Global companies see CIIE as event not to be missed
Updated 22:59, 04-Nov-2019
CGTN's Global Business, Martin Lowe
02:15

The second China International Import Expo (CIIE) is approaching. The expo is the world's first national exhibition that features an import theme and is a great innovation in the history of international trade. And many Thai businesses regard CIIE as an opportunity for expansion and a firm date in their marketing diaries.

Official data shows that China's foreign trade volume reached 30.51 trillion yuan (around 4.3 trillion U.S. dollars) in 2018, up 9.7 percent year-on-year. Imports grew by 12.9 percent to 14.09 trillion yuan, thanks to stimulus measures introduced by the government.

China's imports and exports to ASEAN countries increased 11.2 percent in 2018, and China is the largest export destination for many ASEAN countries, particularly Thailand.

The main venue of the second China International Import Expo. The expo will begin on November 5 in Shanghai, China. /VCG Photo

The main venue of the second China International Import Expo. The expo will begin on November 5 in Shanghai, China. /VCG Photo

Bilateral trade between China and Thailand is worth 80 billion U.S. dollars a year. And Thailand's top three exports to China are rubber, machinery and plastics, worth a combined annual total of 12 billion U.S. dollars.

Although only in its second year, many companies seeking to enter the Chinese market see the CIIE as a must-attend event. Thai healthcare manufacturer Twin Lotus, which is famous for its body lotions, hair care and herbal toothpaste, attended the first CIIE in 2018. And the company is present again this year.

Its managing director Kamthon Leelertphan described CIIE as "a good place to start and a good place to showcase to the whole market to anybody who is interested in importing anything from outside China."