TO help exporters gear up for the China International Import Expo (CIIE) this November, the Department of Trade and Industry (DTI) announced it will conduct roadshows in key cities in the country.“CIIE: Your Gateway to the China Market” will discuss export opportunities in China and its import regulations. The Cebu roadshow is slated on March 20 in Harold’s Hotel.
The roadshow is in partnership with the Philippine Chamber of Commerce and Industry, the Bank of China, and the Chinese Embassy in Manila.
President Rodrigo Duterte will lead a delegation to CIIE in Shanghai, China on Nov. 5 to 10, 2018. Over 100 Philippine products and service exporters, investors and government representatives are expected to join the expo.
Announced by Chinese President Xi Jinping during the Belt and Road Forum in May 2017, the CIIE is a major international event that shows China’s firm support to trade liberalization and its commitment to open the Chinese market to the world.
CIIE is the only trade show in China to date that will feature foreign exhibitors, and no China companies on the exhibit floor.
China is expecting to import goods and services worth more than $10 trillion in the following years, and this provides a historic trade event for enterprises worldwide to enter the huge Chinese market, the trade agency said.
DTI said it will seize this opportunity to promote Philippine products and services and access a significant share of the China market.
The Confederation of Philippine Exporters (Philexport) in Cebu is eyeing to send a delegation to China this year to explore trade opportunities.
Philexport Cebu executive director Fred Escalona said this is one of the organization’s plans to establish a good trading partnership with one of the world’s largest trading nations.
However, Nelson Bascones, Philexport Cebu president, earlier said while they are eyeing to enter the China market and capture a good slice of its trade, the country’s trade pivot to China must include fixing trade barriers.
“The warming of ties between China and the Philippines sends a strong signal that we are a promising participant of China’s giant trade. Most exporters are still trying to adjust to the different way of doing business in China,” he said.
New direction
Language, trade policies, and business culture are among the barriers seen by the Filipino business community in dealing with China, especially since Filipino exporters are so used to trading with the west.
“But we are now starting to look at China as a market, rather than a competitor,” he noted.
The CIIE will focus mainly on importation of goods and services to China. The section on trade in goods includes six exhibition areas: high-end intelligent equipment; consumer electronics and appliances; automobile; apparel, accessories and consumer goods; food and agricultural products; medical equipment and medical care products.
Trade in services comprises tourism services, emerging technologies, culture and education, creative design and service.
Bilateral trade between the Philippines and China reached $23.7 billion last year, up by eight percent from $21.9 billion in 2016. China is the Philippines’ number one trading partner. China imported $6.91 billion from the Philippines last year, as against its huge exports of $16.83 billion, or trade deficit on the Philippines’ part of some $9.9 billion. (KOC)