Aether Pacific Pharmaceuticals Ltd (APP), a New Zealand-based company that specializes in medicinal research and nutraceutical wellbeing, has announced a strategic partnership with the Fijian government to advance the development of Fiji’s medicinal cannabis sector. The partnership involves a three-year Memorandum of Understanding (MOU) that sets out a framework for cooperation and collaboration between APP and the Fijian Ministry of Trade.
The partnership between APP and the Fijian government is expected to bring mutual benefits for both parties. For APP, the partnership will enable the company to expand its global addressable market and access a cost-effective environment with regulatory support. APP will also have the exclusive right to export Fijian medicinal cannabis to meet the growing demand worldwide.
For the Fijian government, the partnership will support the economic recovery and growth of the country, which has been hit hard by the Covid-19 pandemic and the cyclones. The partnership will also create jobs and opportunities for the local farmers and communities, and generate revenue and taxes for the government.
A multi-faceted collaboration
The partnership between APP and the Fijian government will involve a multi-faceted collaboration on various aspects of the medicinal cannabis sector, such as:
- Establishing a high-quality cannabis cultivation facility in Fiji, using APP’s expertise and experience in New Zealand, where it was one of the first companies to obtain full licensing permits for its cannabis cultivation facility in Christchurch in 2020.
- Developing and implementing a regulatory framework and a quality assurance system for the medicinal cannabis industry in Fiji, ensuring compliance with the international standards and best practices.
- Conducting research and development on the medicinal properties and benefits of cannabis, and developing new products and formulations for various medical conditions and wellness purposes.
- Providing training and education for the local farmers and workers on the cultivation, harvesting, processing, and packaging of cannabis, and ensuring fair and ethical trade practices.
A broader vision for plant-based medicines
In addition to the medicinal cannabis sector, the partnership between APP and the Fijian government will also encompass a broader vision for plant-based medicines, which aligns with APP’s objective to build out its suite of traditional medicinal remedies and deliver high-quality botanical products to global markets.
The partnership will involve establishing a strategic nutraceutical hub in Fiji, which will include an advanced extraction and manufacturing facility for plant-based pharmaceutical medicines. The facility will be supported by significant investment from APP, and will have the capacity to serve multiple markets across the Asia-Pacific region.
The facility will also enable the commercialization of novel botanical compounds of APP’s subsidiary company, Hardie Health, which has been conducting research and product development on various plants, such as kava, turmeric, ginger, and moringa. The facility will also provide a toll processing service to kava suppliers, to facilitate value-added products for export.
A milestone for APP and Fiji
The partnership between APP and the Fijian government is a milestone for both parties, and reflects their shared vision for a prosperous, secure, and sustainable future. The partnership is also supported by a US$30 million investment commitment from GEM Global Yield LLC, which provides APP with financial flexibility to drive its growth in international markets.
Mr. Aldo Miccio, CEO of Aether Pacific Pharmaceuticals Ltd, commented on the significance of the partnership: “We are delighted to collaborate with the Fijian government and the Ministry of Trade to support the establishment of Fiji as a leading hub for medicinal cannabis and plant-based medicines. Our investment demonstrates our commitment to driving innovation, economic development, and sustainable practices in the Pacific region.”
The Honorable Faiyaz Koya, Minister for Trade, Commerce, Tourism and Transport of Fiji, welcomed the partnership and thanked APP for its confidence and trust in Fiji. He said: “We are pleased to partner with APP, a reputable and experienced company in the medicinal cannabis and nutraceutical sector. We believe that this partnership will bring many benefits for our country, our people, and our environment. We look forward to working together to realize our full potential in this emerging and exciting industry.”
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