The organization of the B2B event was an opportunity to highlight the significant potential of the Arab and African markets in the pharmaceutical sector, establish business partnerships, and foster collaboration between operators from both regions. The focus on the sector is aligned with United Nations Sustainable Development Goal 3 (Good Health and Wellbeing) and equally stands to strengthen the harmonization of African standards to facilitate intra-African trade in pharmaceuticals and medical devices.
The B2B event saw the participation of corporations, stakeholders, and National Pharmacies from Tunisia, KSA, Egypt, Benin, Togo, Algeria, Congo, Mauritania, Comoros, Djibouti, Madagascar, Senegal, Mali, Cote d’Ivoire, Niger, Tchad, Guinea, and Burkina Faso as well as representatives from the ACAME - Association Africaine des Centrales d'Achats de Médicaments Essentiels (the African Association of Central Purchasing Centers for Essential Medicines) who witnessed the signing of business and partnerships deals between different participants.
During his opening remarks at the Buyers/Sellers Meeting on Pharmaceuticals products & Related Industries in Tunis, Eng. Hani Salem Sonbol, CEO of ITFC and AATB Secretary General, said: "The primary goal of the Arab-Africa Trade Bridges Program (AATB) is to strengthen trade and investment relations between the African continent and the Arab world by offering financing, insurance, and technical assistance packages aimed at increasing trade exchange between the two regions. As the pharmaceuticals and medical devices sector offers cross-broader growth opportunities, the AATB program is focused on nurturing trade in this critical sector."
The event underlines AATB’s special interest in the pharmaceutical sector in the regions and comes to complement ongoing work for harmonization of African standards to facilitate intra-African trade in pharmaceuticals and medical devices in partnership with the African Organization for Standardization (ARSO).
Distributed by APO Group on behalf of International Islamic Trade Finance Corporation (ITFC).
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About the Arab-Africa Trade Bridges (AATB) Program:
The AATB Program is a multi-donor, multi-country, and multi-organizations program supported by African Export-Import Bank (Afreximbank), Arab Bank for Economic Development in Africa (BADEA), Islamic Development Bank, The International Islamic Trade Finance Corporation (ITFC) The Islamic Corporation for the Insurance of Investment and Export Credit (ICIEC), The Islamic Corporation for The Development of The Private Sector (ICD), and The OPEC Fund for International Development. The Program aims to promote and increase trade and investment flows between African and Arab OIC Member Countries; provide and support trade finance and export credit insurance and enhance existing capacity-building tools relating to trade. The Program specifically focuses on supporting the key sectors of agriculture and related industries including textiles; the health industry including pharmaceuticals; infrastructure and transport; and petrochemicals, construction material, and technology.
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