AdvaMed Welcomes APEC Recommendations for Enterprise Integrity and Public Procurement

Lima, Peru - AdvaMed, the Medtech Association, issued the following press release following conclusion of the 2024 Asia-Pacific Economic Cooperation (APEC) Business Ethics for Small- and Medium-Sized Enterprises (SMEs) Forum in Lima, Peru.

"AdvaMed commends APEC's continued focus on the importance of high-standard business ethics for the medical technology sector, incentivizing ethical business conduct in the public procurement process and continuing advancement of global harmonization of medtech industry codes of ethics,"said Christopher L. White, AdvaMed General Counsel & Chief Policy Officer."We are delighted that this year's forum included discussions surrounding government implementation of procurement incentives for enterprises that demonstrate ethical business conduct."

The 2024 APEC Ethics Forum brought together hundreds of leading health care stakeholders, including the U.S. Department of Commerce and other APEC member economies, medtech associations and their member companies, patient and physician organizations, and others in health-related sectors to align on pivotal strategies for advancing business ethics.

"By focusing on collaborative solutions through collective action, these meetings aim to create a level playing field and advance high standard business ethics critical to patient safety and building trust with the patients we serve," added AdvaMed's VP, Assistant General Counsel, Ethics & Compliance Ida Nassar.

"As we move beyond the APEC meetings, government recognition of the value of codes of ethics and rewarding industry adherence to these codes through incentives in public procurement ensures integrity and innovation remain intertwined," Nassar noted."We were very pleased to see the 2024 APEC SME Ministerial Statement, which commits to furthering government-to-business interaction by incentivizing ethical business conduct."

AdvaMed is encouraged by the APEC Recommendations for Enterprise Integrity in Public Procurement and updates to the UNODC/OECD Resource Guide on State Measures for Strengthening Business Integrity, which include recommendations and guidance for companies and governments, including government implementation of procurement incentives for enterprises that demonstrate ethical business conduct.

Since 2010, AdvaMed has been honored to help advance the APEC Business Ethics for SMEs Initiative, extending high-standard codes to 31 medical technology associations across 19 economies in the APEC region. These associations collectively represent over 12,000 member enterprises, of which over 10,000 are identified as SMEs. The initiative is also supported by a capacity building platform with an expert team of over 60 members, led by AdvaMed, and advanced in partnership with our many partners, including the U.S. Department of Commerce.