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  • KITA Participates in ‘China International Import Expo’ with 200 Traders
    2019-11-06 hit 722

    KITA Participates in ‘China International Import Expo’ with 200 Traders


    - The event opens in Shanghai on 5th KITA signs MOU worth 15 million dollars with Suning Group for the purchase of KITA’s member companies’ products  -

     

    The Korea International Trade Association (Chairman: Kim Young-ju) and the Ministry of Trade, Energy and Industry participated in ‘The 2nd China International Import Expo’ held at the National Exhibition and Convention Center (NECC) in Shanghai for six days from November 5th to 10th. 

     

    In this regard, Chairman Kim Young-ju of the Korea International Trade Association, which sent 200 small and medium-sized companies to the fair, 14 more than last year, held a meeting by inviting 10 participating companies in the fair as well as the large Korean companies operating businesses in Shanghai, such as Samsung and CJ, on the 4th and listened to their opinions on business environment and trade difficulties. On the 5th, he continued to meet with key figures, including Liu Jiayi, Communist Party Secretary of Shandong Province, and the executives of Bank of China and discussed the measures to strengthen bilateral business cooperation.

     

    The Korea International Trade Association (KITA) also signed a Memorandum of Understanding (MOU) worth 15 million dollars with Suning Group on the 7th for the purchase of KITA’s member companies’ products over the next one year.

     

    An official from NUC.CO,LTD, a Korean juicer manufacturer, said, “We met with Suning Group, China's third largest privately-owned company as well as Forbes Global 500, in the last year’s fair and signed the contract and has exported our products worth 1.7 million dollars so far. Additional contracts are under discussion as the responses from the local market are good. So, we have high expectations for this year as well.

     

    In addition to Korea, more than 3,000 companies from some 150 countries, including the United States, Italy and France, the countries with trade deficit with China, and one belt one road countries took part in the event. The Chinese government has invited about 500,000 buyers, including 600 purchasing teams organized by 39 provinces and cities in China as well as from overseas. During the exhibition, more than 200 events such as international exchange meetings, business matching consultations, and economic and digital trade forums were carried out.

     

    Cho Hak-hee, head of the International Affairs Group at the Korea International Trade Association, said Since China takes up 27 percent of Korea’s total exports and has 1.4 billion consumer populations, China is an irreplaceable market. He also mentioned, The Import Expo is China's leading national trade fair. We hope that more companies will utilize the event as it not only shows domestic market trends at a glance, but also is an efficient platform to make inroads into China.


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