CAEXPO builds global business links
CAEXPO builds global business links
Business connections between Lao and Chinese traders are surging with the increase in Lao products displayed at the China-Asean Expo (CAEXPO) last week when more purchase orders were signed between Lao and Chinese companies, a senior trade official has said.
Speaking at the 10th CAEXPO in Nanning, China, Director General of the Ministry of Industry and Commerce's Trade and Product Promotion Department, Mr Somvang Ninthavong, said “We're not yet in a position to state the exact volume of sales but everything will soon be wrapped up.”
Mr Somvang, who is Secretary General of CAEXPO-Laos, led Lao companies taking part in the expo.
Prior to the expo, almost 100 Lao companies applied to be exhibitors, but only 55 were accepted. Laos was allocated 86 booths at the event.
Mr Somvang said processed wood products, handicrafts, herbal medicines, and drinks were the prime items of interest among Chinese buyers.
“The CAEXPO is a significant platform for trade connections and is a valuable learning experience for Lao business operators in the run-up to joining the Asean Economic Community in 2015,” he said.
One o f the Lao exhibitors at the expo was K & B Furniture. The company's Executive Manager, Mr Kongmala Phommalay, said they were displaying more than 50 decorativ e items worth US$200,000.
“This is the first year we have displayed such a wide variety of furniture and decorative products, and we've had quite impressive feedback.”
Mr Kongmala, who is Vice President of the Lao Furniture Association, said it was not only Lao furniture that was attracting Chinese customers but other goods as well.
While the main goal of the expo is to build business connections between China and Asean countries, it also serves to create linkages with other trading partners.
Another Lao exhibitor, Khamphaysana Group Manager Mr Vanpheng Somsana, said the expo was a great opportunity for Lao business operators to meet international customers and show them the unique products Laos has to offer.
“Our company sells wood crafts, which are receiving quite good feedback so we hope to come back here next year.”
Mr Vanpheng said improved product quality is essential to gaining entry to international markets so that Laos can benefit from being a member of the World Trade Organisation.
Each country participating in the expo also created a pavilion showcasing a designated ‘city of charm'. Laos' choice this year was Vientiane.
The pavilions also provided a wide range of information concerning tourism, investment and services offered by each country, aiming to attract tourists and investors.
vientiane times
