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Egyptian Drug Authority, South Korea explore upgrading pharmaceutical cooperation Korean Ambassador expresses interest of national pharmaceutical companies to enter Egyptian market
Tamer Essam, Chairperson of the Egyptian Drug Authority (EDA), has met with South Korea Ambassador in Cairo, Hong Jin Wook, to discuss boosting medical and pharmaceutical cooperation between the two countries. In the Saturday meeting, Ambassador Hong lauded the EDA role in securing Egypt's needs of medical supply, despite challenges resulting from the global pandemic. He stressed that the health sector is one of the important facets for the two countries' cooperation, which can be further strengthened especially with the designation of Egypt as a priority country for Official Development Assistance (ODA) in the coming five years. He expressed Korean medical companies' interest to enter the Egyptian market, given Egypt's plan to be a regional hub for medical and pharmaceutical supply. Ambassador Hong highlighted the importance of cooperation with EDA in facilitating the access of Korean companies to the Egyptian market, which will help transfer the know-how and Korea's advanced technologies in the medical field. For his part, Essam thanked Ambassador Hong for his efforts to strengthen the bilateral medical cooperation, affirming the role of EDA in facilitating the Korean companies' access and presence in the Egyptian market through joint ventures and localization of strategic industries. He expressed his keenness to cooperate closely with the Korean Embassy to further enhance the medical and health cooperation between the two countries. Ambassador Hong also pointed to the briefing session scheduled for 27 September to introduce the potentials of the Egyptian medical and pharmaceutical market to Korean investors with the possible presence of Egyptian Minister of Health Hala Zayed and around 50 Korean companies. Ambassador Hong extended the invitation to the EDA Chairperson to participate in the event, which will help promote better understanding for Korean companies about the Egyptian medical sector.
