China is the second largest trade partner of the South American country of Colombia. Colombia sold 4.6 billion U.S. dollars worth of goods to China last year, but the South American country's exports to China is dominated by mineral and petroleum, which make up about 80 percent of the total volume.
However, Colombia's products are more than that. Colombia's President Iván Duque is in Beijing for a state visit and discussed plans to expand exports to China at a trade forum with Chinese businessmen.
"Colombia's coffee, banana, shrimp, and avocado are competitive agricultural products," said President Duque. "These products can enter China and meet the Chinese demand for high quality agricultural products."
China-Colombia Economic and Trade Forum, July 31, 2019. /CGTN Photo
What the Colombians are looking for is to diversify the products they are selling to China. A deal on bananas has already been signed during the Colombian president's visit, which allow Colombia to export more bananas to China.
President Duque is also signing deals on avocados. Duque said expanding trade with China is going to be a win-win for the two countries. "If we can sell more products to China, it will greatly benefit Colombian farmers, and Chinese consumers' demand can also be met," said President Duque.
Coffee is one of the most promoted Colombian products at the Beijing event. Colombia is one of the world's largest coffee producer, while China, though a traditionally tea drinking country, has a rapidly rising coffee market. Demand for imported foodstuff in China is high.
"China has a fast expanding middle income population, their demand for high quality food is high," said Chen Zhou, vice chairman of China Council for the Promotion of International Trade (CCPIT). As urbanization and consumption upgrade continue, China's market potential will continue to be released.
In 2018, trade volume between China and Colombia reached 14.6 billion U.S. dollars, a 29 percent increase from 2017.
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3
Copyright © 2018 CGTN. Beijing ICP prepared NO.16065310-3