Med tech industry applauds planned US-EU trade negotiations

21 June 2013

The medical technology industry associations AdvaMed, COCIR, MITA and MedTech Europe have applauded the announcement at the G8 Summit for the benefits that the negotiations could bring to the medtech sector on both sides of the Atlantic.

US and EU leaders announced that talks on the Transatlantic Trade and Investment Partnership (TTIP) will start in July. The associations say that they have been working for several months to urge US and EU authorities to work toward the inclusion of single audits of medical device quality systems, a common set of harmonized standards for marketing application and compliance documentation, a unique device identification program, elimination of tariffs and improvements in trade and customs facilitation in the final agreement.

“The industry applauds efforts to begin the TTIP talks. TTIP will not only promote economic growth in the US and EU, but it also will help to improve patient outcomes worldwide by improving patient access to the latest innovative technologies,” said Stephen J. Ubl, President and CEO of AdvaMed

“We enthusiastically support this opportunity, and look forward to concrete developments in the coming months that will further enhance our transatlantic economic relationship, which already accounts for nearly one trillion dollars in trade and supports millions of jobs to which David Cameron noted today that TTIP has the potential to create an additional two million new jobs,” Serge Bernasconi, Chief Executive Officer of MedTech Europe.

“We are hopeful that this deal will not only to expand trade and investment between the US and EU, but also improve the global regulatory environment for manufacturers to ensure they remain at the forefront of technological innovation,” noted Gail Rodriguez, Executive Director of MITA.

“The transatlantic medical device community welcomes today’s announcement, and will continue to work with regulators and trade negotiators on both sides of the Atlantic to promote increased safety, quality and access to life-saving medical technologies,” said Nicole Denjoy, Secretary General of COCIR.