CAEXPO 2019: Opportunity for regional trade connections

08:50 | 17/10/2019 Trade

(VEN) - As an important highlight in economic and trade cooperation among regional business communities, the annual China-ASEAN Expo (CAEXPO) opens up opportunities to connect markets and improve the position of Vietnamese goods.

opportunity for regional trade connections

Launched in 2004, CAEXPO has become an important event for businesses of both sides. It is considered a bridge to promote friendship, strengthen trade promotion, and boost multi-field cooperation between ASEAN and China. The 16th CAEXPO took place in Nanning, capital of China’s Guangxi Zhuang Autonomous Region, on September 21-24, focusing on five main pavilions - commodity trade, investment cooperation, trade in services, advanced technology, and cities of charm. According to the organization board, the Vietnamese pavilion attracted more than 50,000 visits and the value of signed contracts reached more than US$50 million last year.

This year, CAEXPO saw the participation of 150 Vietnamese businesses displaying farm produce, food and beverage, household goods, furniture, handicrafts, and processed products, among others. The products were showcased across 250 booths, covering an area of 5,000sq.m. The space allocated for Vietnamese businesses was the largest among the ASEAN countries taking part in the event.

opportunity for regional trade connections

Vu Ba Phu, director general of the Vietnam Trade Promotion Agency, said that in addition to large businesses and those winning the Vietnam Value, such as Nutifood, Trung Nguyen, and Biti’s, many Vietnamese firms brought target products to boost their penetration into the Chinese market, such as rice, dairy, and processed agricultural products, which were insufficient in previous expos.

Pham Van Nhuong, deputy sales manager of Biti’s Quang Ninh, said the company’s products have made a strong impression on Chinese consumers, growing 20 percent annually.

According to Vu Ba Phu, during years of participation in CAEXPO, Vietnam has had the highest number of booths among ASEAN countries. CAEXPO has helped Vietnamese businesses gradually affirm their position in the Chinese market and ASEAN. In addition, CAEXPO is a clear opportunity to promote cooperation and advertisement.

The Vietnam Trade Promotion Agency has organized many activities in CAEXPO. In 2018, the proportion of

Vietnamese businesses seeking partners reached 65 percent, while total value of direct trade deals stood at US$5.5

million.

Hoang Lan