Cairo – Egypt’s Export Council for Medical Industries (ECMI) seeks to export and prospect investment opportunities in Mercosur countries, particularly in the Brazilian market, through cooperation with the regional office of the Arab Brazilian Chamber of Commerce (ABCC) in Cairo.
The office director, Michael Gamal, met with the president of the ECMI, Magued Georges, this week to discuss opportunities for cooperation between the two institutions to facilitate the export of Egyptian medical products to the Brazilian market and vice versa, and encourage manufacturing partnerships between both countries.
Gamal informed the Mercosur free trade agreement with Egypt plays an essential role in the development of Brazil-Egypt trade relations; Egyptian exports to the Brazilian market, which amounted to USD 147 million in 2017, the year in which the agreement came into effect, rose to USD 620 million last year.
He said the office received a delegation with Brazilian Medical Devices Manufacturers Association (ABIMO) member companies which held meetings with Egyptian companies and investment authorities to discuss export opportunities and investments for Brazilian products in Egypt and Africa.
Gamal gave the ECMI an overview of the Brazilian market, especially the opportunities for pharmaceutical products and medical supplies from Egypt. According to him, Brazil is among the world’s biggest economies, and medication prices are high in the country, thus generating tremendous opportunities for Egyptian suppliers.
Cooperation
The two institutions agreed to coordinate drafting a detailed study and analysis of Brazilian imports of medicines, medical supplies, and cosmetics. They also discussed the possibility of signing an agreement between the Egyptian and Brazilian drug authorities and ways to reduce the cost of transporting products between the countries.
Gamal spoke of the role the ABCC has played in registering Egyptian companies in Brazil and vice versa and detailed his experience with a Brazilian company in the ceramics sector in Egypt. He said the ABCC could help companies quickly register in Brazil or Egypt.
In addition to Hegazi and Gamal, other ECMI members, such as Ahmed Hegazi, participated in the meeting. Also at the meeting were the executive director of the ECMI, Rasha Nasr, and the director of International and Governmental Relations of the ABCC’s regional office in Egypt, Rania Hagrass.
Translated by Georgette Merkhan & Elúsio Brasileiro
