China-Pak Cloud exhibition reached deal worth $2.94 million

ISLAMABAD, June 9 (INP): Deals worth $2.94 million were agreed at the 2020 Shandong Export Commodities (Pakistan) Online Exhibition, China, with 28 Pakistani enterprises being invited this May, China Economic Net reported on Tuesday.

The events industry has taken a massive hit as businesses continue to withdraw from planned events, so an online fair could provide bilateral trade opportunities for Pakistan and China’s enterprises through an accurate match and online negotiation.

Many of the companies involved took an active part in the cloud exhibition. For instance, staff form Linyi Dingyi Power Machinery Co,.Ltd.,China showed how to drive a mini-tractor via video in the exhibition, allowing Pakistani buyers to have a more intuitive understanding of the product, gaining recognition from many buyers, and nailing down a intended deal with LAL Group, Pakistan.

In addition, the products of Shifeng Group Co., Ltd., one of the leading companies of Chinese machinery industry, were presented in the opening ceremony.

The company held online negotiations with Ali Cooperation, a major agricultural machinery enterprises in Pakistan. According to Shifeng Group, they failed to pay a visit to Ali Cooperation because of the COVID-19 pandemic, but thanks to the cloud exhibition, the two companies reached consensus on a number of purchase and cooperation.

According to the event organizer Inter Commerce Expo (ICEC), China, a total of 84 enterprises from Shandong, China rolled in the exhibition, and 28 Pakistani buyers were invited to hold “one-on-one” negotiations through precise matching. Enterprises involved in production of electro-mechanical, hardware, building materials, and epidemic prevention materials, etc. have been invited.

As per a post-exhibition questionnaire, more than 90% Chinese companies involved spoke highly of the cloud exhibition, saying that the online exhibition demonstrated a creative way of engaging international business in a lockdown period due to the COVID-19 pandemic.

However, about a quarter of companies involved complained that customers and time involved for online negotiation were limited, so they hoped to invite more overseas buyers to attend the cloud exhibition, ICEC told China Economic Net (CEN). “We will develop more ties with trade associations, trade organizations and enterprises in Pakistan, and we are open to Pakistani participants. Our vision is to boost trade between the two countries,” the organizer noted.

INP/JAVED