The 18th China International Small and Medium Enterprise Fair (CISMEF) and the 2nd SME International Cooperation Summit (SMEICS) kicked off in Guangzhou on June 27.

The event is ongoing from June 26 to 30, and is expected to promote international exchanges among small and medium-sized enterprises (SMEs). The exhibition area reaches 80,000 square meters. 1,600 domestic exhibitors and 300 overseas exhibitors have signed up for the fair.

(Do Thang Hai, Deputy Minister of Industry and Trade, Socialist Republic of Vietnam)

"As the co-host of the CISMEF, the Vietnam pavilion has a scale of 3000 square meters, including the Vietnam National Pavilion and 120 booths, showcasing agriculture, fishery products, food processing, clothing, household goods, and fine art gifts. The cultural performance of Vietnam will be presented as well," Do Thang Hai, Deputy Minister of Industry and Trade, Socialist Republic of Vietnam, addressed at the main forum of CISMEF.

He noted that the trade scale between Vietnam and Guangdong accounts for about 20 percent of the total trade volume between Vietnam and China. The production and trade structure of the two sides is highly complementary, which brings more opportunities for further cooperation.

(Shao Ning, Chairman of the China International Cooperation Association of SMEs)

"The development of SMEs is highly sensitive to the business environment. SMEs are facing many challenges considering the current global economy," said Shao Ning, Chairman of the China International Cooperation Association of SMEs.

He indicated that global inflation, tight monetary policy, and financial market turbulence have slowed economic growth and reduced market demands, which is challenging for SMEs.

Shao recommended that SMEs participate in international cooperation alongside larger businesses, utilize cross-border e-commerce and digital technology, as well as take advantage of opportunities presented by the trend toward sustainable development.

(Abdullah bin Touq Al Marri, Minister of Economy of the United Arab Emirates)

"Bilateral investment between China and our countries has surged in recent years, reaching a record high of 15 billion USD in 2022," said Abdullah bin Touq Al Marri, Minister of Economy of the United Arab Emirates.

He highlighted that thousands of Chinese companies are operating in the UAE, covering a wide range of sectors including technology, renewable energy, finance, tourism, logistics, and manufacturing.

(Zou Ciyong, Deputy to the Director General of the United Nations Industrial Development Organization (UNIDO))

Zou Ciyong, Deputy to the Director General of the United Nations Industrial Development Organization (UNIDO), highlighted the megatrends in industrialization, including the digitalization and automation of industrial production, global economic power shifts, and green production.

He noted that these megatrends are profoundly affecting the future of industrialization, which SMEs should pay attention to.

Zou elaborated that Asia has emerged as a dominant hub of global industrial production, and China is implementing structural transformation toward a green and innovation-driven economy. "UNIDO stands ready to support SMEs in regional and global cooperation for inclusive and sustainable development," he added.

A series of forums will be held during the event, covering topics such as industrial cooperation between China, African countries, European countries, and APEC countries. Cross-border matchmaking activities for SMEs will be held in the following days.

The event is jointly held by the Ministry of Industry and Information Technology (MIIT), the State Administration for Market Regulation and the provincial government of Guangdong.

According to the committee of the CISMEF, the number of SMEs in China exceeded 52 million by the end of 2022, an increase of 9.1 percent year-on-year. The revenue of SMEs above the designated scale exceeded 80 trillion RMB.