Chile, Colombia, Peru, and Mexico to unify rules and regulations for management of medical devices trade
An article has reported that the four countries of the Pacific Alliance, Chile, Colombia, Peru, and Mexico, have stepped forward to enact unified rules and regulations, so that same quality and characteristics of devices and other products can be standardized to facilitate trade. The category of goods includes food supplements, pharmaceuticals, and medical devices. Three working groups have been formed for the maintenance of quality. According to ProMexico, Mexico generated revenue worth MXN 8,249 million in 2014 by exporting medical devices. At present, Colombia, Mexico, and Peru have different rules and regulations for medical devices, while Chile does not have any regulations for such products. All four members of the alliance want to set only a regulatory framework applicable for all four countries. For the Mexican Business Council for Foreign Trade, reducing import tariffs, which will be among the four economies of the Pacific Alliance, will remain incomplete, if changes to non-tariff barriers are not made, i.e. the regulations.