Malaysia Continues Its Presence In Bio Asia - Taiwan 2023
THURSDAY, JULY 27, 2023, TAIPEI – Malaysia External Trade Development Corporation (MATRADE) continues to intensify its efforts to promote exports of Malaysian medical devices, pharmaceutical and biotechnology related industries globally.
In order to boost Malaysia’s exports of these products to Taiwan, MATRADE in Taipei steered and coordinated Malaysia’s participation in the Bio Asia-Taiwan 2023, currently ongoing in Taipei from 26 to 30 July, with the support of the Malaysian Friendship and Trade Centre (MFTC). Three (3) prominent Malaysian companies participated in the annual event this year under the Malaysian pavilion, namely Hartalega (one of the world’s leading nitrile glove manufacturer), Nova Pharma Solutions (a comprehensive engineering solutions provider for the pharmaceutical and biotechnology industries) and Jin Bin Corporation (manufacturer of herbal medicine and healthcare products – Hurix’s).
“Malaysia is the preferred outsourcing destination and medical device manufacturing hub within ASEAN, thanks to the strong support from the government in developing this industry. Malaysia has established itself as one of the world’s top offshore manufacturing hubs for medical devices, with nearly 300 medical device manufacturing companies undertaking a variety of activities ranging from regional headquarters and manufacturing; to research and development (R&D). Participation in a renowned international event such as Bio Asia-Taiwan will help to boost Malaysia’s branding in the market,” said Ms. Aznifah Isnariah Abdul Ghani, MFTC President.
“Taiwan's growing digital advantage in the bio-medical sector, bio-technology, pharmaceutical, medical devices, precision medicine advances, as well as AI applications, ICT and IoT technologies, will certainly accord greater benefit and collaboration between Malaysian and Taiwanese business communities to complement the global supply chain,” she added.
At the sidelines of the Bio Asia-Taiwan 2023, Malaysia also organised one of the Regional Collaboration Forums with the aim to showcase Malaysia’s capabilities in areas related to medical devices as well as pharmaceutical and biotechnology industries to the Taiwan market. The forum commenced with welcoming remarks by MFTC President Ms. Aznifah, and followed by an address by Dr. C.H. Herbert Wu, Director of the Biotechnology & Pharmaceutical Industries Promotion Office, Ministry of Economic Affairs of Taiwan.
The experts invited to the forum further shared their professional insights on existing and potential opportunities in Malaysia in areas related to life sciences and biotechnology industries. They were Ms. Aninawati Saleh, Director of Trade Division, MFTC (MATRADE Taipei); Mr. Khoo Boo Wie, CEO & Executive Director of Nova Pharma Solutions Berhad; Mr. David Ho, Managing Director of Hovid Berhad and Mr. Jason Hsu, General Manager of IDS Medical Systems (Hong Kong) Co., Ltd. - Taiwan Branch, acting as the sole distributor of Hartalega’s medical rubber gloves in Taiwan.
“In 2022, the top five (5) export destinations for Malaysian medical devices were the USA, Germany, Belgium, Singapore and China; with a total global exports value of
USD9.60 billion (RM31.10 billion). Taiwan is Malaysia’s 5th largest trading partner for three consecutive years since 2020; Malaysia’s 11th largest export destination; and the 3rd largest source of imports (after China & Singapore). With the global economy picking up after the pandemic, we foresee that trade relations between Malaysia and Taiwan will be further deepened; unlocking more business collaboration and subsequently, generate higher returns,” said Aninawati Saleh.
