India raises issue of pharma pricing control in Australia – ET HealthWorld | Pharma

New Delhi: India has raised the issue pharmaceutical pricing controls In Australia, especially generic medicines, during the recent bilateral meeting between officials of the two countries. Both sides have decided to work together on a timely solution market access issuesDeepening people-to-people contacts and creating an institutional mechanism for sharing preferential import data, the Commerce Ministry said on Saturday.

bilateral trade Trade between countries declined by 7.7 per cent to US$24 billion in 2023-24, compared to US$26 billion in 2022-23.

These issues, among others, were discussed during the first joint committee meeting (JCM) in Canberra under the India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA).

“Both sides, while acknowledging the smooth implementation of ECTA, briefly elaborated on the ECTA implementation issues including MRA (Mutual Recognition Agreement) on organic products, market access issues related to products like okra, pomegranate, grapes, cheese… “Progress made by the Working Group on Drug Pricing Control in Australia, particularly generic drugs, whiskey and wine,” the ministry said.

It was aimed at addressing regulatory challenges and promoting trade of these products, it said, adding that setting up disease free zones for shrimp and prawn in India was also discussed.

It said some important service issues were addressed at the JCM meeting, including consideration of India’s request to facilitate cross-border e-payments and MRA in professions such as nursing and dentistry.

Chief Meeting between Additional Secretary Rajesh Aggarwal and DFAT Assistant Secretary Ravi Kewalram to review the progress made after nine rounds under the India-Australia CECA (Comprehensive Economic Cooperation Agreement) negotiations and discuss the way forward to complete it. Discussion also took place at the interlocutor level. Aim to reach a balanced outcome.

“Australia is an important trading partner of India in the Oceania region, with merchandise trade between India and Australia set to reach approximately US$24 billion in 2023-24, indicating significant potential for further growth,” it said.

The meeting serves as a platform to further strengthen trade relations and explore new opportunities for cooperation in bilateral economic cooperation in areas such as trade facilitation, investment promotion as well as in other areas including support of technology.

  • Published on May 5, 2024 at 09:41 am IST

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