HGK co-finances the participation of Croatian companies at the import fair in China, organizes meetings

The Croatian Chamber of Economy will co-finance the costs of participation of Croatian companies at the first China International Import Expo, which will be held in November in Shanghai, through which China plans to increase its imports. HGK will also organize a business forum and discussions between Croatian and Chinese companies.

The first China International Import Expo will take place in Shanghai from November 5 to 10 this year. In the next five years, China, with a population of approximately 1.3 billion, is expected to import products and services worth more than $10 trillion.

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At the fair, a Pavilion of Trade and Investment by country will be organized, where countries will be able to showcase their own investment development, trade in goods and services, conditions in industry and tourism. This part will be intended for presentation, not for contracting business.

A Business Exhibition will also be organized, where companies will be able to present their goods and services in the exhibition space, including intelligent and high-level finished equipment, consumer electronics, household appliances, clothing, consumer goods, automobiles, food and agricultural products, medical devices and instruments, pharmaceuticals, and healthcare products. In terms of services, they will be able to present emerging technologies, outsourcing, innovative design, culture, education, tourism services, etc. At this exhibition, countries will be able to negotiate sales with Chinese companies or those from other countries.

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The Expo has also launched an online trading platform. Companies participating in the fair will be able to present their products on this online platform. In this way, they can seek potential partners and conduct online business using cashless tools such as digital payment systems.

By the way, approximately 2,000 companies have applied to participate in this fair.

China will import more to balance foreign trade

The organization of this first import fair is linked to China’s intention to increase its imports. In early July, China announced guidelines for expanding imports to achieve a more balanced foreign trade.

With these guidelines, China intends to optimize the structure of its imports to upgrade production and consumption, abolishing tariffs on certain products, and approving incentive measures for the import of everyday consumer goods, medicines, and rehabilitation and elderly care equipment.

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At the same time, it will focus on expanding imports from countries associated with China’s “One Belt, One Road” initiative.

The Croatian Chamber of Economy (HGK) states that the interest of Croatian companies in exporting to the Chinese market is growing year by year.

The most interested in the trip – food and cosmetics manufacturers

This year, HGK received the most inquiries related to the possibility of exporting food products, tourism services, and natural cosmetic products. Thus, the greatest interest in participating in the first China International Import Expo has been expressed precisely in these sectors, they emphasize, adding that there is also interest in companies in the energy and IT sectors.

“HGK, through its internationalization projects, enables companies to co-finance part of the costs for participation in the event, and on the margins of the fair, HGK plans to organize a business forum and individual business discussions between Croatian and Chinese companies,” it is stated in response to Hina’s inquiry.

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It is added that within the framework of the “Belt and Road” initiative, the Chinese government continuously organizes a series of delegations, events, lectures, fairs, business gatherings, and forums, but they note that the China International Import Expo differs in that the focus is on the import of products and services into China.

HGK expects a very large number of different products from all parts of the world that are involved in the mentioned initiative at the fair.