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Singapore-Ningbo Commodity Fair opened

The 3rd Singapore-Ningbo Commodity Fair opened in Suntec Singapore International Convention and Exhibition Centre on July 20. With the official establishment of the China-ASEAN Free Trade Zone, the fair this year aims to help enterprises of Ningbo explore the ASEAN markets.

Like China Fair in Benin, the Singapore-Ningbo Commodity Fair is a second large fair Ningbo organized in a foreign country. This is a step Ningbo takes to help the enterprises of foreign trade to seize opportunities in the China-ASEAN Free Trade Zone, and Singapore has given lots of help to Ningbo's endeavor. With over 180 stalls, the Singapore-Ningbo Commodity Fair was participated by over 200 representatives from 115 enterprises. There are over 1,000 varieties of commodities of household appliances, household goods, gifts and food exhibited on the fair. It attracted quite a number of merchants from Singapore, Indonesia, Malaysia and Thailand and the intent purchases value over 2.6 million US dollars.

It is learned that with the progress of the China-ASEAN Free Trade Zone zero tariff has been implemented for over 7,000 varieties of commodities and this to a great extent has promoted the trade between Ningbo and the ASEAN countries and the free trade of goods has been basically realized. In the first half this year, the value of the bilateral trade of Ningbo and the ASEAN reaches 3.29 billion US dollars, increased by 41.5% above the same period of the previous year, covering 7% of the export of Ningbo in the period. The ASEAN has become Ningbo's fifth largest trade partner.

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