UK companies are set to create business partnerships with the flourishing healthcare sector in China thanks to a collaboration between Medilink Yorkshire and Humber and the China Medical Device Association (CAMDI).
Medilink Y&H visited China in April 2007 to sign a Memorandum of Understanding which puts in place arrangements for promoting exchange and cooperation in trade, technology and research and development (R&D) between the member companies/organisations.
The collaboration will see Yorkshire and Humber act as a UK regional gateway to further strengthen the medical devices industry in the UK and China. This will enable companies to innovate, new businesses to emerge and working partnerships to develop; increasing access for companies to market within China and Europe.
The Chairman of Medilink Y&H, Gareth Lloyd-Jones, said: “I am looking forward, through the establishment of this long term partnership, to building a closer working relationship with organisations in China.”
“The partnership is designed to reflect the emphasis that continues to be given to science and technology within China. This includes the expectation that by 2020 this industry will account for 60 per cent of the country’s economic growth and R&D spend is set to have increased from 1.3 per cent to 2.5 per cent of GDP.”