Editor's Note: Sayed Attia is an international trade expert in Egypt. The article reflects the author's opinions, and not necessarily the views of CGTN.

From November 5 to 10, 2019, China is going to convene the second China International Import Expo (CIIE). This conference is a firm commitment of China to its long run opening-up policy that started since late 1978. The key characteristic of the conference is that it is convening amid the atmosphere of new-mercantilism and return of protectionism. 

This kind of international expo works as a gathering of parties from different countries across the globe to showcase their products and to exchange cultural values of their motherlands and hometowns with their counterparties from different countries. CIIE event is a translation of the long-established commitment of Chinese leaders to opening up and mutual benefit for China and the others.

In his book "The Period of Deng Xiaoping's Reformation" the author Dr. Wu Guoyou, who worked as Director of the Center for Deng Xiaoping's Theory Studies, wrote that Deng attached great importance to the relationship of China with the rest of the world and China cannot develop itself in isolation from the world.

The doctrine of interaction with the world is an established fact in the thinking of Chinese political leaders. In his valuable book "On Building a Human Community with a Shared Future" President Xi Jinping, confirmed that "building a human community with a shared future will require the universal participation of the people of all countries. We should advance this great undertaking together by building consensus among people of different nations, different beliefs, different cultures, and different regions".

What does it mean when the largest populated country on earth opens its market for more than 100 countries to show their goods and cultures? China’s population of 1.4 billion people means an increasing purchasing power. This huge market provides exporters across the world to reduce their cost as a result of exporting huge quantities which reduces the logistics and cost transportation. 

China will be the driver for economic development for countries participants by allowing them export to this huge market. In the past, Chinese exporters used to export a variety of goods to the developing countries, now the situation is reversed, where China has opened its market to receive a gamut of goods and service from the world. 

There are many tangible fruits of the CIIE. According to China Briefing based on CIIE Bureau, the volume of transactions agreed equaled 57.8 billion U.S. dollars with more than 90 percent of the contracts completed in the past year. 

Most importantly, during this year's CIIE conference, the current trade tension between China and the U.S. did not prevent American firms to extensively participate in CIIE. Furthermore, the number of American firms that will attend the conference increased by 18 percent compared with those attended last year CIIE, according to Ren Hongbin, assistant minister of commerce, at a news briefing in Beijing. 

This extensive participation of American enterprises in CIIE reflects that the private sector looks for the opportunities and may not affect by the policies of its governments.

Both the CIIE and the Belt and Road Forum for International Cooperation initiatives reflect China's firm commitment to support trade liberalization and economic globalization and actively open the Chinese market to the world. It will help countries around the world to strengthen economic and trade exchanges and cooperation, and to promote global trade and world economic growth in order to make the world economy more open.

In short, the CIIE may be considered one of many tools of China's soft power. The impact of CIIE is not restricted to the transactions signed during the event but extended to show the significant developments that happened in China. It is an opportunity to show what kind of goods and services can be introduced to such a huge market.

CIIE is an application of the theories of international trade that support the liberalization will benefit all parties through externalities, technology spillovers, benefits of enlarged markets and economies of scale. Furthermore, it is a lesson for participants to exchange experience and know the latest developments in technology and innovation. Finally, it is a testimony of China's commitment to opening up and deepening reform. The doctrine of mutual benefit is always there.    

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