Summary:

During an early December 2022 economic mission in Cote d’Ivoire, representatives from a Tunisian business interest group, CONECT (Confederation of Tunisian Citizen Enterprises), signed a memorandum of understanding (MOU) with their Ivorian counterpart.  The MOU will support economic exchange between the two countries and create more opportunities for investors to explore opportunities and for B2B connections to be facilitated. Additionally, during the same economic mission, the Arab Society for Pharmaceutical Industries (SAIPH), one of Tunisia’s largest pharmaceutical laboratories, announced plans to construct a production facility in Cote d’Ivoire that would boost production and employment opportunities.

Outlook:  

We are continuing to watch how Tunisia explores opportunities for economic diversification across sectors and markets. Particularly with ongoing challenges in the domestic pharmaceutical sector, this industry will inevitably see evolution as manufacturers look for additional markets and investment opportunities.  In the short and medium term, this development will likely have a limited impact on Tunisia’s domestic pharmaceutical supply and financing shortages.