2017 CIFIT ends with fruitful results

Foreign guests attend the 2017 China International Fair for Investment and Trade held in the port city of Xiamen, Fujian province on Sept 18 to 21. [Photo/Xinhua]

The 2017 China International Fair for Investment and Trade (CIFIT) concluded in the coastal city of Xiamen in South China's Fujian province on Sept 21.

This year's fair has seen the signing of 1,557 contracts worth a combined 530 billion yuan ($79.5 billion) in investment, which includes 232 billion yuan of foreign investment and 60 billion yuan of outbound investment.

More than 350 professionals from 35 countries and regions across the world addressed about 70 forums held on the sidelines of the four-day event.

Following hot on the heels of the ninth BRICS Summit, which was held in Xiamen on Sept 3-5, the fair continued to focus on pushing forward economic cooperation and exchanges among the BRICS countries.

A total of 49 groups of companies and trade agencies from the BRICS countries of Brazil, Russia, India and South Africa, as well as other countries including Thailand and Mexico, were invited to the fair.

Meanwhile, the CIFIT also served as an international platform for promoting investment in the economies taking part in the Belt and Road initiative.

According to the organizers, over 20 countries involved in the Initiative participated in the fair, including India, Pakistan, Nepal, Sri Lanka and Poland.

The Guest Country of Honor at this year’s fair was Georgia, a country whose location at the junction of Asia and Europe has made it an important gateway along the Silk Road since ancient times.

Georgia took the spotlight with an exhibition pavilion of 800 square meters, showcasing their products, trade potential and investment opportunities in wine, food and fashion design.

Additionally, ASEAN countries including Malaysia, Indonesia, Singapore and Cambodia also actively capitalized on the annual global trade event to promote their food, tourism and aviation industries. The trip proved a fruitful one for them, as they signed contracts for around 10 cooperation projects at the fair.

The organizing committee also revealed that the 2018 edition of the CIFIT shall be held in Xiamen from Sep 8 to 11.