Source: BusinessNZ
Swift action to remove a regulatory roadblock in the way of medical innovation, global events and tourism has been applauded by BusinessNZ.
A ‘nonsensical’ ruling by Medsafe effectively prevents major international medical conferences from being held in New Zealand because displaying new products or sharing the latest research with medics in trade shows is deemed to be “advertising” and therefore prohibited – but now the Government intends to fix the regulations concerned to allow these major global conferences to come here.
The announced changes means more global organisations can consider New Zealand as a conference destination, and our tourism sector will benefit from the flow on effect of post-conference travel.
BusinessNZ Chief Executive Katherine Rich says it’s a good example of the Government taking action to remove regulatory barriers to economic growth.
“New Zealand has been locked out of the multi-billion-dollar global medical conference market because Medsafe’s stance prohibits the trade shows and expos that are usually a valuable part of global medical conferences.
“But the economics of running a large international conference often depend on there being a major expo or trade show associated with the event, where companies can share information about their latest products and medical research.
“Medsafe’s ruling makes it uneconomic for large medical conferences to be held here, meaning multi-million-dollar lost opportunities for New Zealand and our medics have to travel to conferences outside of New Zealand to hear about the latest drugs, devices and procedures.
“Over the years many professional associations and medical organisations with annual conferences on a global circuit have wanted to come to New Zealand, but have had to rule out coming here because of the financial hit of not being able to hold a world-class trade show to support their event.
“New Zealand’s unique stance is nonsensical. Sharing information and new research with medical experts in a closed setting is in no way unsafe. We know of no other country that has taken the same stance, but we do know this is why New Zealand conference centres and our local economy regularly lose out to Australia when global conference circuits rotate to the Southern Hemisphere.
“It’s excellent news that the Government plans to fix the regulations to make clear that global medical conferences are welcome in New Zealand.
“New Zealand stands to gain an estimated $90 million in revenue over the next few years with the dismantling of this roadblock to economic growth.”
The BusinessNZ Network including BusinessNZ, EMA, Business Central, Business Canterbury and Business South, represents and provides services to thousands of businesses, small and large, throughout New Zealand.
