Australia to host Chinese pharma trade event
China Medical Pharmaceutical Material Association is to hold an event in Melbourne this June to establish trade deals and partnerships with Australian healthcare manufacturers. The association is looking to driving up sales of over-the-counter medications and healthcare products in China and for Australian companies to purchase health products and equipment from China. Australia was chosen to host the event on the back of the China Free Trade Agreement, in effect since December 2015, which will see tariffs on Australia's heath products eventually reduced to zero by 2019. China's health industry is said to be worth AUD1,638.5bn.

 

More than 600 Chinese pharmacy store owners and government officials are set to descend on Melbourne with one goal – to strike as many deals as they can.

The delegation has invited Australian vitamin makers and other health product manufacturers to do business with them at the Pullman Hotel, overlooking Albert Park.

Hundreds of Chinese pharmacy owners will come to Australia to secure trade deals. Credit: Bloomberg

Ma Shoujun, chairman of the China Medical Pharmaceutical Material Association, said the event, scheduled for late June, will last for three days, at the end of which contracts would be signed.

"This is not like the way Chinese delegations are traditionally done – come here, have a look, talk and then nothing happens," Mr Ma said.