The first phase of the 135th Canton Fair, a leading global trade show, concluded on Friday with a huge presence of Bangladeshi businesses.
A total of 29,209 enterprises, including 680 international firms, are taking part in the fair, which spans an area of 1.55 million square metres. Over 72,000 booths showcased a vast array of products from all sectors.
According to sources, more than 4,000 Bangladeshi traders and entrepreneurs are attending the fair this year.
While talking to this correspondent inside a pavilion, Bangladeshi trader Khorshed Alam said this year's fair felt more vibrant than previous years, reflecting China's recovery from the Covid shock.
He said the main attraction of the fair to him is the opportunity to discover new products not yet available in the market.
Another Bangladeshi businessman Akramul Huq said entrepreneurs can gather innovative business ideas and learn about the latest technologies in their sectors by attending the fair.
Mr Huq, who runs a medical furniture business in Dhaka, identified several promising new products that could benefit his customers.
"The success of the 135th Canton Fair carries significant weight in the current foreign trade landscape," said Zhou Shanging, director general of the Canton Fair Press Center. "It serves to help enterprises secure more orders and expand markets as well as to stabilise the fundamentals of foreign trade and foreign investment."
The 135th Canton Fair is themed 'Targeting High-Quality Development and Advancing High-Level Opening Up', Mr Shanging said.
Organisers said the fair welcomed more than 4,300 new exhibitors, with private enterprises making up 91 per cent of the total. Over 1 million new products are expected to be showcased, including 450,000 green and low-carbon products, and 250,000 with self-owned intellectual property.
A new initiative saw the establishment of a cross-border e-commerce pilot zone and an overseas warehouse zone, spanning a combined area of 3,000 square metres.
Besides, the Canton Fair online platform promotes 165 e-commerce comprehensive pilot zones.
The fair has taken various measures to enhance targeted global marketing. This includes expanding promotional channels and extending reach, with a special focus on targeted campaigns.
Officials mentioned increased collaboration with 226 economic and commercial offices of Chinese embassies and consulates, 69 foreign consulates general in Guangzhou, 195 Global Cooperative Partners, and 11 institutions and trading delegations.
Roadshows were also organised across multiple routes, targeting the EU, Asia, the Middle East, Central Asia and North Africa. The efforts resulted in over 144,000 buyers from 215 countries and regions pre-registering for the fair this year.
Buyer numbers increased from specific regions, including a 21.4 per cent rise from the US, a 13 per cent increase from OECD countries, a 24.7 per cent increase from the Middle East, a 45.9 per cent increase from Belt and Road Initiative (BRI) countries and a 15.5 per cent increase from Regional Comprehensive Economic Partnership (RCEP) member countries.
The fair continues to optimise the functionalities of its online platform, focusing on improving trade matchmaking, smooth communication and convenient management. Organisers upgraded 47 functions on the platform to facilitate efficient connections between buyers and suppliers.
Participants too reported improvements in the trade matchmaking function this year.
Buyers can now search product categories using keywords when posting sourcing requests, leading to better matches. Besides, a new feature allows users to trace the origin of business opportunities based on scenarios, enhancing management convenience.
The fair also employed various online promotional strategies. Dedicated columns on the official website and live streaming on international social media platforms will showcase products and target buyer delegations, further expanding business opportunities for participating enterprises.
"To provide comprehensive and whole industry chain services for enterprises, a trade service zone is set up and 209 trade service enterprises are introduced to provide 7 major services, including logistics and warehousing, testing and certification, financial insurance, etc." according to officials.
mirmostafiz@yahoo.com