JEDDAH, 16 June 2006 — A delegation of Chinese businessmen said here yesterday that their current visit has helped them to study the prospects for investment, and the expansion of joint ventures and trade.
Some of the 300 members of 149 Shanghai companies, whose four-day China Products Fair ended at the Jeddah International Exhibition and Convention Center last night, said their one-to-one meetings with local businessmen at the JCCI and also at the fair were fruitful.
“It was a rewarding experience for all of us and we find the bilateral investment and trade prospects bright,” Khalid Bai, network department manager at the Shanghai International Advertising & Exhibition Co. Ltd., said speaking on behalf of the delegation. Dozens of tables were laid out at the JCCI where the visiting businessmen briefed their local counterparts about their capability in manufacturing products.
“Yes, there has been some doubt among local business circles about the quality of our products, but the exhibition and the interaction at the chamber have helped a lot in removing such misconceptions,” Bai said. The delegation represented various manufacturing sectors include equipment and machinery, consumer products building materials, electronics and information technology, textiles and garments, food products and a range of novel gift items.
“Some delegation members are ready for contracts and maybe they will succeed in signing them during the current visit,” said Xiao Jie Tang, president of Orient International (Holding) Co. Ltd.
The visit of Custodian of the Two Holy Mosques King Abdullah to China late last year and the visit exchanged by Chinese President Hu Jintao recently have paved the way for further strengthening the trade and economic links between the two countries, Tang said.
“The delegation this time is bigger than what it was two years ago when Chinese businessmen visited Riyadh. This time, our members represent a wide range of products,” Tang said, adding that some local entrepreneurs have evinced interest in starting joint venture manufacturing plants here.
The two-way trade stands at $16 billion, with the Kingdom’s exports accounting for $12 billion to China, according to Chinese Consul General Chang Yi. For the first time, Chinese exhibitors have showcased cars and their manufacturers are looking for local agents for distribution.
Representatives of the Shanghai-based investment developing companies said that they find the prospects for investment bright among Saudi businessmen and their counterparts in China. “The prospects are fabulous in both countries,” one of them said.
Zhang General of the Shanghai Dafang Packing Products Co., Wang Dexiang of Shanghai Yu Yuan and Ting-Hua Lu Leuis, CEO of Hi Tech Aqapure Technical (Shanghai) Co. expressed similar sentiments and hoped to return to the Kingdom in due course for further negotiations.