In its pre-Budget submission, Complementary Medicines Australia has highlighted the way it says Australian complementary medicines industry epitomises the goals of the National Innovation and Science Agenda and the Federal Government’s drive to support smart ideas, create business growth, local jobs and global success.
“The Australian complementary medicines industry contributes to high-skill jobs, innovation rich local manufacturing, higher degrees and high level research, and the growth of quality Australian exports,” says Carl Gibson, chief executive officer of CMA.
“Australian complementary medicine exports are booming. Consumers worldwide are increasingly using complementary medicines as part of a proactive approach to their health, and we have seen a growing demand for Australian products, driven by the industry’s reputation for products that meet the highest standards of quality and safety.
“Exports to the Asian region have more than doubled and South Korea has overtaken New Zealand as our top export market,” he says.
“Our industry has an upward trajectory, demonstrating the ability to significantly increase employment opportunities and development of a range of technical and vocational skills through research and the utilisation of complex technologies.”
Gibson says the industry holds great potential to grow exponentially and to contribute further to the strength of high-skill local manufacturing and exports.
“The CMA pre-Budget submission outlines three recommendations that would allow the Australian complementary medicines industry to leverage its accumulated knowledge, capabilities and strong international branding for excellence and help lead the way in the ideas boom.
“These recommendations include actions that will facilitate business growth via an appropriate regulatory environment, encourage innovation and investment in the complementary medicines sector, and improve Australia’s health through a smarter approach to preventive health.”