To Explore Chinese Complementary Medicine Opportunities
Brisbane, May 6, 2020 AEST (ABN Newswire) - Fiji Kava Ltd (
ASX:FIJ), Australian-Fijian medicinal kava health and wellness company which produces natural 'noble kava' products, today announced the signing of a Memorandum of Understanding (MOU) with PMM Company Limited to explore future opportunities to supply Fiji Kava's noble kava extract and products to the Chinese complementary medicine, personal care and pharmaceutical industries.
- Fiji Kava has signed a Memorandum of Understanding (MOU) to explore partnership and authorised distribution opportunities in China, including
- Supply of Fiji Kava's noble kava extract and products to the complementary medicine, personal care and pharmaceutical industries
- Proven record in growing international food ingredient, sports nutrition & infant nutritional products in China, including securing regulatory approvals
- China is a key market in growing the availability of Fiji Kava's products, with the MOU an important first step to establishing a footprint in one of the world's largest vitamin and supplements markets.
The MOU reflects a key development for Fiji Kava as it seeks to establish distribution of Fiji Kava's products in China, the world's second largest vitamin and supplements market currently valued at RMB 148bn (AUD $31bn) and take advantage Fiji's participation in China's Belt & Road initiative Fiji Kava Chairman, Dr. Andrew Kelly said: "As we continue to focus on growing the availability of our 'noble kava' we cannot ignore that China's AUD $31bn vitamin and supplements market represents a considerable opportunity for Fiji Kava. We are delighted to explore opportunities with Chi Li who has such a tremendous track record of success in building international products and ingredients to China." Dr. Kelly said.
Fiji Kava believes the proposed partnership would be a real milestone for Fiji Kava. Chi Li has comprehensive experience in sales and business development in international food ingredient, sports nutrition & infant nutritional products in China. As well as consulting for global nutritional business, Beingmate Group since 2009, Chi Li acquired the Bright Beginning brand from Perrigo and grew it to one of the leading American Infant Formula products in China. He was also an exclusive partner and CEO for Bubs Australia's joint venture with Beingmate until Nov 2019.
The MOU establishes an initial 12-week period to establish the foundations for entering China and to assess distribution opportunities via their existing networks. A decision on any future commercial arrangements will be made at the conclusion of the trial period.
About Fiji Kava Limited
Fiji Kava Limited (ASX: FIJ) is an Australian-Fijian medicinal kava health & wellness company, producing natural 'noble kava' products for the complementary and alternative medicine market, estimated to exceed USD $210 billion by 2026 globally. As the first foreign company with approval from the Fijian Government to operate in the kava industry, FijiKava has established a global leading sustainable and 100% traceable, certified organic supply chain of 'noble kava' including a nucleus farm in Levuka, on the island of Ovalau, Fiji.
FijiKava is focused on expanding the availability of noble kava products throughout western markets to provide a natural alternative to prescription medicines to promote sleep, soothe and calm the nerves, support muscle relaxation and relax the mind.
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