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Tuesday, December 5, 2023

Inner Mongolia commerce department leads business mission to the Middle East

BusinessMacroInner Mongolia commerce department leads business mission to the Middle East

A wave of Inner Mongolian enterprises is set to make their way to the United Arab Emirates (UAE) and Saudi Arabia in search of business opportunities and cooperation, according to the region’s commerce department. A total of 51 foreign trade companies are expected to bring their specialties, including raw and cooked beef, lamb, sunflower seeds, and tomato sauce, among others, to the Middle Eastern countries as part of the delegation. The trip, organized by the local government, is aimed at broadening their markets overseas.

Upon their arrival, a series of activities, including marketing events, business negotiations, exhibitions, and investment research events, will take place to facilitate cooperation and boost business relations between the two regions. Additionally, the enterprises will visit commodity distribution centers and local markets to study the local consumer needs and preferences and adjust their products accordingly.

The move is expected to help local enterprises sell their products abroad while also attracting foreign companies to invest in Inner Mongolia, said Yang Jin, a regional government official. Inner Mongolia is one of the largest industrial bases in China, and its companies have been increasingly seeking business opportunities in foreign markets. In addition to the UAE and Saudi Arabia, Inner Mongolia also plans to help its companies explore business opportunities in other countries, including Russia, Mongolia, Japan, and South Korea.

The COVID-19 pandemic has prompted many enterprises to seek new markets overseas and expand their global footprint. While the pandemic has caused disruptions in the global supply chain, it has also created new opportunities for businesses to explore emerging markets and diversify their supply chains. Inner Mongolia’s move to explore new markets and establish partnerships overseas is an excellent example of how businesses can adapt and grow in the post-pandemic world.

The delegation’s trip to the Middle East is expected to bring new business opportunities for Inner Mongolian companies while also contributing to the region’s economic growth. The initiative also highlights the importance of international trade and cooperation, which can pave the way for more significant partnerships and collaborations in the future.

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