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UPDATED: October 31, 2007 Web Exclusive
ASEM Trade & Investment Fair on SMEs Kicks Off in Qingdao
The ASEM Trade and Investment Fair on SMEs kicked off on October 29 at the Qingdao International Convention Center, in east China's Shandong Province
By CHEN RAN
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The Asia-Europe Meeting (ASEM) Trade and Investment Fair on Small- and Medium-sized Enterprises (SME) kicked off on October 29 at the Qingdao International Convention Center, in east China's Shandong Province.

The four-day event is the first important activity of this kind among SMEs in the trade and investment field since the establishment of the ASEM in 1996. Some 10 ministers from the ASEM, in charge of Economic Affairs, led delegations attending the Fair, while commercial sections of foreign embassies in China also gathered in Qingdao.

The Fair is organized by China's Ministry of Commerce, the National Development and Reform Commission (NDRC) and the Ministry of Foreign Affairs, and cosponsored by eight countries including Cyprus, Germany and Greece.

Highlighting the theme "Promoting SMEs' Trade and Investment in Asia and Europe", the Fair features exhibitions, investment policy briefings, as well as forums for both exhibitors and visitors. Over 700 companies, domestic and foreign, have reserved over 1,000 booths; their products range from health care, textile and garments, arts and crafts, to electronic information technology and electronic home appliances. Business commissions from Malaysia, Singapore, the Netherlands, etc. attended the International Procurement Meeting, one of the key activities of the Fair.

Other featured activities are the Investment and Financing Project Meeting, Release Conference of New Products and New Technology Projects, and Briefings on Asia-Europe Tourism Promotion.

The ASEM Business Leader Forum and Growing Enterprises Development Summit is scheduled to be held during the Fair. Senior officials from ASEM, representatives of Fortune 500 and famous domestic companies, as well as those from SMEs, will attend the forum. The topics will cover new opportunities for co-operation between Asian and European enterprises, management and innovation of well-known brands, SMEs' loading methods, and growing enterprises' financial model, etc.

This theme forum, according to Yao Shenhong, spokesperson of the Ministry of Commerce, aims to address real problems faced by SMEs on the one hand, and on the other hand provide a platform for communication and cooperation among ASEM members, business people as well as government officials. Suggestions for the development of SMEs will be solicited, and a report submitted to the ASEM SME Ministerial Meeting to be held in Beijing on October 30.

Other forums, such as the ASEM SMEs Investment Forum and Investment Matchmaking Meeting, the Environmental Protection Forum, the Technical Project Exchange Conference, etc, will also be held.

The Fair, according to Cui Weidong, Deputy Secretary-General of the Qingdao Government, is promising to the future of the city.

"We are the co-host city of the sailing event in the 2008 Beijing Olympic Games," he said. "The preparation for the Olympics is a great leap forward for the development of the city. The Fair will definitely boost the local exhibition industry, as well as present Qingdao to the whole world."

Background

The ASEM was established in 1996 with the aim of strengthening political dialogue, economic cooperation and cultural exchange between Asia and Europe. Currently, ASEM has 45 members, comprising 10 ASEAN nations, 27 EU nations, countries like China, Japan, South Korea, India, Pakistan, Mongolia, as well as the European Commission and ASEAN Secretariat. The combined population and GNP of ASEM members account for over 50 percent of the world total. The ASEM Trade & Investment Fair on SMEs was proposed by Chinese Premier Wen Jiabao in 2004, and endorsed by all ASEM members at the 6th ASIA-EUROPE Meeting held in Helsinki, in September 2006.



 
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