COMPLEMENTARY medicine (CM) exports from Australia almost tripled last year to more than $930 million, according to new official statistics released yesterday.
The sector is a "real Australian success story," according to Carl Gibson, CEO of Complementary Medicines Australia.
"This is a real testament to consumers' healthy demand for these products, and when you also add in the sales through the ever-popular daigou channel, it is no wonder Australia is becoming China's major trading partner by capitalising on the new policy of cross-border e-commerce," he said.
Gibson said many companies in the complementary medicines industry were successfully capitalising on their local heritage by using the "Australian Made" logo and representations as a key quality advantage when exporting.
"Australia is commonly recognised as the world leader in the category for safety and quality, because we are one of the few countries who manufacture products as medicines, not foods," Gibson said.
However he warned use of the Australian Made collateral was at risk due to recent changes and newly implemented ACCC guidelines that "put our industry at a distinct disadvantage" (PD 04 Dec 2018).
Gibson made a personal plea to Minister for Industry Innovation and Science, Karen Andrews, saying given the export milestone being approached by the industry there were now "one billion reasons to back Australian manufacturers and back Australian high skilled jobs".
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