Small businesses from 24 countries explore new business opportunities in China
As an official partner of the China International Import Expo (CIIE), the International Trade Centre (ITC) supported the participation of 66 micro, small and medium-sized enterprises (MSMEs) from 24 developing countries in the Expo, from 5 to 10 November 2021 in Shanghai.
More than 1,000 Chinese buyers visited ITC booths at the 2021 CIIE edition. Buyers, including Triumdoor Trading (Shanghai), who established a long-term partnership with a Kenyan company through ITC at CIIE 2018, reported that this was a unique platform for finding new products and services.
The participating companies received 150 new business inquiries and more than $10 million worth of business leads in food, consumer goods, and services.
A cashew company from Cambodia signed a letter of intent for worth $400,000. “It is really a good opportunity, especially with the severe impact of the pandemic on our business,” reported the company’s General Manager.
A Zambian honey exporter explained that ITC’s support through online and offline business linkages and video conferences with buyers built a beneficial and sustainable bridge between Chinese buyers and companies in developing countries such as his.
Follow-up connections between MSMEs and Chinese buyers are ongoing through more than 20 dedicated WeChat groups, related to orders of tons of Moringa seeds, soybeans, black tea, honey and coffee.
The businesses’ participation was organized in hybrid format with the cooperation of Alibaba.com. ITC and Alibaba.com also launched the "Global Digital Trade Accelerator for MSMEs in Developing Countries" on the margins of CIIE to support the MSMEs in selling their products through e-commerce.
Participation at CIIE was possible through the 'Trade Promotion between China and other Developing Countries along the Belt and Road Initiative' project supported by the Ministry of Commerce of China (MOFCOM), implemented by the International Trade Centre