Korea International Trade Association Vice Chairman Oh Young-ho, second from right, shows buyers around the “Big Buyer Exhibition” at COEX in southern Seoul, Thursday. / Courtesy of KITA

By Kim Hyun-cheol, Staff Reporter (Korea Times) – Around 150 buyers from 100 global companies visited South Korea to attend a joint fair to promote Korean goods, which kicked off Thursday, according to the Korea International Trade Association (KITA).

The two-day event ― “Export to China, Export to the World 2009/2010” ― is being held at the COEX Mall in southern Seoul.

KITA teamed up with China’s Alibaba.com, the world’s largest business-to-business online marketplace, to offer opportunities to market products from Korean small- and medium-sized enterprises (SMEs).

Participants in the fair include 12 of the world’s 500 biggest companies selected by U.S. magazine Fortune, such as Walmart, Levis, Nestle, Best Buy and French-based international retail group Auchan.

Some Chinese conglomerates are also taking part in the exhibition, including the Vanguard Group, China’s No. 1 retail chain.

The fair is part of the joint program between KITA and Alibaba.com, which will run for a year, and aims to give Korean SMEs a better chance to export their products and open up new markets for them in China and other overseas destinations.

Also as part of the program, Alibaba.com opened a channel featuring products from Korean suppliers, the third specialty country channel launched on their Web site following China and India.

KITA estimates contracts valued at $440 million will be signed at the fair. – read more at The Korea Times…

Two foreign customers look at Chinese motorcycles at the 106th China Import and Export Trade Fair, or Canton Fair.

By Ding Qingfen (China Daily) – While the economies of the United States and Europe are still recovering, Chinese companies and exporters are turning to emerging markets to divert possible risks.

The China Import and Export Fair, better known as the Canton Fair, is the country’s largest export platform.

The fair, under way through Nov 4 in Guangzhou, is among venues helping local exporters connect with buyers from South America, Africa and the Middle East.

Tianjin Jinmao Group Co Ltd, China’s largest home equipment and tool provider and exporter, began to feel the pinch of a rapid decline in exports to the US and Europe late last year.

The two regions make up Jinmao’s top two overseas markets, with the US accounting for 50 percent and Europe 30 percent of its sales abroad.

But the financial crisis also served to help the company find new niche markets.

“Surprisingly, Australia is the only market that has been growing despite the global financial tsunami,” said Sunny Yen, vice general manager of Tianjin Jinmao Group.

While sales from the US and Western Europe dipped by “over 20 percent” during the first eight months of this year, sales from Australia rose by “28 percent”, Yen said.

Li Jie, Jinmao’s president, led a team to Australia last month to visit old clients and establish new contacts.

“For years, the US and Europe were the only targets of Jinmao. Australia was always neglected, but now things are different,” Yen said. read more at ChinaDaily.com…

See earlier article: Canton Fair booths brimming with bustle

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SINA News reports that enthusiasm spread to Chinese exporters yesterday as they appeared more upbeat about sales and orders handled during this autumn’s Canton Fair, hoping to get a leg-up on this year’s overseas exports.

The 21-day Canton Fair, also known as the China Import and Export Fair, is the world’s largest fair by floor area and starts one day after China reported surprisingly good trade figures.

Exports from China fell in September by 15.2 percent compared to the same period last year. Forecasters expected a 21 percent fall. The report suggested global demand is improving.

Compared with the fair held in April, where economies of the United States and Europe were deep in a quagmire, this Canton Fair is much busier, with slews of foreign purchasers flocking into the exhibition halls on opening day and exhibitors brimming with smiles and busily receiving them. read more…