Lebanon hopes to expand global market via 2nd China import expo: official

A total of 11 Lebanese companies will participate in the second China International Import Expo (CIIE) this year, hoping to broaden their market in China and the rest of the world, said Alia Abbas, general director of Economy and Trade at the Lebanese Economy Ministry.

"A few Lebanese companies are going with us to China to showcase their products and we hope that this will be the start of a success for Lebanon to increase its exports not only to China but to the rest of the world," Abbas told Xinhua in an interview.

The second edition of CIIE, scheduled for Nov. 5 to 10 in Shanghai, a Chinese financial hub, will enable the world to strengthen economic and trade cooperation, and to promote world economic growth.

Lebanon will occupy two locations during the 2019 expo, one for industrial firms and the other for services providers.

The expo will also host a Lebanese pavilion which will be open to the public for 10 additional days after Nov. 10.

It will mainly introduce Lebanon's tradition and civilization in addition to giving guidance about the country and its industries.

Abbas noted that the 11 Lebanese companies that will attend the annual Chinese expo include winemakers, olive oil producers, soap makers, canned food and nuts producers as well as travel agencies which will attempt to find partners at the expo.

"We hope that the companies participating this year will return to Lebanon with a few export contracts with China and other countries," she said.

China and Lebanon have been long trading partners. According to the Lebanese customs' statistics, China is Lebanon's largest source of imports.

However, Lebanon's exports to China are minimal.

"There are products that have good potential in China such as olive oil, which may help reduce a bit the imbalance in trade exchange between the two countries," the Lebanese trade official said.

The Lebanese Economy Ministry, in cooperation with the Chinese Embassy in Lebanon, launched a workshop for olive oil producers to inform them about the needs of the Chinese market and the criteria to export to China, she noted.

"The feedback about the workshop was very positive. Olive oil producers are now aware of the conditions and the procedures for exporting their products," Abbas said.

"China is a big market which means it may buy all Lebanon's olive oil production," she added.

The Lebanese official said she hoped to meet Chinese officials during the CIIE to discuss ways of activating the Belt and Road Initiative between Lebanon and China.