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SDIC Signs Record High US$1 billion Import Agreement with 19 Foreign Partners

2021-11-09

On November 6, 2021, People's Daily published on its top news page an article tilted the keynote speech by President Xi Jinping at the opening ceremony of the 4th China International Import Expo receives warm responses from all sectors of the society. In this article, SDIC Chairman and Secretary of SDIC Party Leading Group Bai Tao was quoted as saying that (CPC Central Committee) General Secretary Xi Jinping's speech stated clear China's determination to promote higher level opening. SDIC would continue to deepen its international cooperation, develop both international and domestic markets and further tap the potentials of cooperation with “the Belt and Road Initiative” countries and regions so as to make its contribution to the jointly building of an open world economy.

On the same day, SDIC held an import matchmaking meeting and agreement signing ceremony. Yang Xiaohui, head of SDIC's procurement delegation, SDIC Deputy General Manager and member of the SDIC Party Leading Group, said that SDIC adheres to the philosophy of “peace, development, cooperation and win-win”, continues to deepen its cooperation with partners from home and abroad in key areas, important industries and international businesses, makes joint efforts to tackle the tough issues in the world economy, international trade and investment, joins hands in drafting cooperation plans, building cooperation platforms and sharing cooperation achievements, and makes joint efforts to promote the recovery and growth of the world economy. Present at the signing ceremony were Wu Shiyong, Party Secretary and Chairman of the Board of China SDIC International Trade Co., Ltd., Uruguay Ambassador Fernando Lugris, Sun Huaibin, Vice President of China National Textile and Apparel Council, and Cao Derong, President of China Chamber of Commerce of Import and Export of Foodstuffs, Native Produce & Animal By-Products.

Wu Shiyong expressed his gratitude to all sectors of the community for their support to China SDIC International Trade Co., Ltd.. He said that as the platform of SDIC's international trade and new materials industry and the platform of SDIC's participation in “the Belt and Road Initiative”, China SDIC International Trade Co., Ltd. would continue to adhere to its philosophy of active cooperation and win-win development, focus on the areas of bulk commodities and competitive products in segmented markets, which serves the national economy and people's livelihood, adheres to “professional, market-oriented and international” development path, actively develops its international business, builds global partnerships and benefits with domestic and international partners from the new dynamics, new thoughts and new direction.

Ambassador Fernando Lugris said that Uruguay exports a lot of commodities to the Chinese market through China SDIC International Trade Co., Ltd.. A reliable food supplier, Uruguay maintains strong influence in the world market. About 60% of its beef and 80% of its mutton are exported to the Chinese market. Since 2013, China has bene remaining the most important trade partner of Uruguay. In the previous month, Uruguay's exports to China accounted for 38% of the country's total and with gradually strengthening of bilateral trade relations, there is a good opportunity for the two countries to continue to develop their strategic partnerships. He expressed his hope that China and Uruguay would further deepen their friendship and cooperation by taking the advantage of “the Belt and Road Initiative”.

Sun Huaibin said that as strategic partner of SDIC, China National Textile and Apparel Council is devoted to serve the textile industry's development in depth and breadth, push the readjustment and upgrading of industrial structure and promote horizontal economic collaboration and coordination. China National Textile and Apparel Council is willing to join hands with SDIC to promote high quality development of China's imports by taking the advantage of the China Import Expo platform and make joint efforts for the promotion of domestic consumption upgrading and the good life of the people.

At the ceremony, SDIC's procurement delegation signed 29 import intent agreements with 19 foreign partners, covering 15 countries including Ukraine, Argentina, Russia, Benin, Uruguay and Indonesia, etc.. The 16 categories of commodities including barley, cotton, manganese ore, edible oil and meat are worth US$999 million.

It is the fourth year that China SDIC International Trade Co., Ltd. acts as SDIC's procurement delegation and has signed import intent agreements worth a total of US$3.466 billion, covering “the Belt and Road Initiative” countries of Ukraine, Indonesia, Vietnam and Pakistan, and the commodities of cotton and yarn, grain and feed, oil and oil seed, chemicals and chemical fiber, ore, wool and foodstuff, etc.. Of the total, import intent agreements signed with “the Belt and Road Initiative” countries reached US$1.906 billion, accounting for 54.99% of the total. Compared with the agreements signed at previous expos, the value and purchasing scale signed at the 4th China International Import Expo both reached a record high, with a sharp increase of 44% over the previous expo. This year's import agreements see the addition of six new categories of commodities: barley from Argentina, manganese ore from South Africa, manganese ore from Ghana, edible oil from Russia, frozen meat from Uruguay and palm oil from Indonesia, which has further expanded the scopes of imports.

Since China launched its “Belt and Road Initiative”, China SDIC International Trade Co., Ltd. has conducted trade with partners from nearly 50 “the Belt and Road Initiative” countries, with import commodities including cotton yarn from Pakistan, rice bran from Vietnam, barley from Ukraine and tapioca starch from Thailand, and with trade volume totaling US$5.387 billion. In recent years, the trade between China SDIC International Trade Co., Ltd. and “the Belt and Road Initiative” countries has been keeping a steady growth trend. In 2020, the trade volume between China SDIC International Trade Co., Ltd. and “the Belt and Road Initiative” countries hit US$949 million, a rise of 14.48% over the previous year, and an increase of US$206 million and a rise of 27.73% over the year 2013. In the first three quarters of 2021, the trade volume between China SDIC International Trade Co., Ltd. and “the Belt and Road Initiative” countries reached US$785 million, a rise of 19.22% over the same period of last year.

In the next step, China SDIC International Trade Co., Ltd. will actively integrate itself with the new development pattern, thoroughly implements the new development philosophy, further tap the potentials of domestic and international markets, comprehensively carry forward its development strategy, constantly improves its supply chain construction, and continues to strengthen trade of agricultural products, ores, chemical products and foodstuffs with “the Belt and Road Initiative” countries to bridge the domestic and international markets and make its contributions to the further development of “the Belt and Road Initiative” and to the good life of the people.

 

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