China's entry into TPP will be of great benefit to China's biotechnology industry.

China's entry into TPP will be of great benefit to China's biotechnology industry.

In order to consolidate the consensus of all walks of life on the government's promotion of TPP accession, the Trade Bureau of the Ministry of Economic Affairs, through the meetings of supervisors and supervisors of various industry associations or members' meetings, took the initiative to explain to the industry the efforts to promote TPP accession and the benefits of the industry. On May 4th, Jenny Yang, director of the Trade Bureau of the Ministry of Economic Affairs, was invited to the general meeting of the Medical and Biotechnology equipment Industry Association in Taiwan to explain the progress of the TPP/RCEP negotiations and the ROC's preparatory work. The members of the association affirmed the government's efforts to promote accession to the TPP and create business opportunities for manufacturers.

Jenny Yang, director of the Trade Bureau of the Ministry of Economic Affairs, pointed out in her speech that from an institutional point of view, joining the TPP will deepen the cooperation between China and the member countries in the biotechnology industry and technology, and help Chinese companies to upgrade their technology and participate in the global supply chain; the removal of non-tariff barriers, information exchange and transparency rules will also help to reduce our export cost, time and regulatory uncertainty, and shorten the time to market.

Jenny Yang, director of the Trade Bureau of the Ministry of Economic Affairs, also welcomes operators to notify the Trade Bureau when they have doubts about the inspection measures of the local government in the export market, and the Trade Bureau of the Ministry of Economic Affairs will assist the industry in further verification. The association has about 400 member manufacturers, and the main related product items include medical consumables, hospital equipment, rehabilitation equipment, medical equipment, diagnostic testing reagents, biomedical materials, etc.

The Trade Bureau of the Ministry of Economic Affairs has always spared no effort to assist in the development and marketing of the medical industry, through diversified marketing practices, including "going out"-assisting our businessmen to participate in international exhibitions; "bringing in"-expanding foreign businessmen to purchase in Taiwan; "replenishing energy"-strengthening the support of talents, funds and information; "expanding the network"-increasing bases, sending top soldiers, setting up business centers and distribution channels. "shaping image"-to enhance Taiwan's industrial image and international brand awareness. In the part of assisting our businessmen to participate in international exhibitions, the Bureau of Trade subsidizes the Medical Association to participate in medical exhibitions in emerging markets such as Yi Jianlian, Brazil, Mexico, Malaysia, Myanmar, Philippines, Vietnam, Russia and other emerging markets to expand business opportunities in overseas markets.

Among the top ten exporters of medical equipment in China, TPP countries include the United States, Japan and Australia, accounting for nearly 1% of the total. In 2014, the export value exceeded NT $20 billion. Take plastic surgery and bone appliances as an example. Australia still has a tariff of 3.3%. If I join the TPP, it will effectively expand the market for these medical devices. As for other TPP members of developing countries, such as Mexico, the average tariff on their non-zero tariff medical products is 5.15%. Joining TPP will also have positive benefits for us to expand this market.

The biotechnology and pharmaceutical industry is a high value-added industry with both innovative R & D and value creation, and the government has made special legislation to reward its R & D investment. In the future, if we successfully participate in regional economic integration such as TPP/RCEP, it will further connect the major global markets and extend to the expansion of emerging markets. China's biotechnology and pharmaceutical industry will be more closely integrated from R & D, listing to the value chain of marketing, and China will become an important city of biotechnology and medicine in the world.

▲ 's entry into TPP will be of great benefit to China's biotech industry.