Use bilateral free trade agreements and other aspects to expand the international market for traditional Chinese medicine services trade

Use bilateral free trade agreements and other aspects to expand the international market for traditional Chinese medicine services trade

In recent years, with the improvement of global health awareness and the revival of traditional medicine, the demand for traditional Chinese medicine in the international market has increased significantly. Especially under the promotion of the "Belt and Road" initiative and bilateral free trade agreements, traditional Chinese medicine services trade has ushered in new development opportunities. This article combines hot topics and structured data from the past 10 days to explore how to use the bilateral free trade agreement to expand the international market for traditional Chinese medicine service trade.

1. Current status of global traditional Chinese medicine service trade

According to data from the World Health Organization (WHO), more than 100 countries around the world use traditional Chinese medicine, and more than 30 countries have established regulations on traditional Chinese medicine. The following are the attention data on traditional Chinese medicine in some countries and regions in the past 10 days:

2. Opportunities brought by bilateral free trade agreements

The Bilateral Free Trade Agreement (FTA) provides convenient conditions for tariff reduction, market access and intellectual property protection for traditional Chinese medicine services. The following are the developments of free trade agreements related to traditional Chinese medicine in the past 10 days:

3. Strategic suggestions for expanding the international market

1.Strengthen policy docking: Use the preferential terms in the free trade agreement to promote traditional Chinese medicine products and services to enter the target market. For example, the tariff barriers for traditional Chinese medicine products in Southeast Asia are reduced through RCEP.

2.Improve the standardization level: The international community’s standardization requirements for traditional Chinese medicine are becoming increasingly strict. Recent hot topics show that the EU's import restrictions on traditional Chinese medicine are mainly due to standardization issues. Therefore, it is key to accelerate the formulation of international standards for traditional Chinese medicine.

3.Innovative service model: Combining digital medical and remote diagnosis and treatment technology, promote the "going out" of traditional Chinese medicine services. In the past 10 days, "Internet + Traditional Chinese Medicine" has become a hot topic, and some countries have begun to pilot online traditional Chinese medicine consultation.

4.Cultivate international brands: Strengthen the competitiveness of traditional Chinese medicine brands in the international market through the intellectual property protection clauses in the free trade agreement. For example, the upgraded version of China-Singapore FTA provides convenience for the registration of traditional Chinese medicine brands in New Zealand.

4. Future prospects

With the diversification of global health needs and the deepening of free trade agreements, the international market potential of traditional Chinese medicine services trade is huge. In the future, through multiple wheel drives of policies, standards, technology and brands, traditional Chinese medicine is expected to become a new growth point in service trade. The following are the potential market forecasts for traditional Chinese medicine service trade in the past 10 days:

To sum up, the international expansion of traditional Chinese medicine service trade requires grasping policy dividends such as free trade agreements, and at the same time paying attention to standardization and technological innovation to achieve sustainable development.