SYDNEY - Representatives from six major Australian businesses on Thursday inked contracts in New South Wales (NSW) state capital Sydney to take part in the China International Import Expo (CIIE), as part of a signing ceremony in the runup to the global event that has attracted more than 1000 Australian enterprises so far, according to organizers.
The inaugural import expo, which will be held in Shanghai from Nov 5 to 10, aims to further open the Chinese market in line with the mutual benefits of maintaining free trade and open economies, involving products and services worth more than $10 trillion in the next five years.
"Initiated by Chinese President Xi Jinping, the CIIE is meant to provide a platform to share China's growth, development and opportunities with the rest of the world," Commercial Counselor at the Consulate-General of China in Sydney Wang Hongbo said.
New South Wales Trade and Industry Minister Niall Blair said he was excited about the opportunity presented by the expo. Australian companies that signed the participation contract include health supplements maker Blackmores and food group Kilcoy Global Foods.
"As a government, we are well behind our businesses and make sure we are getting as many of our businesses across to the expo as possible," Blair said.
"I will continue to raise the profile through our local contacts here ... We want to be able to showcase what we can do here in NSW."
"The contracts will open a new door of collaboration, not just for the CIIE itself, but also to start a new page for collaboration, especially the areas that China and Australia have identified as priority sectors," Wang said.
The expo is important to demonstrate how collaboration can benefit all parties involved in trade and set an example for others to follow, she said.
"The CIIE showcases the fact that, in trade and investment, one's import is the other's export, so they are two sides of the same coin.
"We work together to continue to safeguard our multilateral trading systems and to show that being partners is always better, creating maximum benefits in a more balanced way," she said.