The government is working to make the country self-sufficient in producing medical devices and digital health products, with plans to tap Swiss firms in taking this policy direction.
Trade Secretary Alfredo Pascual said this during the launch of the Swiss innovation exhibit organized by the Embassy of Switzerland in the Philippines at the Grand Hyatt Hotel in Taguig City.
“Swiss pharmaceutical companies might be interested to know that we aim to make the Philippines self-sufficient in medical devices as well as digital health products and services,” Pascual said in his keynote speech.
The trade official mentioned, in particular, personal health wellness technology products and therapeutic systems addressing chronic diseases, telemedicine solutions and artificial intelligence-assisted diagnosis.
“Partnership with Swiss companies would be very much supportive of this effort,” he added.
According to Pascual, trade between the Philippines and Switzerland had reached 730 million euros in 2021, an increase of 10 percent from 663.8 million euros in 2020.
Pascual said the amount represented almost 90 percent of the Philippine’s total trade with the European Free Trade Association (EFTA).
Aside from pharmaceuticals, Swiss Ambassador to the Philippines Alain Gaschen also sees a lot of potential in the local clean technology and infrastructure sectors.
He said that the Philippines, in turn, could take advantage of the huge market for processed food and textile in EFTA countries.
“This is a huge potential, but like the Swiss, you have to deliver on time, package it properly, and then you have to have the quantities and qualities that are required,” Gaschen said. INQ