China's largest trade fair in the Middle East to be held at Expo Centre Sharjah from Nov 26

Jointly sponsored by the Ministry of Commerce of the People's Republic of China, and the Sharjah Chamber of Commerce and Industry, and organised by Chinamex, the CCFS will be in its fourth edition this year.

The five-day solo country event will host over 1000 reputed Chinese enterprises from more than 30 provinces and municipalities of mainland China, Hong Kong and Macau.

Among the industries that will be represented at the Fair are machinery, engineering, electrical, light industry equipment, textile, and building material among others.

"The CCFS, which is China's largest trade event in the Middle East region, is considered to be a major booster in trade relations between China and GCC states in general and the UAE in particular," said Mr. Mohammed Salem Al Mosharrekh - Board Member, Sharjah Chamber of Commerce & Industry, at a media briefing on the forthcoming CCFS at Expo Centre Sharjah on Monday.

"After three very successful editions, the CCFS has established itself as not only the largest but also the most cost effective and accepted platform in the Middle East region for sourcing of Chinese products and services. It is also an ideal event for UAE businessmen to explore investment potential in China and vice versa," he added.

The CCFS in 2004 had witnessed the display of numerous Chinese products and services as well as the signing of several important deals between companies from the Middle East and China.

The event had generated business in excess of US $ 336 million. Of this, the total value of the actual contract signed amounted to US $ 86.57 million whereas the amount attributed to intention for cooperation was in excess of US $ 249.7 million.

Bilateral trade between the GCC states and China has been witnessing a steady increase over the last couple of years. In 2003, the trade volume hit a record high of US $ 16.9 billion, up 46 per cent from 2002.

As far as bilateral trade between UAE and China is concerned, it currently stands in excess of US $ 8 billion p.a and is estimated to reach US $ 10 billion p.a by the end of year 2005. China's main exports to the UAE are textile, clothes, light industrial products, products made from gold, silver, copper, iron and tin, handicrafts and machinery. China's imports from the UAE include aluminium ingot, chemical fertilizer, petroleum and polythene. The UAE is China's second largest trade partner in the Gulf after Saudi Arabia.

There are over 500 Chinese companies operating in the UAE at present.

"Despite a total population of 30 million, the GCC market is considered lucrative across the globe. This is due to its huge oil wealth, strategic location, and investor friendly policies," said Mr. Fasahat Ali Khan, Acting Director General, Expo Centre Sharjah.

"At present, China is GCC's fourth largest trade partner after the EU, Japan and the US. However, given that the current trade volume represents only 2 per cent of China's total foreign trade, which is unmatched with the nation's colossal market, it is only but obvious that the GCC wishes to further expand trade cooperation with China. The CCFS is a manifestation of that wish," Mr. Khan said.

"Another reason for the region's growing interest in the Chinese market is that post-war, Iraq has been increasing its crude oil supply. As a result, the GCC states have been losing some of its tradition oil export markets. Against such a backdrop, China's steep rise in oil demand due to its rapid economic growth has caught the attention of the GCC states," said Mr. Khan.

China, at present, has oil deals with only three GCC states. In 2003, China imported over 10 million tons of crude oil from Saudi Arabia, 70 million barrels from Oman, and about 2 million tons from Kuwait.

The CCFS 2005 will be open from 10 am to 1 pm for trade only and from 5 pm to 9 pm for both trade and public. Children below 16 years will not be allowed.