Health Sector Trade Delegation to Georgia Held

Healthcare Sector Georgia Sectoral Trade Mission Completed The Istanbul Chemical Substances and Products Exporters Association (İKMİB) organized a "Healthcare Sector Georgia Sectoral Trade Mission" for the pharmaceutical and food supplements (OTC) sector between 27-30 June 2022. The event, which included 19 buyer companies, saw 13 representatives from 9 Turkish firms operating in the healthcare sector conduct a total of 55 bilateral business meetings. The sectoral trade mission, organized by İKMİB for all healthcare sectors, particularly pharmaceuticals sold to end-users in pharmacies and OTC products, took place in Tbilisi, the capital of Georgia, between 27-30 June 2022. The sectoral trade mission, aimed at contributing to increased sector exports, was attended by 13 representatives from 9 Turkish firms along with A. Altuğ Oğuz, İKMİB TİM Delegate. During the four-day event, meetings were held with the Trade Office of the Republic of Turkey in Tbilisi, the Independent Industrialists and Businessmen Association (MÜSİAD) Tbilisi, and the Georgian Turkish Businessmen Association (GÜRTİAD); additionally, GEA company, one of the largest importers and distributors of pharmaceutical products in the Caucasus region, was visited on-site. The Georgian Ministry of Health provided information to the delegation on the sector, and a meeting was held with Irakli Margvelashvili, representative of the Association of Pharmaceutical Companies Representatives in Georgia (APCR).

A total of 55 bilateral business meetings were conducted

A total of 55 bilateral business meetings were held during the four-day event, attended by 28 Turkish and Georgian firms combined, where new business cooperation opportunities were discussed. In the bilateral business meetings, leading Georgian companies and suppliers in the sector came together with Turkish firms.

Adil Pelister: "Georgia holds significant market potential for Turkish healthcare sector"

Adil Pelister, Chairman of the İKMİB Board of Directors, pointed out that Georgia carries significant market potential for the Turkish healthcare sector and stated: "Based on information we received from the Georgian Trade Office, we learned that Georgia will soon readjust pharmaceutical prices and the market will open to quality Turkish medicines. Furthermore, we believe that the expected positive developments will be beneficial not only for the pharmaceutical sector but also for our medical and cosmetics sectors. In this context, we organized our sectoral trade mission for member firms operating in the healthcare sector. In this way, we help our exporters learn about the market on-site, visit important companies, and conclude new business cooperation agreements through bilateral business meetings. Market diversity is important for our exporters. As the chemical sector, we are among those sectors that export to the most countries and regions. Therefore, we try to take advantage of every opportunity we see potential in," he said.

Pelister: "Our pharmaceutical exports to Georgia increased by 127 percent over the last 5 years"

Noting that pharmaceutical product exports were USD 1 billion in 2019 and USD 1.42 billion in 2021, Pelister stated, "This year, our pharmaceutical product exports in the first quarter reached USD 347 million. The share of the sector from chemical exports rose from 20 percent to 36.1 percent in 2021. Our pharmaceutical exports to Georgia increased by 127 percent over the last 5 years, rising from USD 27.3 million to USD 61.8 million. In contrast, pharmaceutical imports from Georgia increased from USD 197 thousand over the last 5 years to USD 360 thousand. We see that our exports are increasing at a faster rate and significantly compared to imports. Therefore, this potential in Georgia excites us. As İKMİB, we will continue to carry out such activities that will support our sector," he said.