Friday, April 19, 2024
BusinessTrade show hopes to draw USD 50 mln investors

Trade show hopes to draw USD 50 mln investors

China Trade Week (CTW), a trade show that hosts potential Chinese businesses, is expected to draw investors likely to invest USD 50 million when staged in Addis Ababa early July.

Michelle Meyrick, international events director at the Middle East International Exhibition (MIE), a group that organizes CTW series in many countries, told The Reporter Wednesday that the event would showcase quality manufacturers and investors from China who might be willing to invest in Ethiopia. Some 400 exhibitors from China and Ethiopia are expected to take part in the trade show to be held from July 4 to 6 at the Intercontinental Addis Hotel.

From previous experience that attracted some USD 35 million Chinese investment following CTW held in Kenya, Meyrick asserts that a similar outcome might follow the event in Ethiopia. In addition to the Kenya, Ghana, Morocco, Oman, South Africa and UAE series, CTW Ethiopia – which will be held annually here – is set to exclusively serve local businesses and help host Chinese makers showcasing some 4,500 types of manufactures. Power and energy, electronic appliances, construction materials, machineries, textile and garment, cosmetics, printing, packaging, farm equipment and the like are set to be exhibited.

Inspired by the ambitious “One Belt One Road” initiative, which China recently launched to create trans-boundary physical connection among countries, the trade show is believed to create a business and investment platform in Ethiopia as it did in the United Arab Emirates, Kenya and Iran, Meyrick said. In addition to that, the trade show is expected to tackle misconceptions some people have for products made in China. According to Meyrick, the notion of cheap and inferior quality of goods emanating from it is what many people in many parts of the world associate China with. But China is able to provide a range of products depending on the purchasing power of buyers, she argued. “The ability you have to invest on certain products from China will guarantee you the best quality. Hence, the trade show is also tasked to shed light on such perceptions,” she added

Established 16 years ago in UAE, the group is a specialized company that operates in the exhibition, trading and tourism sectors. For the first Ethiopian series, MIE has teamed up with Prana Promotion, a local trading and promotion company, which has been able to organize 24 sector-specific international trade shows in the past ten years in Ethiopia.

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