PH surpasses sales forecast in China expo

FILE: Trade and Industry Secretary Ramon Lopez announces during a press briefing at the International Media Center (IMC) in New Delhi, India on January 25, 2018 that the Philippines and India has entered into nine agreements that aim to expand and strengthen the trade and investment relationship of both countries. YANCY LIM/PRESIDENTIAL PHOTO

MANILA — The Department of Trade and Industry (DTI) announced on Monday that the total sales of Filipino participants in the China International Import Expo (CIIE) in Shanghai surpassed its USD50-million sales projection.

DTI said that Philippine booths’ total sales in CIIE from Nov. 5 to Nov. 10 reached USD124 million — USD108 million worth of orders and USD16 million on-site sales.

Agricultural products made up most of the sales, including banana, avocado, and orange, among others.

“This is a big win for Filipino companies — especially those in the agriculture industry — as we push for greater promotion of our fresh fruits category in China’s huge market,” DTI Secretary Ramon Lopez said.

“The figures exceeded our target sales for this participation, which was USD50 million. But Philippine products, known to be of quality to foreign buyers, received overwhelming approval at CIIE,” Lopez added.

Fifty-seven exhibitors from the Philippines joined the CIIE — the first buying expo of China, which sought to increase sourcing of products outside China, in line with Xi Jinping’s direction of opening China to the world.

“This is a concrete action taken by China to advance and open world economy and support economic globalization.

Under the theme of New Era, Shared Future, the first CIIE will help friends from around the world to seize opportunities presented by China in new the era,” Xi noted in his keynote speech at CIIE.

Meanwhile, Lopez said DTI targets to book more booths in next year’s CIIE to accommodate a bigger Philippine delegation.