Business / Industries

Weihai food expo ends with billion-yuan deals

By Zhao Ruixue in Weihai ( Updated: 2016-06-20 15:40

An expo featuring food and food-processing products from 10 countries and regions that ends Monday at Weihai, Shandong province, has seen 1.51 billion yuan ($229.58 million) worth of deals, according to the commerce bureau of Weihai.

More than 400 enterprises from countries including Belgium, Chile,South Korea, Japan, Malaysia and Russia showcased aquatic and agricultural food, alcohol and beverages, food packages and food-processing machines at the four-day expo.

Cashing in on the China-South Korea free trade agreement (FTA) officially signed on June 1, 2015, the expo staged a special hall for South Korean enterprises showcasing their commodities, such as cosmetics and maternal and infant care products, as well as household appliances.

“Thanks to the China-South Korea FTA, I came to China for the first time to look for potential cooperation. I think there will be a huge potential as many visitors have come to my stand and shown interest in my products,” said Sang Tae Kim, representative director of South Korean company Sweet World Sale Co Ltd.

“The number of my clients has doubled during the past one year since the China-South Korea FTA signed last year,” said Li Dongcai, a sales manager of Shandong Shindadong Co Ltd, a company based at Weihai that focuses on selling South Korean products.

Statistics from the commerce bureau of Weihai show Weihai imported $130 million worth of food and commodities from South Korea last year, a year-on-year increase of 42.9 percent.

The growth continues this year. The city bought $50.58 million worth of food and commodities from South Korea during the first four months, a year-on-year increase of 44.5 percent.

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