• Phl targets $26-M sales from China expo

NANNING, China — The Philippines is aiming to generate at least $26 million worth of export sales from the 15th China-ASEAN (Association of Southeast Asian Nations) Expo (CAEXPO), one of China’s biggest trade events.

Trade Undersecretary Nora Terrado said yesterday the Philippines is participating in the 15th CAEXPO, which is slated to open today (Sept. 12) and run until Sept. 15, at the Nanning International Convention and Exhibition Center in Guangxi, China.

She said the country wants to generate “at least $26 million in export sales” from the event.

“We filled one hall at the Commodity Pavilion with 70 product exhibitors and two tourism promotion board agents and five investment promotion agencies. The rest of the spaces will be used as B2B (business-to-business),” she said.

“This is the biggest in the 15 years of CAEXPO,” she added.

During the CAEXPO, she said the Philippine pavilion will feature food and design-centric products including wearables like footwear.

Apart from the Philippines, Ministry of Commerce of China spokesman Gao Feng said other ASEAN countries such as Cambodia, Indonesia, Lao People’s Democratic Republic, Malaysia, Myanmar, Thailand and Vietnam will also have their independent exhibition halls to showcase their own products.

He said this year’s event is expected to have more than 11,000 trade visitors, up 10 percent from the previous edition.

“There are 700 buyers from non-CAFTA (China-ASEAN Free Trade Area) members like Tanzania, Egypt, Iran, Ethiopia, India, Russia, (and) Ukraine,” he said.

Co-sponsored by the government of China and the 10 ASEAN member states, as well as the ASEAN secretariat, the CAEXPO is being held with the aim of advancing the China-ASEAN Free Trade Area and relations by providing opportunities for cooperation and development.

The CAEXPO is also being held along with the 15th China-ASEAN Business Investment Summit which seeks to promote further exchange between the Chinese and ASEAN investment communities.

Given warm ties between the Philippines and China, the Department of Trade and Industry (DTI) wants to increase exports to the latter and take advantage of opportunities in the Chinese market.

From the years 2015 to 2017, Philippine merchandise exports to China have posted a compound annual growth rate of 13.95 percent.

Last year, China was the Philippines’ top trading partner as total bilateral trade reached $23.82 billion.