'BIX 2022' Cross-Border Bio Cooperation... Korea Bio Association and China Ministry of Commerce Investment Promotion Office Sign Agreement

[Asia Economy Reporter Lee Gwan-joo] The Korea Bio Association and the China Ministry of Commerce Investment Promotion Office Korea Branch announced on the 4th that they signed a Memorandum of Understanding (MOU) for linkage cooperation between companies of the two countries at 'BioPlus-Interphex Korea 2022 (BIX 2022)' held at COEX, Seoul.

This agreement was prepared to commemorate the 30th anniversary of Korea-China diplomatic relations at the Open Innovation Center, which was organized as part of BIX. Through the Korea-China Life and Health Quazhing Industry Cooperation Docking Consultation and the Korea-China Pharmaceutical Trade & Joint Project Session, the event sought domestic companies that could serve as pharmaceutical companies, joint clinical trial partners, general distributors, and agents for 'GUANGJIAO Logistics' as a sales channel for OTC (over-the-counter) drugs in China related to the Quazhing pharmaceutical e-commerce platform, and aimed to promote mutual cooperation between the two countries.

Gog Geum-saeng, Commercial Counselor at the Chinese Embassy in Korea, said, “China hopes to strengthen the strategic partnership with the Republic of Korea by closely linking industrial and supply chains through openness, inclusiveness, and cooperation in areas such as trade, science and technology, and healthcare.”

Lee Seung-gyu, Vice Chairman of the Korea Bio Association, emphasized, “As economic cooperation between Korea and China is increasingly required under the RCEP framework, we hope to lay the foundation for cooperation between the bioindustries of the two countries through collaboration among the Korea Bio Association, the China Ministry of Commerce Investment Promotion Office, and the Zhejiang Provincial Department of Commerce.”

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