Philippine companies sold $124 million worth of sales in China’s first import expo, hitting twice the target earlier set by the Department of Trade and Industry (DTI). In a statement issued on Monday, DTI noted that it had exceeded its $50 million target sales at the first China International Import Expo (CIIE) held in Shanghai.
The expo only features foreign exhibitors, giving thousands of foreign companies a chance to sell to Chinese buyers. The total Philippine sales include $108 million of signed orders for various agricultural products such as bananas, avocados, and oranges. It also included $16 million of direct sales from exhibitors.
“This is a big win for Filipino companies — especially those in the agriculture industry — as we push for greater promotion of our fresh fruits category in China’s huge market,” said DTI Secretary Ramon Lopez.
“The figures exceeded our target sales for this participation, which was $50 million. But Philippine products, known to be of quality to foreign buyers, received overwhelming approval at CIIE,” the trade chief added.
Apart from this, there was also a 136-square meter Philippine national pavilion, which featured 10 partner government agencies and companies as well as 11 universities. DTI is looking forward to bringing a bigger delegation to next year’s CIIE. According to Lopez, DTI is eyeing to set up 100 booths for next year and to double its sales, targeting to bring a wider variety of local fresh fruits.
Source: Business Inquirer