Country for PR: United Kingdom
Contributor: PR Newswire Europe
Thursday, July 02 2020 - 18:00
AsiaNet
CIIE: South Korean Firms Believe Import Expo Will Restore Strength of World Trade
SHANGHAI, July 2, 2020 /PRNewswire-AsiaNet/ --

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.

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Contact: 
Ms. Nie Qingxin 
Tel.: +86-21-59760717, +86-21-59761076 
Email: ciie2020@ciie.org 
Website: http://www.ciie.org/zbh/en/ 
Facebook: https://www.facebook.com/ciieonline 
Twitter: https://twitter.com/ciieonline 
YouTube: https://youtu.be/7rfDOSdbAd0 

Source: CIIE