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Xiamen to enhance BRICS' ties with global trade fair in September

By Jing Shuiyu | | Updated: 2017-03-29 14:17

The 2017 China International Fair for Investment & Trade (CIFIT) will take place during September 18 – 21 in Xiamen, with a number of networking events tailored for BRICS countries and economies linked to the Belt and Road Initiative, said its organizers on Wednesday.

The annual fair is a key international platform with the purpose of promoting two-way investment with the world's second largest economy.

As the southeast city will host the 9th BRICS Summit in early September, its deputy mayor Han Jingyi, said one of the fair's major goals is to promote economic cooperation and exchange among global investors and members of the so-called BRICS club – Brazil, Russia, India, China, and South Africa, by setting up specialized pavilion, seminars and networking events.

Han made the remarks at a networking conference on Wednesday, which attracted more than 250 businessmen and government officials from both home and abroad.

Another eye-catching innovation of the 2017 CIFIT forum, according to Han, is planned around the Belt and Road Initiative. About 30 to 50 countries and regions along the two trading routes were invited to the event.

Georgia has confirmed to be the guest of honor of this year's CIFIT. Located at the crossroads of Western Asia and Eastern Europe, the country is considered to be a key gateway along the Belt and Road economies.

The exhibition space will cover 100,000 square meters, including 4,300 booths set up for cross border investment, according to the committee.

The four-day fair is expected to welcome overseas visitors from government institutions, investment promotion agencies and multinationals from more than 100 countries and regions, as well as over 50,000 business professionals and government officials from over 300 cities in China.

Sun Zhenyu, former vice-minister of the Ministry of Commerce, said on the conference that as one of the most important investment platform, CIFIT forum has witnessed the fruits of reform and opening up for decades.

Data from the Ministry of Commerce showed China outbound direct investment surged by 44.1 percent year on year to $170 billion in 2016.

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