Egyptian investors, ready to bring their experience on a very competitive Romanian medical market

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Giurgiu and Bucharest, target investment areas.

Egyptian state left behind conflicting social events and looks forward to search new markets in its way to achieve economic prosperity. Romania is one of the target markets for investing. Thus, besides agriculture, Egyptians eye domestic medical market. Between November 3-6 a business delegation of 16 companies visited Romania, attending a special workshop organized by Egypt Expo & Convention Authority and The Export Council for Medical Industries (ECMI) with Embassy of the Arab Republic of Egypt in Bucharest support – Economic & Commercial Office. Their purpose was to establish partnerships with local industry companies and, thus, to increase exports in Romania.

“I’m confident that other groups of businessmen will come, not only from the pharmaceutical industry, but also from other industries. The success of this mission is reflecting positively the economic and trade relations between Egypt and Romania,” HE Ambassador of Egypt to Romania, Alaa El Hadidi told ‘The Romania Journal’.

With their vision of positioning the country as a premium medical vendor to the regional and global community with an unremitting drive towards innovation, competitiveness and transparency, the Egyptian investors visited some local industrial areas. Giurgiu was one of the locations of interest. Then they visited Capital’s hospitals to understand better the problems faced by the local health system.

“This was a great mission aiming to explore the Romanian market, because we consider that your market is big enough and very promissing, especially after joining the European Union. We want to explore all the capabilities and posibilities to export our products to the Romanian market. In Egypt are 126 pharmaceutical factories which are covering all kind of products. Also, this first mission was meant to know the legislation procedure and to get more informations about fees and registration for Egyptian companies to enter Romanian market,” Awad Gabr Khalil, Managing Director of EIMC United Pharmaceuticals (EUP) said in his turn for readers.

Egypt’s drug is one of the largest in the Middle East and North Africa (MENA) region and its medical industries consists of three main sectors: pharmaceutical, cosmetics, medical devices. Currently, the Egyptian pharmaceutical market has a EUR 3 billion value, according to ECMI data. Egypt has almost 100 medicinal products which are also registered at Romanian Ministry of Health (MOH).

“According to the meetings findings, it is expected that more products will have marketing authorization in this market. There are huge chances for Egyptian investment in Romania on this subject,” Rahman A. Raouf, Minister Plenipotentiary for Economics&Commercial Affairs from Embassy of the Arab Republic of Egypt said, attending the event. According to him, the Romanian side has expressed, in its turn, a positive response on the capabilities and opportunities of doing business with Egyptian investors, 23 domestic companies showing already their interest on partnerships.

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