PXL/HO/Cir-128/2020-21 Date: 12.02.2021
Subject: Regarding import regulation of pharmaceutical products in Algeria.
We are pleased to share the important updates on import regulations of pharmaceutical products in Algeria, which we have received from the Indian embassy in Algeria.
Members are kindly aware Algerian economy has been traditionally dependent on export of Hydrocarbons. With the outbreak of the Covid-19 pandemic that led to the fall of oil prices in the world, Algerian exports have suffered much. It has been the endeavor of the government to regulate its imports in order to save its foreign exchange reserves. In fact, with fall in crude prices since the past few years even before pandemic, Algerian foreign exchange were deplete rapidly.
As a measure to stop the fall of foreign exchange, in September 2020 the Ministry of Pharmaceutical Industry has decided to make it mandatory to submit the Regulatory Certificate to the banks for the import of Pharmaceutical products as well as raw materials, inputs , packaging articles, Excipients and also the raw materials used in medical device.
However, five months later in January 2021, the Ministry of Pharmaceutical Industry decided to lift the obligation to submit a Regulatory Certificate to the banks for imported pharmaceutical products and other materials. Though It is still believed that Algerian banks are delaying payments despite lifting on this regulation and exporters are suffering in receiving payments.
Members may kindly make a note of this important information while dealing with the Algeria market.