Indian biz participate in China's South Asia Expo
The Dollar Business Bureau
A large delegation of businessmen and traders from India is participating in the yearly China's South Asia Expo which was inaugurated on Sunday in China’s southwest Kunming city.
At the expo, the Federation of Indian Export Organisations (FIEO) and Indian Chamber of Commerce (ICC) set up special pavilions, which were inaugurated by Y K Sailas Thangal, the Indian Consulate General in Guangzhou.
The expo which is into its fourth year attracts businessmen from China, and countries from South and South East Asia. The event provides a good platform to the traders to showcase and sell their products as well as strike business deals.
Besides being an expo, the event is also a fair where handicrafts, handlooms and carpets are sold by Indian traders from the eastern region and South Asian nations.
According to Chinese officials, there are around 5,000 enterprises representing 89 countries and regions, taking part in the expo. Traders and businessmen from India, Afghanistan, Bangladesh, Bhutan, Maldives, Nepal, Pakistan, and Sri Lanka are taking part in the expo which will end on June 17.
Kunming, situated close to Myanmar, is the provincial capital of Yunnan Province of China and is the country’s gateway to South and South East Asia.
Last year, deals worth around $25.2 billion were signed at the expo. This year, the organisers are estimating that the volume could increase by around 10 percent, reported the official media.
In 2015, China's trade with South Asia increased 4.9 percent to $111.22 billion as compared to the previous year.
The bilateral trade between India and China stood at $65.16 billion in 2015 with trade deficit mounting to $48.68 billion in favour of Beijing.