Monday, May 06, 2024
Every year, China holds a renowned exhibition where manufacturers showcase their products and new technology to the world, creating opportunities to connect with potential markets for import and export.
Guangzhou, a city located in South China's Guangdong Province, has hosted the fair every spring and autumn since 1957. The China Import and Export Fair, famously known as the Canton Fair, enjoys the longest history, the largest scale, the biggest buyer attendance, the most diverse buyer source country, and the most complete product variety.
The fair is popular among international buyers now. Thousands of buyers from all over the world fly to the city to attend the event. During this time, such visitors are seen everywhere, from the airport to hotels and lodges, in a rush to go to the fair venue. It's not uncommon to see many Bangladeshi businesspeople among the crowds.
Over the years, the Canton Fair has become an iconic event in China for conducting business with the rest of the world. Buyers find it convenient to engage directly with producers all under one roof, while sellers can connect with potential buyers who purchase products in bulk and maintain correspondence throughout the year.
The Canton Fair is currently hosting its 135th session. The first phase, which focused on the theme of “Advanced Manufacturing”, successfully took place from April 15 to April 19. The second phase, under the theme of “Quality Home Furnishings”, started on Monday. The final phase, themed “Better Life”, will be held from May 1 to May 5.
The 135th Canton Fair is being organised under the theme “targeting high-quality development and advancing high-level opening up”.
During the first phase of the exhibition, a wide range of products was displayed, including electrical appliances, consumer electronics, information products, electronic and electrical products, lighting equipment, new energy resources, new materials and chemical products, hardware, tools, machining machinery and equipment, power and electrical equipment, general machinery and mechanical parts, industrial automation and intelligent manufacturing, construction machinery, agricultural machinery, new energy vehicles and smart mobility, motorcycles, bicycles, vehicle spare parts, and vehicles.
According to Chinese authorities, the first phase was successful with strong participation from foreign firms and buyers. A total of 1,25,440 overseas buyers from 212 countries and regions attended the Canton Fair in person, which was a 23.2 per cent increase from last year. Additionally, 7.33 million people visited the event, of which 90 per cent were from overseas.
During a press conference last Friday, Guo Tingting, a vice minister of commerce, referred to the increasing number of attendees as a positive development for the global business community.
Guo stressed the crucial importance of the Canton Fair and foreign trade for China. He stated that the commerce ministry is dedicated to organising a successful Canton Fair that will provide high-quality products to consumers worldwide. The fair aims to create more opportunities for global companies to cooperate and collaborate, and to revitalise the global economy and trade by injecting new energy.
As per the authorities, the exhibition area has expanded to 55 sections. A total of 29,000 exhibitors are participating in the event, including 28,600 enterprises in the National Pavilion and 680 enterprises in the International Pavilion. The event comprises 74,000 booths, including 72,000 in the National Pavilion and 1,557 booths in the International Pavilion.
As per the plan for Phase II, the focus will be on products related to building and decoration materials, sanitary and bathroom equipment, furniture, kitchen and tableware, daily-use ceramics, household items, clocks, watches and optical instruments, gifts and premiums, festival products, home decorations, art ceramics, glass artware, gardening products, woven, rattan and iron products, iron and stone decorations, and outdoor spa facilities.
Targeted global marketing
The fair authorities have taken various measures to improve targeted global marketing by expanding channels and increasing the reach of promotion. They have enhanced promotion and cooperation with 226 economic and commercial offices of Chinese embassies and consulates, 69 foreign consulates general in Guangzhou, 195 global cooperative partners, and 11 institutions and trading delegations.
China has organised road shows across various routes leading to Europe, Asia, the Middle East, Central Asia and North Africa. Additionally, it sent out targeted invitations to key markets, such as European and American markets, Belt and Road countries, global Fortune 500 companies, and 250 global retail companies.
They have increased their media promotion efforts and partnered with financial institutions, airline companies and business travel agencies to expand their outreach to potential specialised buyers.
Additionally, they have created specialised content based on categorised customers and key themes to conduct targeted email marketing campaigns.
Bangladeshi traders interested
This correspondent has talked to several Bangladeshis who are attending the fair. A good number of them are going to attend all of the phases.
They said that the Canton Fair is significant for several reasons. The most important one is that this fair allows both parties to connect easily.
"Allow me to share an example. I run an electronics appliance business in Dhaka and we supply products in bulk to various districts. Our customers are always on the lookout for new technologies at reasonable prices, which Chinese manufacturers can provide. However, it is not easy to find out about these new technologies as it would require visiting multiple places, which is not feasible unless a fair is organised,” said Mizanur Rahman.
He explained that after getting to know about the products at the stalls, they pay a factory visit and reach an agreement on pricing before making shipments.
According to trader Rezaul Kabir, he does not have a specific business in Dhaka. Instead, he acts as a representative of several businessmen. “My work involves collecting product requirements from these businessmen, searching for them at the fair, collecting samples, and visiting factories before going back to the country. If clients like the samples, they move to import them,” he explained.
China is hopeful of signing a free trade agreement with Bangladesh by 2026. A joint working group formed by the two countries has already conducted a study for this purpose.
In FY2022-23, the trade between the two countries stood at $24 billion. Bangladeshi exports accounted for $600 million of this amount.
