$200 billion in world’s largest trade fair

By Abu BakarrKargbo
The 121st China Import and Export Fair, otherwise known as ‘Canton Fair’, officially openedon 15th April unto 15 to 5thMay 2017 at the China Import and Export Fair Complex in Guangzhou. The Canton Fair launches new product areas while at the same time hosting a series of events to offer an outlook for current international trade market.
The exhibition is accommodating over 20,000 exhibitors from around the world. An estimated number of 200,000 buyers from 210 countries and regions are expected to join the 121st Canton Fair where they can access more than 60,000 exhibition booths.
Co-hosted by the Ministry of Commerce, the People’s Government of Guangdong Province and organized by China Foreign Trade Centre, the Canton Fair is held annually in Guangzhou City. Canton Fair is a comprehensive international trading event with the longest history, the largest scale, the most complete exhibit variety, the largest buyer attendance, the broadest distribution of buyers’ source country and the greatest business turnover in China. As at the 120th session last year, the world’s largest trade fair accumulated export volume of about $1.2trillion and total number of overseas buyers has reached 7.83 million.

Last year, the Trade Fair recorded 200, 000 buyers from over 210 countries with a transaction volume of over $200billion.
“It is a bond of friendship and development oriented event, which brings exhibitors from across the world to come to China for business,” says Li Jinqi, Deputy Director General and Secretary General of China Import and Export Fair, and added that they are adhering to international best practices in relation to innovation, coordination, environmental protection, trade facilitation and advancements.
Liu Quandong, the Director of International Liaison of the Canton Fair informed this press that they want to further build the event for it to become a multi-stakeholder platform by making use of international trade platforms that ensure good negotiation for fair trade.
The Canton Trade Fair has continuously deepened the bi-lateral trade relationship between China and Africa.
In last year’s event, 13, 764 African Buyers were in attendance, whist 7, 420 invitations were sent out to the Continent.
“We are willing to work with Africa at all times because we have a bond of friendship and share a common economic interest,” says Mr. Liu Quandong.
The Canton Fair has withstood various challenges and never been interrupted. The Canton Fair enhances trade connection between China and the world, demonstrating China’s image and achievements of development. It is the best platform for Chinese enterprises to explore the international market and an exemplary base to implement China’s strategies for foreign trade growth. The Canton Fair serves as the first and foremost platform to promote China’s foreign trade, and a barometer of the foreign trade sector. It is the window, epitome and symbol of China’s opening up.
In recent years, the Canton Fair has kept up with the times and followed the steps of China’s reform and opening up and China’s foreign trade development. The Canton Fair has been committed to drive the transformation and upgrading of China’s foreign trade and focused on specialization, market orientation, information application and global perspective. It also advances the smart model and green development. The Canton Fair is shifting from a single platform for export to a comprehensive one featuring business networking, display and negotiation, industrial communication, information release and product promotion, with bigger and bigger progress.

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