Economy

Fair focuses on China-Russia trade

By Wang Bian and Tian Xuefei (China Daily)
Updated: 2010-06-14 07:21

Sun Yao, vice governor of Heilongjiang.  Yong Kai / China Daily

The 21st China Harbin International Economic and Trade Fair (HTF) will be held from June 15 to 19, attracting more than 10,000 overseas and 100,000 domestic merchants.

"Over the past decades, the HTF has developed from a regional fair to a large scale international event with hundreds of thousands of attendees. It provides a chance for China to fully explore the diversified international market and is a major platform for regional cooperation in Northeast Asia," Sun Yao, vice governor of Heilongjiang province said.

With an aim to boost China's trade ties with Russia and enhance economic cooperation with northeast Asia, the fair, formerly called Harbin Trade Fair, was first launched in 1990, and now has welcomed 1.6 million domestic and foreign merchants from 80 countries and regions.

This year's fair, covering 86,000 sq m and accommodating 3,000 international standard booths, will stage 32 business activities, including Russian Business Day, Sino-Russian Matchmaking Conference, the first Heilongjiang-Taiwan-USA Agricultural Cooperation Seminar and Project Matchmaking Conference and the third Northeast Asia Regional Cooperation Development International Forum.

"China-Russia contract deals will again be a highlight of the fair, so far Russia's 22 states and regions have confirmed their attendance with over 60 booths," Sun said.

The fair will invite more than 1,000 Russian professional traders and purchasers. The Russian Federation Siberia Presidential Representative Office will organize buyers and sellers from 12 states and regions to attend the fair.

Other nations with participating traders include Belorussia, Kazakhstan, Germany, France, Belgium, Hungary, Poland, Romania, Brazil, United Arab Emirates, Australia, Japan, South Korea, the DPRK and Malaysia, which together have confirmed over 190 booths.

During the first quarter of this year, Heilongjiang's trade with Russia saw a year-on-year growth of 1.6 percent, representing a final turn around after a 14-month decline.

The province is the most important in China regarding trade with Russia, and its trade with the country accounts for a large proportion of its overall foreign trade.

A priority

In order to revitalize the once-booming Heilongjiang-Russia trade the local government is looking for new ways to enhance the two countries' economic cooperation.

"The outdated trade pattern, the lack of regional cooperation, as well as Russia's changing trade policies after the global financial crisis hindered further development of Heilongjiang's trade with Russia," Sun said.

"Change should be made by the authorities to promote exports of its advantageous products, such as machinery, furniture and electronics, to Russia," he said.

Heilongjiang is a bridge for the whole nation's trade with Russia, allowing more cutting-edge China-made products to be sold to Russia via the province.

According to Heilongjiang authorities, their focus in Heilongjiang-Russia trade has shifted from trade cooperation to investment cooperation. Forms of trade are also expanding from mere commodity trade to trade of technologies and services.

Local authorities are also planning to implement large-scale investment projects in both Heilongjiang and Russia which will bring benefits for both sides.

The Suifenhe Bonded Zone, currently under construction, is expected to become a trial free trade area between China and Russia.

Due to a raft of preferential policies provided by both China and Russia, the zone is expected to attract many businesses from both countries to invest in manufacturing, processing and trade operations there.

As a result, the city predicts its foreign trade volume will increase 15 percent this year from 2009.

"With the huge potential market in Russia, many Chinese exhibitors are optimistic about trade with Russia," Sun said.

Foreign exhibitors talk with Chinese volunteers during the fair. Guo Junfeng / For China Daily

A forum on Heilongjiang is held at Shanghai World Expo on June 8. Yong Kai / China Daily

Heilongjiang enterprises showcase their state-of-the-art products. Wang Cheng / for China Daily

(China Daily 06/14/2010 page6)