The Egyptian Drug Authority (EDA) has announced the launch of an export subsidy initiative, which aims to support Egyptian exports of pharmaceuticals and medical supplies.
The introduction of the initiative comes as part of the government’s interest in raising export rates across all economic sectors, and in line with Egypt’s Vision 2030. The government has also set an export value of $100bn in Egyptian products, whilst reducing the country’s dependence on imports.
EDA Spokesperson Ali Al-Ghamrawy said that the initiative will target the facilitation of export procedures, whilst working to overcome all challenges that stand in front of their flow to foreign markets. This will come in addition to raising the level of global competitiveness of Egyptian medical supplies.
Al-Ghamrawy also said that the initiative has begun reviewing and updating all export procedures at the EDA, to ensure that they comply with global regulatory rules.
He added that the next phases of the initiative will include inviting all pharmaceutical companies to update the data of their medical preparations registered abroad. This comes in addition to the preparations and production lines that have international accreditation, in order to offer encouragement packages for companies.
“The EDA has updated the procedures of manufacturing for export systems, which allows the production of preparations registered abroad on local production lines without the need to register them with the authority,” Al-Ghamrawy said, “This is provided that they are fully exported abroad and not traded in the local market.”
This comes within the framework of the EDA’s keenness to support the country’s pharmaceutical industry and encourage exports. It aims to do so by facilitating export procedures and raising the level of global competitiveness for Egyptian pharmaceuticals.