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China-CEEC trade booming with bright prospects

2021-06-11 15:55:44 Xinhuanet.com

As a stage to promote economic and trade cooperation between China and CEECs, the second China-CEEC Expo & International Consumer Goods Fair was held in Ningbo.

As a stage to promote economic and trade cooperation between China and Central and Eastern European Countries (CEECs), the second China-CEEC Expo & International Consumer Goods Fair was held in Ningbo, east China's Zhejiang Province.

The four-day event, which kicked off on Tuesday, attracted some 300 enterprises from CEECs and more than 7,000 buyers.

The expo is becoming a trade propeller between China and CEECs, providing opportunities for exhibitors and buyers from home and abroad.

On Wednesday, business talks were held between two Romanian enterprises and their Chinese counterparts via an online meeting at Ningbo International Convention and Exhibition Center.

"Although the pandemic prevented many Romanian enterprises from coming to the expo, it does not dampen their enthusiasm for the Chinese market," said Robert Mitrofan with UPR Business Romania, who took part in the meeting.

Bringing with them commodities like wine, mineral water, and snacks, the enterprises are queuing up for online negotiations with Chinese buyers, he said.

At a signing ceremony, 26 purchase deals worth nearly 2.19 billion yuan (about 342.71 million U.S. dollars) were signed, involving Chinese importers from Shanghai, Zhejiang, Shandong, and Hunan.

The deals cover products like frozen beef, dairy products, copper, timber, car parts and turbines.

China and CEECs have witnessed accelerated trade growth since the establishment of the China-CEEC cooperation mechanism in 2012.

Trade between the two sides grew at an average annual pace of 8 percent from 2012 to 2020.

Trade between China and CEECs jumped 50.2 percent year on year to 30.13 billion U.S. dollars in the first quarter of 2021, data from the Ministry of Commerce (MOC) showed.

China and CEECs deepened cooperation in a wide range of fields. To date, two-way investment has reached nearly 20 billion U.S. dollars. More than 12,400 China-Europe freight train trips were made in 2020, a year-on-year increase of 50 percent.

The potential of the Chinese market and the optimized business environment have injected more impetus and vitality into China-CEEC economic and trade cooperation.

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