Erenhot commerce fair sees $1 billion in trade

(chinadaily.com.cn)

Updated: 2016-09-06

On Sept 3, the 2016 China-Russia-Mongolia Economic and Trade Fair began at the International Exhibition Center of Erenhot, Inner Mongolia autonomous region.

The next day, the total trade and cooperation agreements hit 6.43 billion yuan ($963 million), according to the vice mayor of Erenhot.

The fair is sponsored by the China Council for the Promotion of International Trade (CCPIT), the People's Government of Inner Mongolia, the Industry and Commerce Chamber of Mongolia, the Chamber of Commerce and Industry of the Russian Federation, and many bureaus and organizations.

During the five-day event, over 400 enterprises and 2,000 businessmen from China, Mongolia, Russia, South Korea, India, and elsewhere will conduct a series of collaborations.

The fair is composed of forum debates, commodity exhibitions and trade, projects introductions and promotions, and cross-border cooperation activities. The main focus is on border trading and customs, cultural tourism, mineral exploitation, e-commerce and other industrial fields.

More than 430 pavilions have been erected for businesses to exhibit various products, such as electrical equipment, daily necessities, medical appliances, clothing, and others, with around one thousand varieties in total.

In 2015, Inner Mongolia’s trade with Russia and Mongolia accounted for half of the total foreign imports and exports. And now, Inner Mongolia has established friendly relationships with 37 global cities, among them 22 are from the two neighbors, said Yun Guangzhong, vice president of the region. Furthermore, a cooperative agreement was approved among China-Russia-Mongolia businesses during the forum.

China, Russia and Mongolia have played complementary roles regarding resources, production and markets. And, a China-Russia-Mongolia economic belt is expected to form soon, according to Wang Jinzhen, vice chairman of the CCPIT.

The fair will continue to be hosted at Xilinhot and Abag Banner until Sept 7 in Inner Mongolia.