Event offers an opportunity for enterprises to better connect with international market

Domestic and overseas enterprises and organizations in the marine industries that strive to expand their market and customer base were looking to the 2016 China Marine Economy Expo for opportunities, believing the event would help them to better connect with international markets.

At the Thailand Pavilion, Kornpreeyanut Kanphatcharakan, managing director of Chiangmai-based Prempracha Transport Co Ltd, was promoting her company's products to visitors.

"We extended our business from mainly transportation to tourism last year. However, we are facing difficulties in stepping into the Chinese market because of language and market barriers," she said.

A foreign business rep introduces items to a visitor at the 2016 China Marine Economy Expo. Qin Danyan / For China Daily

More than 2,300 exhibitors from 53 countries and regions attend this year's event. Qin Danyan / For China Daily

"The expo offers an opportunity. Through our exhibition at the expo, tourists from Zhanjiang and other parts of China will gain more knowledge of our company and services, facilitating our expansion in the market."

The expo was held in the coastal city of Zhanjiang in Guangdong province from Nov 24 to 27. The annual event, with its first session held in 2012, is a platform for enterprises, organizations and industry insiders from all over the world to showcase their latest achievements, make exchanges and seek cooperation opportunities.

More than 2,300 exhibitors from 53 countries and regions attended this year's event, including 329 overseas enterprises and organizations. Thailand, as the guest of honor of this year's expo, brought a delegation of over 40 enterprises and associations. More than 20 enterprises from Malaysia also took part in the event.

Zhanjiang Mayor Wang Zhongbing said the expo plays an important role in promoting marine economic trade, marine science and technology, marine equipment, marine culture and tourism.

He said the city will further increase investment in Association of Southeast Asian Nations member countries and promote economic cooperation in industries such as fishing, aquaculture and architecture.

Ruzlisham Bin Mat Diah, investment consul of the Malaysian Investment Development Authority, a government body with the aim of promoting investment between Malaysia and China, said there are great business opportunities that can be explored between Zhanjiang and Malaysia. For example, Zhanjiang is known for its marine products and Malaysia has a number of food processing enterprises.

"We hope to take advantage of the expo to attract more Chinese marine businesses, hoping to invest in Malaysia in the aquaculture sector. We can offer a lot of land for Chinese enterprises to do business there," he said.

He added that two local enterprises in Zhanjiang have shown interest in investing in Malaysia, and that they are in the process of negotiations.

Economic cooperation between Zhanjiang and other countries has seen considerable growth over recent years, especially with ASEAN countries. According to official statistics, bilateral trade between Zhanjiang and ASEAN countries reached nearly $800 million in 2015, almost doubling the figure for 2011.

Apart from foreign enterprises, a number of domestic firms also placed high expectations on the expo, saying the event could facilitate the implementation of their "going out" strategy.

One of them is the Metallurgical Corp of China Ltd, or MCC, a large State-owned enterprise focusing on iron and steel construction. The company is the contractor for Singapore's Universal Studios and Shanghai's Disneyland Resort.

Hao Tingyu, an official at MCC's central research institute of building and construction, said MCC's growth strategy centers around developing overseas markets.

"Attending the expo would help us to better know market demand while making our company better known to the public," he said.

According to organizers, 2,033 domestic firms and organizations took part in the expo this year, a 32 percent increase from last year. Among them, 22 are in the Fortune Global 500 or are large SOEs, and 52 are listed companies, including Baosteel Group, China National Petroleum Corp and China Southern Airlines.

With an exhibition area of more than 100,000 square meters, the expo has a number of pavilions, including those for domestic and international exhibitors and others for equipment manufacturers. In addition to the exhibition, the four-day event also featured several forums on maritime economies, a project roadshow for maritime equipment makers and the debut of the new China Ocean Economic Development Index.

sally@chinadailyhk.com

(China Daily 11/29/2016 page22)