Medicinal cannabis companies, facing difficult trading in a small market in New Zealand, are turning to high-end European markets to buy their product - and many of them availed themselves of a trip facilitated by New Zealand Trade and Enterprise (NZTE) last month to meet potential trade partners on the continent.
The companies that attended a number of conferences, networking events and industry meetings to connect local businesses included Tauranga-based Bluelab, Marlborough business Puro, NZX-listed Rua Bioscience and Waikato-based Ora Pharm.
NZTE said the trip gave Aotearoa business owners a chance to attend European Cannabis Week after identifying major growth opportunities for local businesses in Europe. New Zealand's Trade Commissioner to Germany Simon Hearsey said in a statement that the global sector was "in an exciting growth stage" that local companies had the chance to get behind.
"The feedback we received from the group was positive and they each left with a deeper understanding of the market, and several positive leads that they'll explore further," Hearsey said. That sentiment was confirmed by Ora Pharm founder and chief executive Zoe Reece, who told The Post that Europe was "always the goal" for the company as it just reached cashflow-positive status.
Read more at The Post
