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New International Bioeconomy Forum Strengthens Engagement Between U.S. and India on Promoting and Protecting the Bioeconomy
- by Team ABLE - 28 Dec, 2024
ABLE and the U.S. National Academies’ International Bioeconomy Roundtable held an in-person event at the Global Bio-India 2024 conference in New Delhi, India, to discuss the scope of a new National Academies initiative, the International Bioeconomy Forum.
Biotechnology and biomanufacturing are increasingly seen as key sectors for economic growth in several countries around the world. In 2020, the National Academies highlighted the importance of working with international partners to advance bioeconomy-related R&D and address risks to national bio-based economic efforts. In 2022, the U.S government reinforced this position in policy.
This new forum, set to launch in early 2025, will serve as an ongoing, neutral platform for experts in academia, industry, government, and NGOs to explore opportunities and challenges in the global bioeconomy, focusing on complex and interconnecting issues in promoting and protecting bioeconomies. The forum will discuss the benefits of emerging biotechnologies, potential security risks, and national policies, international standards, and best practices in the biotechnology and biomanufacturing sectors to support the global bioeconomy.
"The forum comes at a momentous time with India’s new BioE3 policy, which is aimed at fostering biotechnology and biomanufacturing and emphasizes the urgent need to harmonize the terminologies and sectors within the bioeconomy to fully measure its global impact,” said Narayanan Suresh of ABLE during the event. “Additionally, the G20 Secretariat, under Brazil’s 2024 presidency, is leading efforts to globally harmonize bioeconomy definitions."
Carmen Shaw, director of the future International Bioeconomy Forum, emphasized the importance of the new global platform for building joint efforts between the U.S., India, and members of the international bioeconomy community. During her remarks, Shaw recognized India as a key global bioeconomy leader and mentioned that the forum aims to foster international dialogue on bioeconomy governance, safety, and security.
"The International Bioeconomy Forum represents a historic milestone as one of the first global platforms from the U.S. Academies on this topic,” Shaw said. “It is only fitting that this forum begins bilaterally with India, a key driver in advancing the future of biotechnology and biomanufacturing.”
Carmen Shaw, far left foreground, addressing event attendees about the U.S.-India Bioeconomy Efforts on Friday, September 13 at Global Bio-India 2024 in New Delhi, India.
Carmen Shaw, far left foreground, addressing event attendees about the U.S.-India Bioeconomy Efforts on Friday, September 13 at Global Bio-India 2024 in New Delhi, India.
The event based its discussion in New Delhi on a previous National Academies workshop held in August 2024, which explored R&D, innovation, investment, and policy landscapes for biotechnology and biomanufacturing in the United States and India. During that workshop, experts from India, the United States, and other countries gathered ideas, topics, and common themes for the new forum and emphasized the importance of collaboration, technology transfer, policy harmonization, and infrastructure development.
This U.S.-India biotechnology collaboration will prioritize several areas, including fostering innovation through public and private sector funding, establishing harmonized policies and international standards for biotechnology, and addressing data sharing and privacy issues.
However, advancing the international bioeconomy is not without challenges. Regulatory complexities in both countries, high costs of bio-goods, dependence on international suppliers, and the need for skilled labor and robust biomanufacturing infrastructure in these countries pose significant hurdles. Safety and security are also critical, as accidents, irresponsible actions, and malicious exploitation of international collaboration and commerce can undermine an otherwise healthy bioeconomy.
Source: www.nationalacademies.org
The International Bioeconomy Forum is a collaboration between the Board on Life Sciences and Policy and Global Affairs Division’s International Networks & Cooperation Theme.