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AiMeD and Busan Technopark ink MoU to promote the Indian and Korean medical devices sector

In a bid to further provide an impetus to the Indian and Korean medical device industry, the Association of Indian Medical Device Industry (AiMeD) has inked a memorandum of understanding (MoU) with Busan Technopark from the Republic of Korea to jointly work and promote the medical devices industry in both the countries. The agreement was signed by Rajiv Nath, Forum Coordinator, AiMeD and Soo-Hoo Shin Chief of Healthcare Tecnique Division from Busan Technopark. The objective of the MoU is to promote the development of business relations between India and the Republic of Korea, promoting bilateral trade, investment in both countries, and the development and exchange of technology.

This would also encourage and promote participation from both the countries at various business platforms created by AiMeD and Busan Technopark.

Through this cooperation AiMeD and Busan Technopark will provide assistance for visiting delegations, comprising officials and businessman, on both sides with a view to promote their business missions and facilitate business collaborations. AiMeD will also offer business-to-business match making with regard to promotion of technology and investment tie-ups to companies based in Republic of Korea. Similarly, Busan Technopark will assist AiMeD members in their business endeavors. The medical devices sector is being seen as the next big thing after IT and defense sectors and India has the potential to emerge as a major manufacturer and exporter on the lines of pharma products. The government has undertaken several measures to promote its ambitious Make in India mission in medical devices. The MoU between AiMeD and Busan Technopark is in line with realizing these national objectives.

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