29th Korea-Iran Video Conference Held... Discussion on Expanding Exports of Pharmaceuticals and Medical Devices

[Image source=Yonhap News]

[Asia Economy Reporter Lim Cheol-young] The government announced on the 29th that it will hold a video conference with the Iranian side to expand humanitarian trade with Iran and comprehensively discuss ways to increase exports of pharmaceuticals and medical devices.

On our side, Lee Sung-ho, Economic Diplomacy Coordinator at the Ministry of Foreign Affairs, will serve as the chief representative, accompanied by officials from the Ministry of Health and Welfare, Ministry of Strategy and Finance, Ministry of Trade, Industry and Energy, Korea Health Industry Development Institute, Korea Medical Devices Industry Cooperative, Korea Trade-Investment Promotion Agency, and Strategic Materials Management Institute. On the Iranian side, Mohammad Reza Shanehsaz, head of the Food and Drug Administration, will serve as the chief representative, with participation from the Ministry of Health, Ministry of Foreign Affairs, and Central Bank of Iran.

The video conference will proceed in a format where the Iranian side presents the types and quantities of pharmaceuticals and medical devices they need to import, and our side introduces companies interested in exporting the presented items.

Through the meeting, it is expected to promote the opening of export channels for many of our pharmaceutical and medical device companies that have limited experience exporting to Iran, and to expand humanitarian trade through matching between exporters and importers of both countries.

The government will also review the humanitarian trade performance resumed with the export of genetic disease treatments to Iran at the end of May and discuss administrative and institutional support measures to ensure stable follow-up exports.

Meanwhile, prior to the video conference with the Iranian side held today, the government plans to hold the 2nd meeting of the Inter-Ministerial Task Force (TF) for Expanding Humanitarian Trade with Iran, launched on June 5, chaired by Ko Kyung-seok, Director-General of the Africa and Middle East Bureau at the Ministry of Foreign Affairs, to review progress on current issues and the support system for exporting companies.

An official from the Ministry of Foreign Affairs explained, "The government has been making efforts such as company briefings and export consultations based on consultations with domestic banks to ensure that humanitarian trade with Iran can continue to increase without violating US sanctions, and will continue close consultations with related countries including Iran and the US."

This content was produced with the assistance of AI translation services.