Washington, DC – The International Association for Exhibition Management (IAEM) signed an landmark agreement with the China Council for the Promotion of International Trade (CCPIT) on April 21st . Here‘s how the two groups will work together to increase trade between the two countries, using exhibitions as a platform.
With the assistance of the U.S. Department of Commerce, IAEM and CCPIT agreed to work to improve U.S. exports to China and educate the U.S. exhibition industry about the commercial opportunities in China. In addition:
§ IAEM and CCPIT will exchange information about exhibitions in both countries;
§ CCPIT will assist IAEM members and American organizers to coordinate U.S. participation in Chinese exhibitions;
§ CCPIT will help locate reliable partners to support U.S. events in China; and
§ IAEM and CCPIT will develop business-matching opportunities for U.S. exhibitors in Chinese exhibitions.
IAEM and CCPIT have also agreed in principle to stage an annual exhibition industry event in Beijing in January 2005, tentatively dubbed The China Expo Summit.
The signing ceremony was held on April 21st at the U.S. Department of Commerce in Washington, DC. On hand were Commerce Secretary Donald Evans; Chinese Vice-Premier Wu Yi; U.S. Trade Representative Robert Zoellick; IAEM Past Chairman Jacqueline Russo (VP of Kuehne & Nagel), and IAEM COO Cathy Breden.
China’s economy is booming. In 2003, the Chinese GDP (Gross Domestic Product) was an estimated 9.1% of the world’s GDP. China is expected to sustain this growth due to its entrance into the World Trade Organization; a stable monetary and fiscal policy; high investment rates; rapid adoption of technology; and a booming private sector.
Dennis Slater, IAEM’s 2004 Chairman (President of the Association of Equipment Manufacturers), hailed the agreement as “an incredibly important first step in making it possible for show organizers and exhibitors to participate in Chinese exhibitions and other events in very practical and manageable ways.”