Government News
NZ companies seek to shine in expo spotlight 2023-07-04
With China making moves to encourage foreign companies to play a bigger role in its market, business leaders expect that the country's prestigious trade fairs such as the annual China International Import Expo and its ongoing consumption upgrading will provide attractive growth opportunities for countries, including New Zealand.
They said that the prospects for economic and trade cooperation between China and New Zealand are broad, with consumption upgrading forming a key growth point for New Zealand companies operating in the country.
Leo Liu, general manager for China of Grin Natural Inc, an Auckland-based oral care brand and a five-time CIIE participant, said as the trade between China and New Zealand grows stronger, Grin will continue to increase its investment in China and it will take part in the sixth CIIE, which will be held in Shanghai in November, to further expand its presence in the country.
"We will partner with domestic research and development institutes to introduce more healthy and environmentally friendly products into the Chinese market and meet consumers' demand for segmented oral products," he said.
Justine Arroll, trade strategy manager of Fonterra Co-operative Group Ltd, a New Zealand multinational dairy company, said that the CIIE is now the seminal event in Fonterra's calendar in China.
"Fonterra has been involved with the CIIE since its inception in 2018 and over that time, we have grown the footprint of our booth from 50 square meters to 260 sq m this year," said Arroll, revealing that Fonterra will launch a brand-new high-protein ultra-high-temperature milk during the upcoming event in Shanghai.
Similar views on the expo were expressed by Terry Lee, managing director of Milk New Zealand, another dairy company. "Participating in the CIIE brings great benefits to Milk New Zealand. We consider the CIIE as a platform for launching new products, gaining media attention, expanding distribution channels, engaging in exchanges and learning with our peers."
Liu, from Grin Natural Inc, said that the Regional Comprehensive Economic Partnership has also provided fresh cooperation opportunities for Grin Natural, as the low or zero tariffs on bilateral trade between China and New Zealand allow Chinese consumers to purchase imported oral care products from the Oceania country more conveniently.
The Philippines became the final member to activate the RCEP agreement in early June.
The fully implemented RCEP pact will facilitate businesses to better explore new market opportunities, promote product and service innovation, and improve their competitiveness to better serve consumers in the Asia-Pacific region, Liu said.
According to China's Ministry of Commerce, the full-force implementation of the RCEP agreement demonstrates the commitment and actions of all 15 participating countries to support a multilateral trading system that is open, free, fair, inclusive and rules-based.
Dong Yifan, assistant research fellow at the Beijing-based China Institutes of Contemporary International Relations, said: "The enthusiasm of New Zealand companies shows that the opportunities in the Chinese market and the appeal of Chinese partners are unparalleled for global companies."
"The sixth CIIE will write a new chapter of openness and cooperation. It will reinforce China's firm determination to support trade liberalization and economic globalization," said Dong, adding that a growing number of foreign companies are keen to display more products at the expo this year to meet the surging needs of Chinese consumers.
Over the past five CIIEs, companies from 171 countries and regions, including 44 of the world's least developed countries, showcased over 2,000 new products, technologies and services at the business exhibition, and secured tentative deals worth nearly $350 billion, according to information released by China International Import Expo Bureau, the event's organizer, in May.
In the meantime, 131 countries and international organizations have participated in the expo to promote global opening-up and cooperation.
Source: China Daily
Source:China Daily
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