A major health expo in Melbourne, to be attended by more than 400 Chinese pharmacy owners representing a $300 billion industry, is expected to have major ramifications for Australian pharmaceutical product manufacturers.
Each of the Chinese delegates owns around 200 pharmacies and each is visiting Australia to source locally made goods including vitamins, baby formula, alternate medicine, health drinks, lambs wool and allergy resistant bedding and allied products to market through China’s 240,000 pharmacy outlets.
Another 200 will attend to promote more than 2000 products including medical equipment, bandages, and complementary medicines including ingredients, herbs and raw materials for pain relief and insomnia.
The expo will be held at the Pullman Hotel in Albert Park from June 26 to 28.
The China Medical Pharmaceutical Material Association (CMPMA) is the only pharmaceutical retail chain association in China.
It has 3000 members representing 240,000 stores and controls 80% of China’s medicine sales.
The recent Free Trade Agreement between the two countries has resulted in a liberilisation of market access for Australian companies including pharmaceutical exports to China now being tariff free.
Additionally Chinese officials will attend the expo to assist companies file Chinese registration of products and to assist in cutting bureaucratic red tape.
Ken Smith, chairman of the Australia-China Business Council, says the visit by the Chinese pharmacy industry is the biggest and most influential to come to Australia.”
“This is an industry worth hundreds of billions of dollars in China and growing dramatically,” he says.
“It is a wonderful opportunity for Australian manufacturers to promote their products to China as well as local distributors to discuss managing the influx of Chinese complementary medicines products into Australia,” he says.
The Victorian government is sponsoring the welcoming dinner.
A limited number of exhibitor booths are available through Clifton@cliftongroup.com.au or 03 9654 3522.
The expo is being organised by the Complimentary Health Pharmacy Association Inc.