AdvaMed Statement on Relaunch of U.S.-India Trade Policy Forum
WASHINGTON, D.C. – Today, the Advanced Medical Technology Association (AdvaMed) issued the following statement from President and CEO Scott Whitaker on news that U.S. Trade Representative Ambassador Katherine Tai and Indian Minister of Commerce and Industry Piyush Goyal met in New Delhi this week to relaunch the U.S.-India Trade Policy Forum (TPF) and establish it as the central venue for discussing the full range of bilateral trade and investment issues and resolving bilateral irritants:
“This is welcome news for patients and for the flourishing strategic partnership between the U.S. and India. We appreciate USTR for highlighting the important role Trade Margin Rationalization (TMR) plays in striking the right balance between improving access to medical devices at affordable rates and ensuring the availability of cutting-edge medical technology. Likewise, we welcome the government of India’s work on this front through its recent application of TMR for certain COVID-19 related technologies. We thank both sides for their hard work, and hope the current momentum continues to advance market access to critical medical technologies and support patients globally in the upcoming Trade Policy Forum cycle.”
Whitaker also affirmed that:
- AdvaMed supports the commitment of both sides to pursue a dialogue on regulatory issues affecting trade in the health care sector and to exchange information on standards, good regulatory practices, and conformity assessment procedures to ensure that requirements are in line with international agreements, noting it will be timely and critical as the government of India undertakes an assessment of the regulatory framework for medical devices, drugs, and cosmetics.
- AdvaMed pledges to assist in efforts to find meaningful solutions that contribute to increased foreign direct investment and collaboration between the U.S. and India, especially in the interest of building more resilient supply chains.
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AdvaMed member companies produce the medical devices, diagnostic products and digital health technologies that are transforming health care through earlier disease detection, less invasive procedures and more effective treatments. AdvaMed members range from the largest to the smallest medical technology innovators and companies. For more information, visit www.advamed.org.