Category: Medical Device

The Brunei Times: APEC workshop on ethical business practices in the medical device sector commences

As trade among APEC economies continue to grow, there is a growing realisation that ethical business practices are needed to sustain and expand trade in the region.

A welcome reception was held yesterday for a workshop aimed at drafting voluntary codes of business ethics for the medical device sector at the Empire Hotel & Country Club.

"The workshop will certainly contribute towards improving understanding ethical business codes and facilitate better alignment of industry practices across APEC economies," said a statement from the Ministry of Industry and Primary Resources.Noting that the medical device industry covers a wide spectrum of products used in the treatment of patients including cardiovascular devices, dental equipment, diagnostic devices, medical equipment and supplies, ophthalmic devices, orthopaedic devices, respiratory devices and surgical equipment, this sector offers a lot of business opportunities for SMEs, said the ministry.

The value of global medical device industry in 2010 was US$164 billion, and is expected to hit US$228 billion in 2015.

Some of the leading producers of medical devices globally are APEC member economies such as the USA, Canada, China, Japan, Korea and Chinese Taipei.

The guest of honour for the welcoming reception was Yang Berhormat Pehin Orang Kaya Seri Utama Dato Seri Setia Awang Haji Yahya bin Begawan Mudim Dato Paduka Haji Bakar, the Minister of Industry and Primary Resources.

Also in attendance were Dr Robert Sun-Quae Lai, the 34th APEC Small and Medium Enterprises Working Group Meeting Chair; Mr Christopher White, the Executive Vice President, General Counsel and Secretary of The Advanced Medical Technology Association (AdvaMed); Ms. Lynn Costa, Senior Trade Development Advisor, United States Department of Commerce, as workshop coordinator.

The Permanent Secretary and Deputy Permanent Secretaries from the Ministry of Industry and Primary Resources as well as Fauziah Dato Seri Paduka Hj Talib from the APEC Business Advisory Council, Brunei Darussalam, were also present.

See Article Here: http://www.bt.com.bn/business-national/2012/04/23/apec-workshop-ethical-business-practices-medical-device-sector-commence

 

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