The China FTA a tonic for Australia's healthcare operators

 17-Jul-15, Business Spectator 

Last month’s signing of the China-Australia free trade agreement has opened Chinese doors to Australian health and care providers, giving them unprecedented access to one of the world’s largest markets. However, taking advantage of the opportunities requires careful planning.

Image: ABC

The opportunities presented by the FTA are wide-ranging and impact health sector participants in different ways.

The FTA gives Australian healthcare businesses a competitive advantage in China. However, the Chinese market is incredibly different from the Australian landscape. Businesses entering the market need to be aware that the regulatory landscape can change rapidly.

There are potentially enormous benefits in partnering with a local Chinese company that is a good fit. A partnership has the potential to circumvent unforeseen obstacles. It is also imperative that Australian businesses seek local advice regarding their investment structure. Tax is another significant consideration. 

Protecting intellectual property is also important. Brand strategy should be well thought out and local brand protection advice should be sought, including in relation to filing trade mark registrations in English and Chinese.

China is currently negotiating FTAs with a number other countries and the concessions under the China-Australia FTA will likely very soon become the norm. It is important that Australian businesses move quickly to take advantage of the opportunity.

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