China Sourcing Fair

Thousands of Asian products on display in Miami Beach at China Sourcing Fair

 

mwhitefield@MiamiHerald.com

East met West on Thursday at the opening of the three-day China Sourcing Fair in Miami Beach as Asian sellers connected with thousands of potential buyers from the Americas.

The fair is located in South Florida to take advantage of the Latin American and Caribbean markets as well as U.S. buyers who target the Latin American market.

About 10,000 buyers preregistered, and more are expected for the event, which features everything from wearable technology such as a combo watch/pedometer, smartphones and tablet computers to wrapping paper, toilet seats and hardware.

Many of the goods on display at the Miami Beach Convention Center may end up in stores for the next Christmas season, but consumers won’t be able to get a preview. The fair is strictly for trade-show buyers.

The 400 companies from China, Taiwan and Hong Kong that are showcasing their products are “looking for people who will buy 10,000 pieces a month, container-loads full of merchandise,” said Bill Janeri, who organized the fair for Hong-Kong-based Global Sources.

The names of some of the exhibiting companies reflected their high hopes for boosting trade. Among them were the Foshan Ever Rising Trading Co., the Wise Rich Co., the Dongguan Fly Far Industrial Investment Co. and Xiamen Glory Bright Star Electronics.

The Miami Beach fair is one of many China Sourcing events that Global Sources holds in China and around the world, but it is the only one in the United States.

Miami is appealing because it is a crossroads for Latin America, said Janeri, Global Sources’ general manager for developing markets. “We do the fair here because it’s the center of trade for all of Latin America.”

Between the thousands of buyers and the 1,200 to 1,500 exhibitors, Global Sources estimates the fair has an $8 million to $9 million economic impact on South Florida.

Last year, the Miami Customs District, which stretches from Palm Beach County to Key West, had $6.65 billion in trade with China — making China the district’s fourth-most-important trading partner. In addition, the district registered $1.15 billion in trade with Hong Kong and $580 million with Taiwan.

As the economies of Latin America grow, expanding the middle class, people have more disposable income to spend on themselves and their families, Janeri said.

“Thirty years ago, Europe and the United States were our most important markets. But now new markets like Latin America, Africa and the Middle East are becoming important,” said Ma Hua, deputy director general of the Department of Foreign Trade and Economic Cooperation of Guangdong Province.

The province in southeast China, bordering Hong Kong, is a manufacturing powerhouse. Annual exports and imports for the province alone total $1 trillion, said Ma.

“In the past two years, the business relationship and transactions with our new markets represent our highest growth in international trade — double-digit growth,” he said.

This year’s hot products for Latin America, said Janeri, are fashion accessories and garments and, as always, electronics.

“This year, the buzz is wearables,” Janeri said as he pulled up his sleeve to display a watch that also keeps track of his daily physical activity.

Read more Business stories from the Miami Herald

  •  
 <span class="cutline_leadin">HAPPY DANCE:</span> Commissioner Jose “Pepe” Diaz dances with Ileana Quevedo, employee of IKEA during the opening ceremony of IKEA in Sweetwater on Wednesday.

    New IKEA opens its doors

    Several thousand people were in line by the time IKEA opened its first store in Miami-Dade County — and its second largest store in the United States — at 9 a.m. on Wednesday, with free giveaways for the first visitors in line. More than 200 customers had camped out overnight, awaiting the Sweetwater store’s opening, said IKEA spokesman Joseph Roth.

  •  
Biscayne entrance.

    Melia Hotels announces spring opening for ME Miami

    Meliá Hotels International announced Wednesday that it will open the ME Miami hotel in spring of 2015.

  • Senior scams more prevalent as population ages

    States step up to protect seniors, but even the savvy are vulnerable.

Miami Herald

Join the
Discussion

The Miami Herald is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere on the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

The Miami Herald uses Facebook's commenting system. You need to log in with a Facebook account in order to comment. If you have questions about commenting with your Facebook account, click here.

Have a news tip? You can send it anonymously. Click here to send us your tip - or - consider joining the Public Insight Network and become a source for The Miami Herald and el Nuevo Herald.

Hide Comments

This affects comments on all stories.

Cancel OK

  • Marketplace

Today's Circulars

  • Quick Job Search

Enter Keyword(s) Enter City Select a State Select a Category