The Korean Ministry of Food and Drug Safety (MFDS) said on Monday it signed a memorandum of understanding (MOU) with the Saudi Food and Drug Authority (SFDA) to enhance cooperation in food and medical products.

The MFDS said it is the first time it signed an MOU with a country in the Middle East, although it held a cooperative meeting for medical devices with SFDA in 2020. 

During South Korean President Yoon Suk Yeol’s summit with Saudi Crown Prince Mohammed bin Salman on Sunday, the two food and drug regulators exchanged the MOU. 

Under the MOU, the two countries will exchange information regarding the regulatory system for food and medical products and scientific evaluation, promote joint research, education, and regular meetings, and hold joint seminars and workshops, the MFDS said.

The MOU seeks strategic cooperation in high-tech industries agreed upon by the two leaders through exchange and cooperation on regulations and administrative procedures in the fields of food and drug licensing and management, medical product supply, and innovative technologies such as AI and biotech.

The MFDS said that the signing of the MOU with SFDA will act as an opportunity for the two countries to expand their cooperation in new industries such as biotech, and to lay the foundation for close cooperation and joint response in the food and drug sector. 

The government said it was meaningful in that it secured a bridgehead for Korean companies to advance into the Middle East in the future.

The MFDS is cooperating with the U.S. FDA and Europe’s Directorate-General for Health and Food Safety and Directorate-General for Trade to achieve the national task of becoming “a global center of biotech and digital health," as announced by the government in July last year. 

With the signing of the MOU with Saudi Arabia, it plans to seek and develop multilateral cooperation with other organizations in the Middle East.