Interview: Researcher says China int'l services trade fair promotes global service trade

CAIRO, Sept. 2 (Xinhua) -- The 2022 China International Fair for Trade in Services (CIFTIS) constitutes a platform for the recovery of the world services trade, an Egyptian researcher in political economy has said.

"The previous editions of this exhibition have helped many countries, institutions and companies on enhancing means of cooperation and promoting international trade services," said Abu Bakr al-Deeb, advisor to the Cairo-based Arab Center for Research and Studies (ACRS), adding that they have encouraged more participants to take part in the event this year.

Themed "cooperate for better development, innovate for a greener future," the 2022 CIFTIS is being held from Aug. 31 to Sept. 5.

The service sector has contributed to the economic recovery of China and other countries on the heel of the COVID-19 pandemic, the researcher told Xinhua in a recent interview.

Speaking highly of China's opening-up policy, al-Deeb said that Chinese openness is exemplified in the country's persistence in organizing the CIFTIS while the world has been experiencing unstable economic conditions.

The 2022 CIFTIS is "a force or an influence that advances the progress of China's openness to the world no matter the ongoing difficulties that hit the international economy, the trade movement and supply chain," the ACRS researcher said.

"China's pledge of a higher level of opening-up is a great opportunity for foreign institutions to expand their business inside China or among themselves," he added.

The researcher also emphasized that China does not want to give up all possible means for achieving welfare for its people and for improving cooperation with different countries and financial institutions across the globe.

He also said the services industry has witnessed considerable growth and achieved strong performance, especially services that are related to technology and financial mediators and brokers.

He explained that all the financial institutions are searching for new trade and marketing opportunities, adding that the 2022 CIFTIS will be a progressive channel for firms from many countries to increase their investment and trade exchange with China.