The Algerian Company for Export Insurance and Guarantee (Cagex) and the public pharmaceutical group Saidal have taken an important step in promoting Algerian exports. The two entities have signed a framework agreement aimed at facilitating and securing Saidal’s pharmaceutical product exports.
This strategic alliance is part of national efforts to diversify the Algerian economy and reduce its dependence on hydrocarbons. The rapidly expanding pharmaceutical sector is considered a key vector for this diversification.
The agreement provides for several concrete measures, insurance coverage tailored to Saidal’s specific needs for its export activities, personalized support from Cagex in assessing risks related to international markets, training on best export practices for Saidal’s teams and sharing of information on foreign market opportunities.
For Saidal, this partnership represents an opportunity to secure its international operations and accelerate its expansion into foreign markets, particularly in Africa and the Middle East. The group will be able to benefit from Cagex’s expertise in managing commercial and political risks.
For Cagex, this collaboration is part of its mission to support Algerian exporters. By working closely with a major player like Saidal, the insurance company strengthens its role in the national strategy to promote non-hydrocarbon exports.
Algerian authorities see this type of public-public partnership as a model to follow for stimulating exports in other strategic sectors. This collaborative approach could pave the way for similar initiatives in other industries with high export potential.
As Algeria seeks to diversify its economy and establish itself as a regional player in the pharmaceutical industry, this agreement between Cagex and Saidal marks an important milestone. It illustrates the country’s willingness to create an ecosystem favorable to exports, combining sectoral expertise and institutional support. R.E
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