The Ontario Chamber of Commerce (OCC) just returned from their first trade mission to Hong Kong. The mission leader was the OCC’s very own President and CEO Len Crispino. Organized in partnership with the Hong Kong Trade Development Council (HKTDC), Consulate General of Canada in Hong Kong, and the Hong Kong-Canada Business Association (HKCBA), the mission focused on the life sciences and neutraceuticals sectors.

In total, nine Ontario companies were showcased ranging from a manufacturer of vitamin D supplements, a company specializing in needle free acupuncture and nanometer technology, to manufacturers of natural health supplements including natural and herbal varieties. The mission began with a briefing, networking reception and luncheon that seamlessly transformed into one-on-one business matching sessions. Later that day, the mission delegates had an opportunity to connect with interested parties on Mainland China though a virtual trade mission organized by the Canadian consulate general in Hong Kong. Mission delegates spoke directly with people in Beijing, Shanghai, Nanjing, Chongqing, and Shenzhen. The mission also included another networking luncheon at the China Club (the Old Bank of

China Building, a venue which has a history all its own).
From the OCC’s standpoint, we felt this is just the beginning of getting directly involved with bringing Ontario companies to global arenas. We are pleased to see Ontario businesses getting out there and seeking new export markets. Our funding program Export Market Access (EMA) also had a presence as some companies benefited from our funding to attend the mission. In case you are not aware, EMA is a 50/50 grant program assisting companies with their goals to export.

All in all, the mission was a success. The most important takeaways are that if you are going on a trade mission, no matter who is the organizing it, as a business you must do your own research, line up some meetings on your own, take advantage of every opportunity to network and showcase your company, its products and what makes them unique.

The  Ontario Chamber of Commerce (OCC), in partnership with the Consulate General of Canada in Hong Kong, Hong Kong-Canada Business Association (HKCBA), and the Hong Kong Trade Development Council (HKTDC) would like to invite Ontario companies to join the  Canadian Life Sciences & Nutraceuticals Trade Mission to Hong Kong & China August 10 – 18, 2010.
 

This mission is designed for participation by those Ontario companies which are involved in natural health products, life sciences, and nutraceuticals that are interested in expanding their business to China and Hong Kong. 
 

Co-organized by the Consulate General of Canada in Hong Kong, the Ontario Chamber of Commerce (OCC), the Hong Kong Trade Development Council (HKTDC), and the Hong Kong Economic and Trade Office (HKETO), this mission aims at assisting participants to find potential business and partnership opportunities, access to targeted business networks and first-hand market intelligence. 

Highlights of the programmes include: A special programme consisting of briefing session, roundtable discussion, pre-arranged one-on-one business meetings, and networking activities on August 11, 2010, and participation in the International Conference & Exhibition of the Modernization of Chinese Medicine & Health Products (ICMCM) starting on Aug 12, a networking dinner for Ontario companies on Aug 13, and an optional side trip to China (Aug 15-18).  
There is no registration fee required for joining this mission. 
Funding Opportunities:

Delegates can apply for an Export Market Access (EMA) grant offered by the OCC. EMA is designed to assist small to medium size organizations (SMEs) to access and expand their growth in new foreign markets. If your company has 5 or more employees and annual sales of $500,000 or more, you may qualify for a grant covering up to 50% of eligible costs incurred to develop export sales. To find out if your company qualifies, please visit: www.exportaccess.ca.  For further details, please contact Lesley Cole by email:(lesleycole@occ.on.ca) or by Tel: 416-482-5222 x 239.  EMA is an initiative of the Ontario Chamber of Commerce, with support and funding from the Government of Ontario and the Government of Canada.

For the full announcement, and to register for this mission, please contact Adrian Cheng of HKTDC Toronto Office at Tel. No: (416) 366-3594 or email: adrian.ch.cheng@hktdc.org.

The full announcement of the mission and registration form can be downloaded from the following website: 

http://202.64.102.92/hktdc/download.php?fid=_phpkx43Kx

Over 120 delegates from 61 Canadian life science companies arrived in Hong Kong yesterday to take part in the 4th annual Canadian Life Sciences Mission to Hong Kong. This year’s mission organizers included the Canadian Consulate General in Hong Kong, the Hong Kong Trade Development Council.

The five top reasons life science companies had for joining this year’s mission were:

1. To learn more about the opportunities in the Greater China marketplace for Canadian life science companies’ products and services. China is one of the top 5 pharmaceutical markets in the world. The current annual per capita consumption of western drugs is $14 versus $52-65 in most developed countries and $587 in Canada. This rapidly changing market for medical products is growing exponentially especially in key areas such as seniors because China’s population is aging faster than any other country in the world.  Healthcare and medical treatment is also relatively expensive, so high quality western products are highly valued as a preventative treatment strategy. Dietary supplements or “natural health products” as they are called in Canada are the fastest growing segment in OTC products in China, with the market expected to reach $18 billion by 2010.
    
2. To find business partners interested in licensing their technologies or distributing the Canadian companies’ products in Asia. What better place to find potential partners than by attending some of the world’s largest trade shows in Asia? The International Chinese Medicine Conference and Exhibition, the new Wine and Beverage Expo, the Hong Kong Food Expo and the Medical and Healthcare Fair will each attract thousands of exhibitors this week in Hong Kong. Many leading Canadian firms including Purity Life Health Products of Acton, Ontario are already enjoying excellent success in penetrating the Chinese and other Asian markets using the lessons learned and the connections made while participating in last year’s Canadian Life Sciences mission to Hong Kong.
    
3. To investigate international research opportunities, facilities and potential partners for future joint R&D projects. In April 2007, the Canadian and Chinese governments announced a new joint science and technology grant program. Several bilateral international meetings established priority research areas such as life sciences. Grants with specific criteria were opened to applications last September. Canada and China have each invested $350 million dollars into the program and the first $22 million in research grants, covering 9 projects, were announced in May. Complete details on this program are available atwww.istpcanada.ca.Canada’s new natural health product regulations combined with our reputation for excellent agricultural production methods and world-class research in the medical uses of herbs are making Canadian firms and institutions extremely attractive research partners and a key reason many leading life science groups are sponsors of this event.
    
4. To learn how to protect Canadian intellectual property by entering the Greater China market through Hong Kong. China’s research and development spending has grown at over 17% annually during the past 12 years. The Chinese biotech market, second only to the Americans’ in size, is also increasing 30% annually and is expected to reach $71 billion by 2010. It is one of six key industrial technologies targeted by the Chinese government to fuel growth in the Chinese economy. By the end of 2007 over 1160 R&D centers had also been established by multinational corporations in China. While China’s entry into the WTO and the enormous increase in R&D inside China has led to many positive changes in the Chinese government’s attitude towards protecting IP and encouraging innovation, Hong Kong continues to have distinct advantages for companies looking to mitigate risk. Its use of common law (similar to Canada) means that Hong Kong-based partner firms of Canadian companies have the right to have their court cases heard in Hong Kong and the decisions enforced inside mainland China. 
    
5. To locate low cost sources of low cost ingredients, semi- finished and finished goods that can be used to create new products for North America, new brands or specific products for Asia and licensed or co-branded products for both places. When China opened to international trade in the early 1980’s there were very few factories. Today many factories contain state of the art equipment, have world class GMP and QA certifications, and for the next few years, will also continue to have low cost labour costs. A series of new research studies identifying some of these opportunities have been posted at www.strategis.gc.ca/logistics.

If you are interested in attending next year’s Canadian Life Sciences trade mission, contact the Hong Kong Trade Development Council’s Office in Toronto or one of the other sponsoring organizations.