China, South Asia trade ties shine in key expo, but Indian presence remains low
- The last China-South Asia Expo was held in 2019, and its resumption saw hundreds of trade and investment deals made, though some would-be investors remain cautious
- Global supply-chain upheaval and trade tensions have forced China to get creative in securing new buyers in the face of geopolitical disputes
After four long years, China has secured a number of deals with its South Asian neighbours at the first in-person gathering of the 7th China-South Asia Expo since before the pandemic.
The five-day event, held in Kunming, Yunnan province, served as an opportunity for regional economies to expand their trade pool amid US tariffs and a global supply-chain decoupling.
A total of 342 investment pacts and 141 trade contracts were signed – up 2.2 and 3.9 per cent, respectively, from the 2019 expo. But just 52 Indian companies were present, compared with 140 in 2019, according to Ajay Sahai, director at the Federation of Indian Export Organisation, as Indian businessmen are taking the “wait and see” approach amid the widespread economic slowdown.
“We’re hoping that both the global economy, as well as the Chinese economy, will improve in 2024,” he told the Post at the expo. “So, right now, the participation size [at the expo] will be limited because people are just testing the market here at this point in time.”