Consolidating the position of India’s biotechnology industry on the world map, Federation of Asian Biotech Associations (FABA) announced the participation of Italy, United Arab Emirates and Canada as partners to explore business opportunities, cooperate and collaborate in the field of biotechnology.
While UAE confirmed to enroll Dubai Biotechnology and Research Park (DuBiotech) as the '18th country member' of FABA and initiate a UAE chapter of FABA, an MoU was signed between FABA and Bioindustry Park Canavese, near Torino, Italy to encourage and promote co-operation in the fields of clustering, support to internationalization of companies, incubation and technology development and services to new emerging biotechnology companies. FABA is also in talks with Canada to involve them as a membercountry and increase opportunities for business cooperation.
“In fine, all the countries will have a greater opportunity to expand business, share technology and get support for their ventures. This will not only help in development of new business initiatives, but we will also see an increase in the number of foreign companies coming to India to set up their base here. Within the next year, I believe we will see a lot more joint ventures and tie-ups between Indian and these foreign companies,” said Dr. BS Bajaj, secretary general, FABA.
The countries will also be participating in BioAsia 2010.“Taking our relationship forward, we look forward to actively support and participate in the forthcoming BioAsia 2010 at Hyderabad, India. We shall closely review the potential opportunities at the above event,” said Marco Baccanti, executive director, DuBiotech. “The Asian biotechnology cluster is esteemed very high and is an integral part of our business strategy to target the above. In this context it would be very appealing for us to network with potential companies in India who are seeking international expansion plans,” he added.
Source: India PRwire
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