The Global Fund to Fight AIDS, Tuberculosis and Malaria said on Wednesday that it will deepen its partnership with Chinese pharmaceutical companies.
The Global Fund and the China Chamber of Commerce for Import and Export of Medicines and Health Products met in Shanghai to create an agreement on planning, purchasing and delivering drugs to treat the diseases.
"China is the world's leader in making active ingredients for drugs, and we need to work together," Global Fund Chief Procurement Officer Christopher Game said. "Our goal is to be able to offer long-term contracts and fair return on investment. We know we can do it."
The Global fund has sent more than $3.7 billion to more than 140 countries, with more than $2 billion used to procure drugs and other products. The Global Fund hopes to continue that work by creating partnerships with companies in China.
Chamber of Commerce for Import and Export of Medicines and Health Products Vice President Xu Ming said China's healthcare industry has experienced stunning growth and has the capacity and quality to expand its exports. Healthcare production in China grew from $23 billion in 2000 to $353 billion in 2013.
Global Fund said it plans to improve purchasing capability and contracts with manufacturers, plan and schedule a continuous supply and improve payment and delivery speed.