The Buyers' Corner event introduced at this year's China International Import Expo (CIIE) has enhanced the deal-making process between local buyers and global sellers.
Over 70 buyers from sectors including catering, e-commerce, large-scale supermarkets, and international trade are stationed at the Buyers' Corner, engaging directly with exhibitors to discuss potential collaborations and select products in person.
Compared to previous years, negotiation sessions have become semi-formal to help streamline talks and boost networking. Exhibitors queue to meet with buyers for sessions that last 15 minutes.
Delinda Silva, Executive Director of PortugalFoods, the managing entity of the Portuguese Agrofood Cluster, noted that this format enables small and medium-sized overseas suppliers who are new to the market to integrate into the China market more swiftly.
She also emphasized that doing business in the Chinese market is become easier as the country strives to ensure products can reach its ports from across the world.
"With the sophistication of the channels -- digital channels in China, logistics and everything that are being with huge projects like the Belt (and Road) Initiative or the Silk Road and everything else. These kinds of projects are projects that help, logistically speaking," Silva said.
Moses Attobra, an exhibitor from Ghana, shared that this is his second time participating in the CIIE, having decided to return after seeing the many advantages the expo presented last year.
"It's great to be here because there are opportunities to meet buyers and to also see suppliers. So far, (we have) potentially about six different people expressing interest. I'll be having meetings with some of them in Guangzhou," he said.
The Buyers' Corner features over 20 tables, each equipped with an interpreter to facilitate smoother negotiations and enhance collaboration.
"It is estimated that there may be nearly 300 rounds of negotiations (this morning), and each buyer's intentions are very clear. I know of one company that is particularly interested in beverages and is already negotiating to explore how the containers in the back can be brought in," said Xie Yanjing, a staff member with the investment promotion office of the China International Import Expo Bureau.
Local buyers said the negotiation format helped them ink sizable deals that they believe will be highly lucrative.
"We mainly purchased exquisite consumer goods, food, and high-quality alcoholic beverages from Australia, New Zealand, Vietnam, Brazil, and other regions. The total purchase amount made at the Buyer's Corner was approximately 20 million U.S. dollars," said Zhou Zhiyong, deputy general manager of Greenland Global Commodity Trading Hub.
Many foreign exhibitors expressed their belief the Chinese market is increasingly becoming a key opportunity for the world.
"The Chinese market is the biggest marketplace in the world, so the cooperation is huge. Mainly, we think ten, fifteen, twenty years from now, our brand will be a major player here, because the Chinese market continues to grow," said Scott Taylor, a U.S. exhibitor.
The 7th CIIE, being held from Nov 5-10 in Shanghai, has attracted participants from 152 countries, regions and international organizations.
7th CIIE provides improved business matchmaking platform
