The ‘2023 ICPI Week (International Pharmaceutical and Cosmetics Week)’ exhibition was held on the 18th at KINTEX Exhibition Center 1, Goyang, where you can look at the entire supply chain from drug and cosmetics development to manufacturing and distribution. This exhibition will be held under the supervision of the exhibition organizers Contest Exhibition and KY Expo, and will run until the 21st (Fri).
At this exhibition, raw drug, finished drug, and fine chemical companies from India, a pharmaceutical and fine chemical production powerhouse, will exhibit as a group at ‘Korea Pharm & Bio 2023’ and ‘Korea Chem 2023’. prepared. This trade group is comprised of 3 member companies from three export promotion organizations under the Indian government, including the Indian Pharmaceutical Import and Export Association (Pharmexcil), the Indian Pharmaceutical Association (IDMA), and the Indian Basic Chemicals, Cosmetics and Fine Chemicals Promotion Council (Chemexcil).
In addition, the Indian trade group provided a venue to introduce its members to Korea through this exhibition, and held an international forum and B2B consultation for business collaboration between Korean and Indian bio and fine chemical companies.
In order to seek international cooperation with the Korean pharmaceutical and bio industry, the Indian Embassy in Korea (Ambassador Amit Kumar) held the ‘Korea-India Pharmaceutical Business Forum and B19B Conference’ on the second day of the exhibition, the 1th (Wednesday), in rooms 306 and 307 of KINTEX Exhibition Hall 2. Hosted and supported. At this forum, which was held to develop the pharmaceutical sector of both countries, strengthen business partnerships, and form networking, the current status of the pharmaceutical industry and regulatory policies of both countries were announced, an MOU signing ceremony followed, followed by a networking luncheon. One-on-one B1B meetings were held with pharmaceutical, cosmetic, and fine chemical manufacturers, distributors, and importers.
“As of 2021, South Korea exported 30.7 billion dollars to India, an increase of about 156% from the same period last year, and India exported 64.4 billion dollars to Korea, a 81% increase. Achieved maximum trade amount. In particular, in the case of raw material pharmaceuticals, as of 2021, Korea is importing more than 10% of total imports, or $23 billion, from India, which is the second largest amount among raw material imports.”
Director Shin continued, “Amid the recent international situation where the supply chain of raw materials has become unstable due to global crises such as COVID-19, cooperation between India and Korea, which play a major role in the global drug substance market, in the pharmaceutical field is very important.” In order to further develop cooperative relations between the two countries, a time was set aside to share each other’s pharmaceutical regulatory systems and promote mutual understanding. After the forum, one-on-one matching B1B consultations between Indian and Korean pharmaceutical companies are also prepared. Through this forum, exchanges between the two countries will become more active and mutual trust will be further built up.”
In particular, as this forum was held in celebration of the 2023th anniversary of diplomatic ties between India and Korea in 50, Director Shin Jun-soo said, “If the two countries maintain an attitude of communication and efforts like today, the cooperative relationship will develop further in the future. The pharmaceutical industry is also expected to grow together. Once again, congratulations on the opening of the Korea-India Pharmaceutical Business Forum, and wish everyone health and happiness.”
Meanwhile, the ‘2023 ICPI Week (International Pharmaceutical and Cosmetic Week)’ exhibition, which allows you to look at the entire supply chain from pharmaceutical and cosmetic development to manufacturing and distribution in one place, is held at ▲International Pharmaceutical and Bio Industry Exhibition (KOREA PHARM) & BIO) ▲International Cosmetic Raw Materials and Technology Exhibition (CI KOREA) ▲International Research, Experiment and Analysis Equipment Exhibition (KOREA LAB) ▲International Chemical Equipment Industry Exhibition (KOREA CHEM) ▲International Pharmaceutical, Bio and Cosmetic Technology Exhibition (COPHEX) ▲International Logistics Industry Daejeon (KOREA MAT) ▲It consists of the International Cold Chain Industry Exhibition (KOREA COLD CHAIN).
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