Münster, Germany-headquartered consultancy Diapharm GmbH Co. & KG this week signed a cooperation agreement with Guangdong-Macau Traditional Chinese Medicine Technology Industrial Park Development Co., Ltd. (GMTCM Park) at the 2019 Traditional Medicine International Cooperation Forum in Macao, China.
The event was co-hosted by the Government of the Macao Special Administrative Region, the State Administration of Traditional Chinese Medicine of the People‘s Republic of China, and GMTCM Park.
The aim of the new cooperation is to facilitate EU product registrations of Traditional Chinese Medicines (TCM). Both GMTCM Park and Diapharm will jointly support Chinese companies in bringing TCM onto the market in Europe.
The 2019 Traditional Medicine International Cooperation Forum from 25 to 26, September 2019 was held in Macao for the fifth time.
Discussions ranged from policy support, development opportunities, technology research and development, to market expansion, investment and financing and the promotion of of biological medicines – TCM in particular.
During a speech at this week’s event, Diapharm managing partner Ralf Sibbing Sibbing highlighted the increasing acceptance of products with herbal substances in EU: “The healthy-living trend and a growing awareness of natural ingredients has led to a growth in food supplements and herbal medicinal products.” T
Under the Chinese Medicine Development Strategy Plan (2016-2030) the development of Traditional Chinese Medicines has been upraded to a national strategy. The GMTCM Park serves as a window for the internationalisation of TCM. The goal of the deepening co-operation is to create a pathway for Traditional Chinese Medicines to enter the European market, bringing health benefits to European consumers.