WORLD> Middle East
Obstacles blocking drug trade between Jordan, Egypt removed
(Xinhua)
Updated: 2008-12-17 17:08

AMMAN -- Jordan and Egypt have removed "once and for all" obstacles hindering the entry of Jordan-made pharmaceuticals into the Egyptian market, local daily The Jordan Times reported on Wednesday.

"We have agreed to solve all outstanding issues in order to encourage joint cooperation between the two countries' drug manufacturing companies," Minister of Industry and Trade Amer Hadidi said Tuesday at the end of the preparation meetings of Joint Jordanian-Egyptian Higher Committee.

Jordanian pharmaceutical manufacturers have been struggling with restrictions set by Cairo over granting their products access to the vast Egyptian market.

Joint Jordanian-Egyptian Higher Committee is scheduled to convene Wednesday in Jordan's capital of Amman, with both sides due to sign a total of 21 deals, including an agreement on imported Egyptian gas.

Jordan, which imports almost all its energy needs, relies Egyptian gas to generate 85 percent of its electricity.

In 2004, Egypt agreed to supply Jordan with 2.3 billion cubic meters of gas a year at a preferential price for 15 years, but the agreement excludes private industries.

The two sides reached an agreement late last year to supply the industrial sector in the kingdom with an additional 550 million cubic meters of gas a year.

According to Hadidi, trade exchange between the two countries amounted to about $629 million  during the first nine months of the year, up 30 percent compared to the same period in 2007.

The trade exchange in 2006 stood at 526 million dollars and grew by 23 percent in 2007, reaching $650 million, added the minister.