Middle East-China Trade Expected to Top $100 Billion by 2010
HONG KONG, May 8 /Xinhua-PRNewswire-FirstCall/ -- Global Sources
(Nasdaq: GSOL) expects the launch of Dubai's largest trade show for finished consumer goods from China suppliers, China Sourcing Fair: Gifts & Home Products ( http://www.chinasourcingfair.com ), to further strengthen Middle East-China trade. The Chinese government has targeted $100 billion in total trade with the Middle East by 2010 -- up from $51.3 billion in 2005. According to United Arab Emirates ambassador to China Mohammed Rashid Al-Bout in Beijing, China's trade with the United Arab Emirates alone grew 31.5 percent in 2006 to $14.2 billion.
(Logo: http://www.prnasia.com/sa/200703271450.JPG )
"Dubai is the world's third largest re-export hub after Hong Kong and Singapore," Global Sources' chairman and CEO, Merle A. Hinrichs, said. "In 2005, China supplied 48 percent of all footwear, headwear, umbrellas and artificial flowers that flowed through Dubai's free trade zones."
Dubai's China imports range from electronics and home products to fashion accessories and children's toys. Dubai Department of Ports and Customs 2005 data shows:
-- 17 percent of all Dubai imports came from China in 2005
-- Average annual growth rate of imports from China since 1997 was
14 percent
-- 37 percent of Dubai's textile imports came from China, while China
exported 29 percent of its textiles to Dubai
-- 41 percent of Dubai's furniture, toys and sports products came from
China
The same source shows Dubai's top consumer product imports from China in 2005 were: Fabrics, $298 million; Radios & Audio, $86 million; Bags & Luggage, $77 million; Footwear, $72 million; TV, Video Monitors, $69 million; Toys, $57 million; Men's/Boy's Clothing, $54 million; Video Recording Equipment, $52 million; and Kitchen & Household, $48 million.
Hinrichs said: "Mainland China, Hong Kong and Taiwan suppliers have jumped at the opportunity to meet buyers face-to-face in Dubai at the China Sourcing Fair. Likewise, Middle East buyers we've spoken with at our Hong Kong shows and our exhibits at China, Europe and US shows are delighted with the opportunity to source from quality China suppliers in the convenience of Dubai."
China Sourcing Fair: Gifts & Home Products is scheduled for June 11-13, 2007 at the Dubai International Exhibition & Convention Centre.
Products on display will include: Gifts & Premiums; Toys; Electronic Premiums; Bags & Luggage; Health & Beauty Products; Kitchen & Household Products; Home Decor; Home Textiles; Ceramics & Porcelain; Decorative Lighting; and, Electrical Appliances.
Special pavilions for Consumer Electronics, Fashion Accessories and Baby & Children's products will be featured.
Buyers planning to attend the Dubai China Sourcing Fair: Gifts & Home Products may find more information, including discounted hotel rates, at http://www.chinasourcingfair.com/dubai. Qualified buyers who pre-register are entitled to receive free admission to the event.
Specialized Global Sources trade magazines, websites and China Sourcing Fairs
The China Sourcing Fairs are an important part of Global Sources' sourcing and product information services, which include Global Sources trade magazines, Global Sources Online ( http://www.globalsources.com ) and Global Sources Direct ( http://www.globalsourcesdirect.com ). Further information about Global Sources is available at http://www.corporate.globalsources.com .
About Global Sources
Global Sources is a leading business-to-business (B2B) media company and a primary facilitator of two-way trade with Greater China. The core business is facilitating trade from Greater China to the world, using a wide range of English-language media. The other key business segment facilitates trade from the world to Greater China using Chinese-language media.
The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 600,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 230 countries.
The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 1.8 million products and more than 150,000 suppliers annually through 13 online marketplaces, 12 monthly magazines, over 100 sourcing research reports and nine specialized trade shows which run 22 times a year across seven cities.
Suppliers receive more than 13 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.
Global Sources has been facilitating global trade for 36 years. In mainland China it has over 1,700 team members in 44 locations, and a community of over 1 million registered online users and magazine readers for
Chinese-language media.
Global Sources Press Contact in Asia:
Camellia So
Tel: +852-2555-5021
Email: cso@globalsources.com
Global Sources Investor Contact in Asia:
Eddie Heng
Tel: +65-6547-2850
Email: eheng@globalsources.com
Global Sources Press Contact in U.S.:
James W.W. Strachan
Tel: +1-602-978-7504
Email: strachan@globalsources.com
Global Sources Investor Contact in U.S.:
Moriah Shilton & Cathy Mattison
Lippert/Heilshorn & Associates, Inc.
Tel: +1-415-433-3777
Email: cmattison@lhai.com
