Business | General
Mena buyers eye China for imports
96% of Dubai importers will increase purchases from the Asian giant in the next 12 months.
- Staff Report
- Published: 00:11 May 25, 2008
Dubai: In a new survey of importers from the Middle East, buyers throughout the region indicated they will increase their purchases from China this year.
The survey, conducted by Global Sources, a trade publisher and organiser of the China Sourcing Fair exhibition in Dubai found that 96 per cent of buyers would buy more of their products from China in the coming year in order to remain competitive and to fight rising costs.
According to the survey, 73 per cent of buyers said they have been negatively affected by recent inflation as 57 per cent indicated they have already started buying more products from China in order to combat inflation.
An additional 37 per cent said their companies plan to increase their purchasing from China in the next 12 months in order to combat inflation.
"China is seen as a refuge, as inflation in the Middle East has negatively impacted wholesale buyers and increased the cost of the products they put on their shelves," said Bill Janeri, General Manager in the Middle East for Global Sources.
These buyers are not "newbies" either; 86 per cent of the survey respondents have been importing or trading for up to 10 years or more. Conducted in April, the survey covered a universe of 5,199 importers, buyers and traders throughout the Middle East.
The objective was to determine the purchasing patterns for consumer products by buyers in the region.
China is seen as a refuge, as inflation in the Middle East has negatively impacted wholesale buyers and increased the cost of the products."
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