Chinese officials told a press conference that the upcoming fair is aimed to further aid trade between China and South Asian countries, help China import more from South Asia and reduce the trade imbalance between China and South Asian countries.
Chen Jian, vice minister of the Ministry of Commerce, said trade between China and South Asia had developed vigorously in the last few years, with two-way trade volume jumping to 66 billion U.S. dollars last year from 5.7 billion U.S. dollars in 2000.
Chen said both Chinese and South Asian economies were hit by the global financial crisis, which featured plunging exports, deceleration of economic growth and factory closure, and the commodity fair would help China to import more from South Asian nations and provide an opportunity for these countries to discuss how to expand trade and fight the financial crisis.
According to Chen, the Chinese government was taking a series of measures to improve trade with South Asian countries, including cutting tariffs, aiding import and export, and encouraging imports from South Asian countries.
Gu Chaoxi, vice governor of Yunnan, announced that the second commodity fair, like the first which was held in Beijing in December 2007, would also exempt booth and exhibition fees for all South Asian exhibitors. The Chinese organizer would also cover the transportation cost of exhibits once they were within the Chinese boundary.
Gu also promised to offer other free services for exhibitors from South Asia, such as publicity, marketing and quick customs declaration.
Gu also said three major events would be held on the sidelines of the upcoming commodity fair, namely, a high-level official meeting between China and South Asian Association for Regional Cooperation, policy briefings for investment in South Asia and trade cooperation meeting.
Gu said the upcoming commodity fair was planned to have more than 350 booths for exhibitors from seven South Asian countries, including India, Pakistan, Afghanistan, Bangladesh, Sri Lanka and Nepal.
According to Gu, the commodity fair would be held alongside the 17th China Kunming Import & Export Commodities Fair, an annual regional trade exhibition sponsored by Yunnan and its neighboring regions including Sichuan and Tibet.