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Strengthening Cooperation in the Health Industry

between Korea and Paraguay

 

– Paraguay Delegation for Healthcare Cooperation Visits Korea (Oct. 21–25) –

 

– Enhancing Market Entry Opportunities for Korean Pharmaceuticals and Medical Devices

in Paraguay –

 

The Ministry of Health and Welfare (Minister Cho KyooHong) and the Korea Health Industry Development Institute (President Cha Soon-do) hosted a series of events from Monday, October 21, to Friday, October 25, for the visiting Paraguay Delegation for Healthcare Cooperation, to facilitate the entry of the Korean health industry into the South American market.

 

The events were intended to strengthen cooperation in the health industry between Korea and Paraguay, following the signing of a Memorandum of Understanding (MOU)* on March 15 between the health ministries of both countries and the revision of Paraguayan regulations on June 7 to designate Korea as a high sanitary surveillance country**.

 

* Areas of cooperation: (1) Universal health coverage, (2) Infectious disease prevention and control, (3) Health industry promotion, including medical devices, (4) Others

** Simplified approval process for products in Paraguay if GMP (Good Manufacturing Practice) certificates issued by testing institutions designated by Korea’s Ministry of Food and Drug Safety are submitted

The Paraguay Delegation for Healthcare Cooperation consisted of eight members, including Héctor Rubén Figueredo Notario, a member of the House of Representatives, along with officials from the Ministry of Public Health and Social Welfare, the Ministry of Industry and Trade, the National Directorate of Sanitary Surveillance (DINAVISA), the Social Security Institute (IPS), and three business representatives. Notably, representatives from the Ministry of Health and IPS included members from their public procurement and purchasing departments.

 

During the visit, the delegation engaged in various activities, including a briefing on market entry opportunities for pharmaceuticals and medical devices in South America and one-on-one consultations. They also visited Korean pharmaceutical and medical device associations and manufacturers and toured Korean medical institutions and a health checkup center to gain insight into Korean products and explore potential areas for cooperation.

 

Further discussions were held between DINAVISA and Korea’s Ministry of Food and Drug Safety on follow-up measures related to the high sanitary surveillance country designation, including expedited procedures. Both governments also discussed practical ways to enhance cooperation in the health industry during a bilateral meeting.

 

The Paraguayan delegation emphasized, “Paraguay has designated the medical product manufacturing industry as a key sector for economic development in 2023. As a member of the Southern Common Market (MERCOSUR)*, the Paraguayan market serves as a strategic hub for expanding the health industry across South America.”

 

* MERCOSUR is a political and economic bloc comprising nine South American countries, including Brazil, Argentina, and Paraguay. It allows for tariff-free trade of designated items, including pharmaceuticals and medical devices, among member states

 

It also expressed their commitment to expanding cooperation between Korea and Paraguay to enable Korea’s high-quality products and healthcare system to enter the Paraguayan market promoting the health and well-being of the Paraguayan people and fostering industrial development.

 

Jung Eun-young, Director General of Health Industry Policy at the Ministry of Health and Welfare, remarked, “This event successfully promoted Korea’s advanced medical technologies and products. The government will continue to provide active support for Korean companies to establish a foothold in the South American market through entry into Paraguay.” ///

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Publish date : 2024-10-28 20:28:00

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