On 2nd March 2023, Sarbananda Sonowal, Union Minister of Ayush and Ports, Shipping & Waterways, inaugurated the first of its kind business to business (B2B) Conference and Expo on Traditional Medicine under the Shanghai Cooperation Organization (SCO) in Guwahati, Assam.
- The 2-day conference(2nd-3rd March 2023) and 4-day Expo (2nd to 5th March 2023) were attended by more than 150 delegates from 17 countries.
The first SCO B2B conference and expo on traditional medicine created a platform for buyers and sellers from various countries to explore the trade potential to serve the needs of people across the globe.
Key People:
Dr Mahendrabhai Munjpara, Minister of State for Ayush and Women & Child Development; Dr Thet Khaing Win, Minister of Health, Government of Myanmar and Safiyya Mohamed Saeed, Deputy Minister of Health, Govt of Maldives were present during the inaugural session of the conference.
About the B2B conference & Expo:
i.The Conference and Expo provided an opportunity for regulators, industries and business leaders in all the SCO and partner countries to deliberate on various aspects of Traditional Medicine, such as products, services, education, skill development, cosmetics and Policies.
ii.This also strengthens the trade and friendship among each other in traditional medicine and allied field.
iii.75 foreign officials and business delegates from 13 countries participated in person. Official delegates from China, Uzbekistan, Kyrgyzstan and Kazakhstan joined the event virtually.
iv.The event witnessed the presentations and deliberations from SCO and partner countries on ‘Regulatory Framework for Traditional Medicine’ products and practices.
Key Points:
i.Under the aegis of the Ministry of AYUSH, Invest India conducted B2B meetings in dedicated B2B lounge at the event with the support of Ayushexcil (Ayush Export Promotion Council).
ii.More than 56 exhibitors at the expo and buyers from 19 countries discussed and expressed their interest in trade in traditional medicine.
iii.More than 50 one-to-one meetings between buyers and sellers were conducted on day 1 of the conference.
iv.Among the wide range of traditional medicinal products, product categories like Ayurvedic medicines, herbal nutraceuticals, Ayurvedic cosmetics etc. received maximum interest.
v.Participants from India, Tajikistan, Armenia, Uzbekistan, Mongolia, Kazakhstan, Bahrain & Sri Lanka engaged in more than 75 meetings.
Highlights:
i.The event generated an incremental trade interest of more than Rs 590 crores. This marks the immediate success of the expo, meanwhile, the conference laid the foundation for further interaction and expansion of cooperation among the states under SCO.
ii.The trade interest of Rs 590 crores was received in the B2B meetings from companies like Damaira Pharma, AIMIL Global, Herbal Strategi Homecare, Almaty, Dindayal Industries, Fidalgo Healthcare and many more.
iii.The trade interest was received across product categories like Ayurvedic gels & oils, capsules, Ayurvedic hair remedy products, nutraceuticals, Ayurvedic home care and Hygiene & Veterinary products.
iv.The industry also received around 9 letters of intent(LoI).
Additional info:
India assumed the Presidency of the SCO Council of Heads of State for the year 2023 on 17th September 2022 at Samarkand in Uzbekistan.
The online Conference of Experts and Practitioners of Traditional Medicine in SCO Member States took place on 3 February 2023. The Ministry of Health and Family Welfare organised the event, where experts from 25 countries of SCO participated.
About Shanghai Cooperation Organization (SCO):
SCO or Shanghai Pact is a Eurasian political, economic, and security alliance of eight member multilateral organisations.
Established on 15th June 2001 in Shanghai, China.
Members– 8 member states 3 observers and 14 dialogue partner countries.
Note: India was granted observer status in 2005 and the status of full member in 2017.
Recent Related News:
The 6th Shanghai Cooperation Organisation Supreme Audit Institutes (SCO SAI) Leaders’ meeting was held in Lucknow, Uttar Pradesh (UP) from February 6 to 8, 2023. Discussions were held at the SCO SAI Leaders’ meeting led by Girish Chandra Murmu, Comptroller and Auditor General of India (CAG) India, under the theme of “Integrating Emerging Technologies in Audit” with a focus on Artificial Intelligence and Cyber-security.
