China-South Asia Expo strengthens regional ties with focus on trade, cooperation

A corner of the ongoing China-South Asia Expo held in Kunming, Southwest China's Yunnan Province on July 23, 2024 Photo: Feng Fan/GT

The China-South Asia Expo opened on Tuesday in Kunming, Southwest China's Yunnan Province, showcasing a deeper commitment to regional cooperation. Exhibitors expressed optimism for the Chinese market and praised the event for providing opportunities to expand business in the region.

Pakistan is a featured country this year, with a 360-square-meter exhibition area designed to showcase its national heritage. The exhibits include agricultural and handcrafted products.

"I have participated in the expo five times. We mainly export handicrafts to China, which are very popular. The expo provides us an excellent opportunity to display our goods directly to Chinese customers and purchasers," Imran, a Pakistani merchant told the Global Times.

The China-Pakistan Economic Corridor has notably facilitated bilateral trade, for example, it has reduced the transit time of our products from 50 days by sea to just 15 days via land, Imran added. "In the future, I expect train lines can be built in the corridor, which could cut the transportation time more."

Beyond Pakistan, South Asian countries such as Sri Lanka, Nepal and India have also sent delegations to the expo.

The expo has been very beneficial for Sri Lanka, especially for small and medium-sized enterprises. New companies often lack the experiences to expand internationally due to the high cost of trade fairs in other countries. The expo brings Sri Lankan companies with exhibition opportunities, Devika Mendis, a commercial research officer from the Sri Lankan delegation, told the Global Times.

China has continuously strengthened pragmatic economic and trade cooperation with the region since the proposal of the Belt and Road Initiative in 2013.

Last year, China's trade with South Asian countries doubled to nearly $200 billion compared with 2013, cementing China's role as the top trade partner for most South Asian countries and facilitating their products' access to the huge Chinese market, the Chinese Ministry of Commerce said.

Sri Lanka is keen to continue its participation and expand its delegation size in the expo. Last year, Sri Lanka had 56 exhibition booths, while this year we have expanded to 112 booths, Mendis added. "Domestic businesses are lining up to be part of this grand event."

Indian firms also noted the importance of the expo to small and medium-sized businesses, expressing optimism about expanding their presence at the event.

"There are many expos that help trade with China, but the expo is especially important for small and medium-sized businesses, as many of the products displayed here are from labor-intensive sectors," said Ajay Sahai, director-general and CEO of the Federation of Indian Export Organization.

The expo also attracts a growing number of Southeast Asian exhibitors, reflecting deeper integration under the Regional Comprehensive Economic Partnership and expanding bilateral trade with countries like Malaysia and Laos.

"We hope to further promote trade between Laos and China, and highlight Lao products, particularly agricultural goods," said Thanousone Phonamat, a vice president of the Lao National Chamber of Commerce and Industry.

This year's event coincides with the 50th anniversary of diplomatic ties between China and Malaysia, sparking keen interest among Malaysian businesses. "We are hoping for a larger delegation and more booths for next year's expo," said Fan Shu Hua, general manager of ES Event Management Sdn Bhd.

Since settling in Kunming 11 years ago, the expo has gone through seven sessions, engaging more than 18,000 domestic and international enterprises and drawing more than 4 million visitors.

The associated cumulative foreign trade turnover has surpassed $100 billion, with more than 3,000 projects signed and established during the expos, reported the Yunnan Daily.

This marks the eighth session of the China-South Asia Expo and the 28th Kunming Import and Export Fair. Scheduled to run from Tuesday through Sunday, the event features the theme of unity and cooperative development. It boasts participation by 82 countries, regions and international organizations, with more than 2,000 exhibiting enterprises.