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"Medicines exporters": disbursing the arrears of exporters, provides liquidity and supports the sector

Dr. Majed George, Chairman of the Medicines Export Council, praised the Export Development Fund issued 583 certificates to exporters, with a total support amounting to 2.7 billion pounds, with a net worth of 2.5 billion pounds, stressing that the continued disbursement of arrears to exporters contributes to providing liquidity to factories operating in the export sector.

"The availability of these receivables confirms the state's clear direction to support the export sector, and the speed of responding to the export burdens due to the exporting companies helps them meet the needs in light of the Coronavirus crisis, and contributes greatly to increasing their production capabilities and enhancing competitiveness," George said in statements to "The Seventh Day." Egyptian products in foreign markets.

On the other hand, Dr. Majed George explained, that the African market is a main window for Egyptian exports and can be expanded in the coming period and to meet the needs of this market in terms of medical supplies, stressing the importance of the Egyptian presence in the countries of the African continent, and this is very clear in the export support program, which supports shipping to Africa.

He pointed out that there is great support for the trend towards Africa led by Dr. Naveen Jama, Minister of Trade and Industry, stressing in this regard the importance of activating the system of mutual recognition between Egypt and Sudan in the field of medicine in order to facilitate the entry of Egyptian drug products to the Sudanese market.

It is noteworthy that the immediate payment initiative is an initiative launched by the Ministries of Commerce, Industry and Finance in coordination with banks and allows the payment of 85% of the total value of dues immediately, instead of paying them in installments that may take several years, which contributes to providing cash liquidity to enable the exporting companies to fulfill their obligations towards Their customers and keep employment.