M’sia can be major exporter of traditional herbal products: Liow

PUTRAJAYA: Malaysia has the potential to be a major exporter of traditional herbal products following the recognition by Organisation for Economic Cooperation and Development (OECD) countries of Malaysian-based research laboratories said Health Minister Datuk Liow Tiong Lai.

“This is our strength. Malaysia’s Good Manufacturing Practice labs are now recognised by OECD countries. This means it is easier to export pharmaceutical products overseas,” Liow told reporters after launching the second Global Bio-Herbs Economic Forum here yesterday.

Liow said the international recognition for Malaysian labs was achieved this year.

He said more research was needed to explore and tap the potentials of traditional medicine.

“We have many herbs in the thick rainforests. We can do a lot of research to explore the potential of traditional medicine,” he said.

Liow said there is a strong demand for instant traditional medicine.

“As most traditional medicine needs preparation such as boiling before it can be consumed, people are looking at instant medicine mixture that can be consume right away.

“Although many people use traditional medicine in Malaysia, it is not fully exploited especially in research and development,” he said.

However, he said, there were some success stories, like the Insitute for Medical Research’s work on local-based herbal medicine.

He said the global market for herbal medicine grew at a high pace.

“According to World Bank, the global market for herbal medicine was US$19.6 billion (US$1=RM3.56) in 1996, US$24.2 billion in 2002 and has been projected to reach US$5 trillion by 2050.

“The Malaysian herbal industry was worth approximately RM8 billion in 2007 and is expected to grow at a rate of 10 per cent per annum,” he said.

Liow said the World Health Organisation has called on member countries to incorporate traditional medicine in the health mainstream.

Meanwhile, founder/chairman of the Global Bio-Herbs Economic Forum Council, Datuk Yeat Sew Chuong, said Malaysia’s bio-herbs industry was ready to claim a stake in the lucrative herbal industry.

He said, however, the small and medium enterprise (SMEs) needed to put in more efforts to broaden their market share.

“Currently, the local SMEs are mostly involved in low value-added activties such as processing dried plant materials for herbal powders and fermentation for medicinal tonics.

“In order for them to broaden their market, they need to move up the value chain by upgrading production to higher level technology,” Yeat said.

The second Global Bio-Herbs Economic Forum is held at the Putrajaya International Convention Centre from Nov 14-17.

Over 3,000 participants from various countries, including China, Indonesia, Singapore, Thailand, Philippines, Hong Kong, Vietnam, South Africa and the US are attending the forum.

— Bernama