The agreement was reached through a memorandum of understanding (MoU) inked between Sinovac and Indonesian vaccine producer PT Bio Farma (Persero) in Sanya City, Hainan, China, on Thursday, Foreign Affairs Minister Retno Marsudi stated.
"Sinovac and Bio Farma have signed an MoU on bulk vaccine capacity commitment in 2021 under which Sinovac will give priority to Bio Farma in the bulk supply of the vaccine after March 2021 until the end of 2021," Marsudi noted following a bilateral meeting with China on late Thursday.
The two companies have also signed a preliminary agreement on the purchase and supply of the COVID-19 vaccine in bulk.
Under the agreement, Sinovac has agreed to produce up to 40 million doses of the COVID-19 vaccine during the period from November 2020 to March 2021.
"This is a quite a long-term cooperation between Bio Farma and Sinovac," she stated.
The minister desisted from divulging further details on the selling price of the vaccine but said that both nations remain resolute in intensifying cooperation in vaccine production to ensure availability of the vaccine at an affordable price.
"At the meeting, Indonesia conveyed the importance of vaccine supply being adequate, timely, safe, and affordable," she stated.
Marsudi and State Enterprises Minister Erick Thohir paid a visit to China to follow up on bilateral cooperation in some areas.
Both ministers also met with representatives of the China National Pharmaceutical Group Sinopharm and vaccine manufacturer CanSino Biologics (CanSinoBIO).
The ministers will continue the trip to the United Arab Emirates for discussions on bilateral cooperation, especially pertaining to vaccines and the economy.
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