Le Lézard
Classified in: Business, Covid-19 virus
Subjects: TDS, TRD

CIIE: South Korean Firms Believe Import Expo Will Restore Strength of World Trade


SHANGHAI, July 2, 2020 /PRNewswire/ -- With many countries seeking ways to offset the economic slowdown caused by the COVID-19 outbreak and foster fresh trading momentum, the China International Import Expo will be a preferred platform to restore the world's trading strength and further open up China's procurement market, the leader of a South Korean business organization said.

The CIIE has made a great contribution to the promotion of China-South Korea trade through exhibitions and promotions of products as well as economic and trade forums, business-matching conferences and industry-specific seminars, said Kang Won Sig, Chairman of the Seoul-based Korea G-PASS Company Export Association.

The organization helps South Korean firms that are selected by the government procurement agency to effectively and strategically gain the chance for competitive exports to foreign countries.

Kang discovered that Chinese buyers showed great interest in the range of products offered by G-PASS companies in the past two expos.

Kang noted that the CIIE offered opportunities to compare its member companies' products with the goods in the same category manufactured by their global rivals for analysis of market trends.

"Many South Korean companies have not only built partnerships with Chinese businesses in the past two expos, but also entered into joint ventures via the CIIE to make forays into the local market. I believe the CIIE has proven to be an outstanding platform for the future of bilateral trade," he said, adding a number of its member companies have sealed export deals in the first two CIIEs held in Shanghai.

More than 90 percent of the planned exhibition area has been reserved by exhibitors from across the world for the third CIIE this year in Shanghai from Nov 5 to 10, as of early June, according to its organizer.

Due to the COVID-19 outbreak, a public health and epidemic prevention exhibition area will be introduced in this year's event, data from the Ministry of Commerce showed.

South Korea has been exporting products such as masks and testing kits that the world needs over the past three months.

Kang expects changes will lead to the growth of the country's export market and the global import market and activate a channel for the exchange of technologies necessary to overcome this crisis between countries in line with the founding purpose of the International Federation of Public Procurement Societies.

He also hopes that this year's CIIE will provide a vital opportunity to further open up the procurement market in China to enable a practical exchange of sustainable technologies.

Kang reiterated the Chinese market will keep growing, pointing to an easing in trade relations between China and the United States, the world's two biggest economies.

G-PASS will continue to deepen its partnership with the Beijing-based China Association for Promoting UN Procurement, he said.

The country will also further promote the expo's role as a major platform for international trade, investment promotion, cultural exchange and open cooperation.

Companies were attracted by China's big market space formed by new infrastructure, surging demand for high-tech industrial parts and services, technology upgrading of new energy vehicles and traditional manufacturers. 

South Korean companies such as Samsung Electronics Co Ltd and SK Innovation announced that they will continue to invest in Xi'an of Shaanxi Province and Changzhou in Jiangsu Province.

Buoyed by China's growing demand for medical gloves and related materials like nitrile butadiene latex, South Korea's LG Chem Ltd invested 330 million yuan on a new manufacturing facility in Ningbo, Zhejiang Province in mid-April to produce nitrile butadiene latex.

The project is expected to be operational by April 2021, with an annual output of 100,000 metric tons.

More information of CIIE is as follows: with two editions successfully held since 2018, China International Import Expo (CIIE) serves as the platform for international procurement, investment promotion, cultural exchange, as well as opening-up and cooperation. The third edition of CIIE will take place in Shanghai from November 5th to 10th. Thousands of companies, which are leading players in their industries, will gather at the expo to showcase their products and services, and seek business opportunities with global buyers.

At CIIE, participants can both purchase a wide range of products from the world and can also sell their products to the world. CIIE helps drive investment both inward and outward and contributes to maintaining a stable global supply chain.

Starting from June 24, professional visitors around the world can log into the CIIE website (www.ciie.org) and locate Business Exhibition - Buyer - Registration to sign up for the event. CIIE welcomes global buyers to join the upcoming event and to share opportunities presented by China's further opening up.

Logo - https://mma.prnewswire.com/media/1077995/CIIE_Logo.jpg

Contact:
Ms. Nie Qingxin
Tel.: +86-21-59760717, +86-21-59761076 
Email: [email protected]
Website: http://www.ciie.org/zbh/en/
Facebook: https://www.facebook.com/ciieonline
Twitter: https://twitter.com/ciieonline
YouTube: https://youtu.be/7rfDOSdbAd0


These press releases may also interest you

21 jun 2024
Kahn Swick & Foti, LLC ("KSF") and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until August 5, 2024 to file lead plaintiff applications in a securities class action lawsuit against The...

21 jun 2024
The Prime Minister, Justin Trudeau, today issued the following statement on the passing of James K. Irving: "It is with sadness that I learned today of the passing of James K. Irving, a successful Canadian business leader and entrepreneur. "A proud...

21 jun 2024
TSX VENTURE COMPANIES NEX COMPANY BULLETIN V2024-1898 CHINA KELI ELECTRIC COMPANY LTD. ("ZKL.H")BULLETIN TYPE:  Reinstated for TradingBULLETIN DATE:  June 21, 2024NEX Company Further to the TSX Venture Exchange Bulletin dated January 9, 2023, the...

21 jun 2024
B2Gold Corp. ("B2Gold" or the "Company") is pleased to announce the voting results from its Annual General and Special Meeting of Shareholders (the "Meeting") held on Thursday, June 20, 2024. A total of 845,972,994 common shares were voted at the...

21 jun 2024
Global X Investments Canada Inc. ("Global X") is pleased to announce the distribution amounts per security (the "Distributions") for its exchange traded funds (the "ETFs"), for the period ending June 30, 2024, as indicated in the tables below. The...

21 jun 2024
The Minister of Diversity, Inclusion and Persons with Disabilities, the Honorable Kamal Khera, and the Minister for Women and Gender Equality and Youth, the Honorable Marci Ien, will be in Mississauga to announce investments in mental health support...



News published on and distributed by: