China-CEEC Forum to foster economic ties with Eastern Europe

The city of Ningbo, Zhejiang province will host the first China-CEEC Investment and Trade Expo from June 8 to 12 in a bid to strengthen China's economic belt with central and east European (CEE) countries.

Ningbo city has already started preparations for the Expo, including choosing the logo and mascot and setting up the official website (http://ceec.cicgf.com).

"Situated on an area of 10,000 square meters, the scale of the exposition is larger than last year's. To date, a string of countries such as Bulgaria, Poland, Croatia and Montenegro have expressed interest to attend the expo," said Yu Danhua, the general director of the committee of China-CEEC Investment and Trade Expo.

The exposition will have trade fairs, product exhibitions, business and mayor forums and cultural activities. Moreover, the organizers will also hold a CEE specialty products fair, aiming at domestic buyers in China. In 2014, a similar fair was attended by a total of 180 enterprises from 16 CEE countries, exhibiting hundreds of different products such as wine, honey, handicrafts and cosmetics. Nearly 3,500 Chinese firms showed interest in the fair.

In addition to strengthening the trade and investment cooperation between China and CEE countries, the CEEC Expo offers a platform for Zhejiang companies that aim to go global.

"Although Ningbo enjoys a prosperous private economy and substantial foreign investment, the trade cooperation with the CEE countries is relatively inactive. But in recent years, more and more Ningbo enterprises are willing to look for more commercial opportunities in CEE countries thanks to favorable human resources of those countries.", said Chen Weirong, the director of Overseas Investment Administration Office at Ningbo Commission of Commerce.

In 2014, the total volume of Ningbo's imports and exports with Central and East European countries amounted to $2.443 billion, up by 7.6 percent over the previous year.

By the end of 2014, Ningbo approved 72 foreign investment projects by enterprises from 16 CEE countries, with a total contractual value of $156.21 million. During the same period, a total of 34 Ningbo enterprises were given go-ahead to invest in 16 CEE countries with total investments of $20.37 million.

The CEEC Expo will help deepen the trade and investment cooperation between the two sides. Clothing, home appliances, shipbuilding and manufacturing are strong sectors in Ningbo. The CEE countries have advantages in agricultural and farming industry, especially animal and food products. Through diversified activities like trade fairs, product exhibitions and cultural activities, Ningbo and Central and Eastern European countries can draw on each other’s strengthens and expand business relations.

http://www.chinadaily.com.cn/m/ningbo/2015-04/15/content_20442645.htm