditions there. “Entering into new markets takes at least three months to get licences.” Hafez noted.