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As Chinese companies take leaps and bounds to expand their businesses abroad, one of the country’s most treasured cultural products, traditional Chinese medicine (TCM), is having a hard time hitching
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As Chinese companies take leaps and bounds to expand their businesses abroad, one of the country’s most treasured cultural products, traditional Chinese medicine (TCM), is having a hard time hitching a ride on the “going global” bandwagon.Recently, TCM products have all been shut out of the European market due to technicalities and new marketing requirements.
The ban from the EU market came after the seven-year transition period of the 2004 EU Traditional Herbal Medicinal Products Directive ended on April 30. All TCM producers failed to obtain medicinal licenses,due to high costs and difficulties in meeting the EU Directive’s criteria.
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