First edition of the China International Import Expo (CIIE) was held on 5 – 10 November 2018 in Shanghai, China. The expo attracted approximately 3,000 exhibitors from more than 130 countries, and received more than 160,000 buyers from 80,000 domestic and foreign companies in various industries such as automobile, servicing, consumer electronics, fashion, medical and agriculture & food produce. 12 countries were chosen as “guests of honor” being Brazil, Canada, Egypt, Germany, Hungary, Indonesia, Mexico, Pakistan, Russia, South Africa, Vietnam, and the United Kingdom. Furthermore, companies belonging to the G20 countries and more than 50 countries from the Belt and Road initiative participated in the Expo.
According to the speech addressed by President Xi, China is pursuing innovative growth through continually broadening access to their market and encouraging international cooperation at multilateral and bilateral levels. For the next 15 years, China’s import of goods and services will exceed 30 trillion U.S. dollars. China being one of the largest consumer markets in the world with a fast growing and sophisticated middle class population demanding for import products, the government has cut and reduced some import tariffs to meet the domestic demand.
During the 5 fruitful days at the convention, our Latin Department visited several booths from the Latin American countries along with our representative in South America, David Barriga, who negotiated the signing of an agreement with the Coffee Council of El Salvador, a country from Central America which is experiencing a dynamic relation with China since the establishment of Diplomatic relationship in late August of this year.
Furthermore, our colleagues from Mexico and Brazil had the opportunity to speak in an event organized by the Government of the Minhang District of Shanghai. They talked about the growth of the Chinese market and how the recent economic landscape provides potential opportunities for the Latin-American business.