Talks are underway to open China’s market to Indian drugs.
The trade relationship between India and China may be changing as trade issues between China and the US continue to escalate. According to China’s Foreign Ministry spokeswoman Hua Chunying: “China and India … are in sound communication on opening the Chinese market to drugs from India and conducting dialogue and cooperation between the two sides’ pharmaceutical industries.” In addition, Hua noted that different Chinese government agencies “have formulated specific measures on promoting China-India pharmaceutical trade cooperation and granting greater access to drugs from India.”
Steps are already being taken to move this along. In June, China was reported to have offered to train Indian pharmaceutical companies on its drug regulatory system. In addition, China has said it will consider granting expedited review to Indian drugs that previously received approval in Europe, according to Dinesh Dua, Chairman of the Pharmaceutical Export Promotion Council (Pharmexcil) under India’s trade ministry.
Pharmexcil also expects to sign an agreement with the China Chamber of Commerce for Import and Export of Medicines and Health Products, easing clearance processes and helping Indian companies find Chinese partners, according to a government document seen by Reuters. Another senior Indian government official told The Economic Times that “China has assured us that they would provide a platform for Indian exports of pharmaceutical products and would also impart specific training to our companies to understand the Chinese regulatory system and processes.”