Asia Times: Chinese exporters set sights on Latin America


	October 30, 2001	atimes.com

China

Chinese exporters set sights on Latin America

GUANGZHOU - Chinese enterprises are increasingly turning their attention to the Latin American market. Li Jinhui, marketing manager of the Midea Group specializing in household appliances, said: "Latin America enjoys a relatively stable environment, both politically and economically, and the people's consumption capacity has continued to swell in recent years."

Li said the Midea Group has a series of products tailor-made for Latin American consumers, with Midea air conditioners commanding a considerable market share in Brazil, Argentina and Uruguay. The company raked in US$14 million from exporting air conditioners over the first three quarters of the year, far more than last year's total of $4 million.

The Shanghai-based China Worldbest Group Co Ltd, the largest textile enterprise in China, is also exploring the Latin American market.

"We value the favorable investment environment in Latin America guaranteed by the North American Free Trade Agreement," said Gan Shao'an, a business representative of the textile company. He said the company has set up a cotton mill in Mexico that boasts 100,000 spindles.

Aside from these large state-owned enterprises, small and medium-sized as well as private enterprises have also entered this emerging market. Dong Yuejun, general manager of the Ximo Electronic Appliances Co (XEAC) in Yuyao City in eastern China's Zhejiang province, said that his company plans a thorough review of the Latin American market. The company has already received regular orders from Chile and Peru, said Dong.

Trade volume between China and the Latin American region totaled $9.42 billion during the first eight months of this year, up 15.4 percent over the same period last year. Exports stood at about $5.4 billion, a year-on-year increase of 16.8 percent.

(Asia Pulse/XIC)