China hosted the Shanghai Cooperation Organization Summit last weekend. And part of the series of events that’s happening in line is the SCO Import Commodity Fair. The event aims to be a platform which allows member states to trade and set up new channels for businesses.
It’s the first trading event under the framework of the Shanghai Cooperation Organization. The SCO Summit concluded in Qingdao on June 10, bringing together 57 companies from 17 nations. All of them come with products unique to their countries, trying to tap into the potential of the huge market in China.
China has been keeping close trade relations with all neighboring countries under the framework of SCO. The trade volume between China and other SCO members reached $217.6 billion in 2017, a 19 percent increase from a year before.
This import commodity fair is another effort by the host city Qingdao to expand trade relations with other SCO members, giving local consumers a rare opportunity to buy imported goods close to home.
Experts say the four day event won’t be long enough for exhibitors to present all of their products, but they add that it allows them to feel the potential of the market under the framework of SCO.
All exhibitors at the fair expressed their willingness to get more involved in the SCO market. After all, the member countries of the SCO cover a population of 3 billion people, a market that no one wants to miss.