China Expo Shows Russian Export Potential Surpassing $100 Million

The China International Import Exhibition (CIIE) came to a close on November 10. In Shanghai, the state-owned development institute Russian Export Center JSC (REC) arranged a ‘Made in Russia’ display that showed off various kinds of domestic products.

CIIE became a fruitful platform where Russian companies held over 500 business meetings. In its preliminary report, REC cited Russia’s national development bank VEB.RF and gave a rosy assessment following the end of the expo. REC estimates the export potential of the participants at 10.1 billion rubles (approx. $109 Mln). This figure is six times higher than last year.

"Russian exporters do have something to offer to Chinese customers, both in terms of finished products and tech solutions. With that being said, most of our exporters see the initial stage of the transaction as the most challenging. The first step involves getting balanced marketing and business background data regarding the Chinese market and seeking out buyers and commercial partners," said REC General Director Veronika Nikishina.

Nikishina underlined that CIIE is a great experience for Russian companies, business veterans and, especially, for newbies. Such a platform is a fantastic opportunity to build ties with potential clients, understand their needs, come up with the best offer and strike a deal on the spot. Chinese partners attach great importance to establishing real-life communication and mutual trust.

This year alone REC backed 64 Russian companies that introduced their products at CIIE. The list of potential partners includes large distributors, wholesale companies, online stores, retail networks and representatives of local business associations.

The area allocated for the 2023 Russian exposition at CIIE took up 1,700 square meters, double the size compared to 2022. There are six pavilions housing the exhibition: "Food and Agriculture", "Consumer Goods (Souvenirs)", "Consumer Goods (Beauty and House Cleaning Products)", "Medicine and Health Care", "Technology (IT)", and "Services".

Russian agricultural companies presented their sweets, chocolate, oil, butter, alcoholic and soft beverages, and much more. Expo guests had a chance to learn about Russian dietary supplements, beauty products, medical goods, household cleaning supplies, as well as souvenirs made of wood, amber and mammoth tusk.

The ‘Made in Russia’ stand put up industrial high-tech solutions, domestic software and various services of local logistics companies and tour operators.

Culture as a whole was a major aspect of the exhibition. The Russian ethos united the stands of REC, Ministry of Industry and Trade (MinPromTorg) and Fesco (Russia’s largest private transportation and logistics company). With the State Tretyakov Gallery’s greatest masterpieces at the focus.

These stands had interactive presentations and videos on art played out in the background. Expo guests could look at AI-generated takes on paintings by Russian artists, compare them with the originals, and learn about the artists.

The joint effort by REC, Fesco and the Tretyakov Gallery is part of the trilateral cooperation in the creative industry. The three partners signed the relevant agreement on the sidelines of the SPIEF ’23 (St. Petersburg International Economic Forum).

REC has encouraged and promoted the participation of national companies in CIIE ever since its inception back in 2018.