Trade relations between China and the Gulf Cooperation Council (GCC) Countries have quickened pace over the past few years where in the year 2005, over US$32 billion dollar worth of goods and services were traded.
The United Arab Emirates’ share of this trade amounted to US$10 billion, which makes the UAE - and Dubai in specific - China’s largest trading partner in the region. With this in mind, businessmen from around the region are expected to flock to this year’s Chinese Export Commodities Fair, or the Canton Fair, now in its 100th year, which will be held in mid October in Guangzhou China.
The Canton Fair is made up of two sessions, one in April and another in October each year, and is deemed to be the biggest fair in China both in terms of the number of Chinese companies, and the number of international visitors participating in it. Renee Wang, general manager of Dragon Century Tourism, believes that the Canton Fair is the most significant platform for regional businesspeople to meet and engage with Chinese business interests.
“With the growing significance of trade with China over the past few years, we have seen an impressive uptake in the number of regional businesspeople, especially from the UAE, visiting the Canton Fair. Dragon Century Tourism has set up its services to target such business travelers providing them with all the services they require to make their trip more effective.”
Dragon Century Tourism is a Dubai based company that aims to facilitate trade relations between China and the GCC. “We have developed valuable packages which include travel arrangements in leading international airlines, accommodation in 5 Star hotels as well as on the ground support including translation, guided tours and other business related services,” she continued.
The October session of the Canton Fair is the most significant one in its history. In terms of size, the Fair will cover an area of 576,000 square meters. From October 15th to 20th, the fair will focus on industrial products, textiles, garments, footwear, medical and health products. From October 25th to 30th, the fair will focus on consumer goods, food and beverage, gifts, children’s toys, garden products, paper supplies, sport requisites and other consumer products.
Figures from the April session of the Canton Fair reflect the importance of the upcoming October session where an estimated 190,011 visitors swarmed the venue 211 countries and regions and business turnover amounted to over US$32,220 million.
CHINA & GCC Press reports indicate that total trade between China and the GCC is expected to rise considerably during the first half of 2006, where unofficial statistics estimate that total trade between the two will reach US$22 billion. Since 2004, China and GCC government officials have been involved in negotiations to set up a free trade agreement. July 2006 saw the closing of the third round of negotiations. Automobiles, communications, electrical appliances, pharmaceutical materials, fashion and foodstuffs account for the most significant products exported to the Middle East region, in which the air shipment sector plays a major role.
