US farmers score $711 million in contracts at CIIE 2024, boosting China trade ties

The seventh China International Import Expo (CIIE) concluded on Sunday, with American agriculture exhibitors signing deals with their Chinese partners amounting to $711.4 million, a 40.9 percent increase over the previous year's $505 million.

This year, 14 US exhibitors representing 31 organizations, participated in the US pavilion. 

This marked the second time that the US participated in the CIIE at a federal government level, emphasizing the importance of the food and agricultural sectors in fostering strong US-China commercial ties, according to the American Chamber of Commerce (AmCham) Shanghai.

Agricultural cooperation between China and the US is promising, said Allan Gabor, the chairman of AmCham Shanghai, in an interview with CGTN. Beyond agricultural goods trade, he said there was potential for further bilateral cooperation in areas like biosecurity and sustainability.

Seeing China as a very important partner of the US soybean industry, Jim Sutter, the CEO of the US Soybean Export Council, said he is optimistic about the future of the bilateral trade relationship.

Jason Hafemeister, acting deputy under secretary of the USDA, reportedly expressed the US government's commitment to maintaining a healthy and stable trade relationship with China. He highlighted on the sidelines of the CIIE the potential for future collaboration, especially in agriculture.

Cao Derong, the president of the China Chamber of Commerce of Import & Export of Foodstuffs, Native Produce & Animal By-Products, said that the agricultural products imported from the US cater to the needs of the Chinese market and increase the income of American farmers. Both sides have gained tangible benefits which lay solid ground  fo cooperation, he added. 

"CIIE has proven once again to be an important platform to showcase American products and services," said AmCham Shanghai President Eric Zheng.

All in all, participants of the 2024 CIIE secured tentative deals valued at $80.1 billion, up two percent from the previous year.