Chamber sends delegation to trade expo in Shanghai

CEBU, Philippines — A Cebu business delegation is in Shanghai, China this week to woo Chinese traders at the first China International Import Expo (CIIE).

Prior to the import expo starting today until Nov. 10, officials from the Cebu Chamber of Commerce and Industry met last week with the Hangzhou Chamber of Commerce, which has over 50,000 members.

It’s expected that over 160,000 buyers from China and abroad will attend the CIIE, giving opportunities to Filipino businessmen to market their products.

The expo is a major move by China to support trade liberalization and open its markets wider to the world. The CIIE serves as a brand-new springboard for foreign businesses and products eyeing the Chinese market.

CCCI president Antonio Chiu earlier said the chamber’s delegation represents “a cross section of the business community of Cebu.”

“This is the first time China is hosting an expo with the intention of importing more goods from the world,” he said.

“This is our opportunity to meet with business people who are interested to buy more products from the Philippines and Cebu in particular,” Chiu had said.

China aims to import US$10 trillion worth of products and services in the next five years, which poses an enormous potential for suppliers from the Philippines to penetrate the huge China market.

China’s market, according to Forbes, is emerging as consumers are now rapidly engaging digital ways in marketing with 420 million internet users in China.

China, with 1.42 billion people as of 2018 and being the world’s second biggest economy, second largest importer and consumer globally, offers so much trade opportunities for the Philippines as its key trade partner.

China is now much willing to buy more from the Philippines as relations between the Philippines and China have improved under President Duterte. (FREEMAN)