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AdvaMed Commends APEC Focus on Health Initiatives
BALI, INDONESIA – Stephen J. Ubl, president and CEO of the Advanced Medical Technology Association (AdvaMed), released the following statement in response to the Asia-Pacific Economic Cooperation (APEC) forum’s Joint Ministerial Statement and Leaders’ Declaration at the conclusion of the Oct. 5-7 APEC CEO Summit in Bali, Indonesia.
“AdvaMed commends the APEC ministers and leaders for the increasing prominence of health-related concerns in their work, in particular APEC’s commitment to creating ethical business environments that support sustainable economic growth.
“For more than three years the medical device and diagnostics industry has been proud to work with the APEC forum to advance our shared goal of improving business ethics through establishment and promotion of the Kuala Lumpur Principles for ethical interactions between medical technology firms and health care providers. As of this year, more than two-thirds of APEC members have adopted codes that conform to these principles.
“As U.S. Secretary of State John Kerry so eloquently stated on Monday at the summit, ‘we cannot forget that corruption corrodes our markets by raising the cost of doing business, it brews uncertainty, it creates inefficiency, it undermines good governance, and it frightens away capital. Put simply, it slows down growth.’”
“We also commend APEC’s work to advance regulatory coherence and cooperation by ensuring internal coordination of rule-making, assessing the impact of regulations, and conducting public consultations on proposed regulations.
“Across the APEC region and in developing economies around the world, growing middle classes are demanding greater access to the advanced treatments and cures our industry provides. At the same time, aging populations and rising rates of chronic disease are posing new burdens for business, society and governments through increased health costs, reduced worker productivity and diminished economic competitiveness.
“It’s important to remember that access to advanced medical devices and diagnostics are helping solve these challenges. Healthy environments, preventive health care efforts, health literacy, early diagnosis and interventions, and safe and effective treatments and cures, help people live longer, healthier and more productive lives that will contribute to sustainable economic growth.
“At the conclusion of this year’s summit, AdvaMed looks forward to working with China as the host country of next year’s APEC CEO Summit in Beijing.”
The annual event brings together economic leaders from the 21 APEC economies to discuss a range of issues with the aim of expanding economic ties that support sustainable growth and prosperity in the region.
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AdvaMed member companies produce the medical devices, diagnostic products and health information systems 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.