With the UAE being the favourite destination for Chinese exports, the Chinese Commodities Fair Sharjah (CCFS) has fast emerged as one of the leading platforms that help regional traders deal directly with manufacturers from China.
The Chinese Commodities Fair Sharjah got under way today (November 22, 2010) and will continue until Thursday (November 25, 2010) at Expo Centre Sharjah. The fair is being held under the patronage of HH Sheikh Sultan Bin Mohammed Bin Sultan Al Qassimi, Sharjah Crown Prince and Deputy Ruler.
“The UAE has a large share of China’s trade with the GCC region, mainly due to the strengthening economic ties between the countries, UAE’s advantages are its location, its cost and market as well as its status as an international business hub between the Western and Eastern markets,” said Chinese Consul General in Dubai Zhan Jingbao.
“The best possible way to tap into the business opportunities arising out of these favourable trade ties is the Chinese Commodities Fair Sharjah, where regional traders can talk business directly to leading establishments from our provinces. This is a good opportunity to tap into the technological leap achieved by China,” said Mr Jingbao.
The UAE is China's second key trade partner in the Middle East and hosts the largest number of Chinese community and companies in the Middle East. Trade between the two countries had been on the rise, with the value of the trade in the last decade (1999 to 2009) reaching US$ 119.4 billion. Exports grew at an average of 37.9 per cent between 1999 and 2009, while imports rose at a rate of 31.1 per cent during the same period.
The four-day show was opened by Mr. Mohammed Sultan Bin Houwaden, First Vice Chairman, Sharjah Chamber of Commerce & Industry.
Those present at the opening ceremony included Chinese Consul General in Dubai Zhan Jingbao, Mr Ahmed Mohammed Al Midfa, Chairman of the Sharjah Chamber of Commerce and Industry, Mr Patrick Zheng Shuo, General Manager of Chinamex, Mr Saif Mohammed Al Midfa, Director-General of Expo Centre Sharjah, and Chinese Consulate, Sharjah government and SCCI officials, among others.
“China is the second biggest trade partner of the UAE behind India, and the UAE has interests in hundreds of investment projects in China. The countries are working at increasing the number of businesses and investment opportunities, which is reflected in the frequent high-level visits and meetings between leaders and officials from both the sides,” said Mr Ahmed Mohammed Al Midfa.
The UAE is the number one Arab investor in China, controlling more than 650 projects, official figures showed. China has around 3,000 ventures in the UAE while projects owned jointly by the two countries have peaked at nearly US$ 12 billion, showed the figures by the Abu Dhabi Department of Economic Development.
“Through CCFS, we aim to simplify the trading process between businesses in both the countries. This is made possible by bringing leading establishments from our provinces closer to the Middle East markets, by facilitating interaction between businesses from both the sides, and reducing time, travel and transporting factors,” said Mr Patrick Zheng Shuo.
“The UAE economy is set to grow more than three per cent in 2010 and at a much faster pace next the year. Other countries in the region too are on a growth track, signalling increased manufacturing and industrial activities in the near future. The presence of hundreds of leading Chinese firms and their thousands of products and services at a single venue like CCFS will be a boon for these regional businesses to obtain all their requirements at the most cost-effective way,” said Mr Saif Mohammed Al Midfa.
The UAE receives goods and services from China ranging from textiles to machinery and mechanical appliances, base metals and plastics and rubber products. The imports also comprise construction materials such as bricks and dressed stone, hardware supplies and heavy machinery and related parts and accessories, according to recent data released by the Commercial Office of the Chinese Consulate in Dubai.
This year, the exhibit profile at CCFS will cover sectors such as Food & food products, light commercial vehicles & parts, building materials, healthcare, native products, electronics & IT products and lighting & décor products among others.
The show is being jointly sponsored by the Ministry of Commerce of the People’s Republic of China, and the Sharjah Chamber of Commerce and Industry, and organized by Chinamex and Expo Centre Sharjah
