(Yicai Global) May 29 -- China's trade with Central and Eastern European countries has great development potential, though the trade volume between China and 17 Central and Eastern European countries makes up only 13 percent of that between China and the EU countries, it has grown by leaps and bounds in recent years.
Li Chenggang, Assistant Minister of Ministry of Commerce, or MOFCOM, said this today at a press briefing on the eve of the first China-Central and Eastern European Countries Expo, as a press release posted to MOFCOM's website states.
The expo scheduled to convene in the port city of Ningbo, Zhejiang province from June 8 to June 12 will host 2,000 overseas guests from international organizations, multinational corporations, research institutes, civil society and buyers.
Central and Eastern European countries demand equipment manufacturing industry upgrades, and China's production equipment making occupies the terminal end of the global industrial chain with a high price–performance ratio, and so great complementarity exists between the two sides. High-quality processed agricultural products such as rose oil, amber, crystal and beer from Central and Eastern European countries that now enter China hold value advantages over similar imports and have won recognition from Chinese consumers, Li said.
Slovenia, the Czech Republic, Slovakia, Bosnia and other Central and Eastern European countries have a long history of winter sports, he said, and China hopes that it can exploit the Beijing 2022 Winter Olympics as an opportunity to cultivate this sector as a new growth point with Central and Eastern European nations cooperating in winter sports training, equipment and facility construction, and the sports equipment trade.
Editor: Ben Armour