Interview: China’s 2024 services trade fair boon for global cooperation amid rising protectionism: Turkish scholar

ISTANBUL, Sept. 11 (Xinhua) — China’s burgeoning global economic presence is underscored by its ability to host major trade fairs like the China International Fair for Trade in Services (CIFTIS), according to a Turkish scholar.

Baris Doster, an academic at Istanbul’s Marmara University, told Xinhua that China’s role as the world’s second-largest economy and leader in purchasing power parity is evident in its expertise in organizing large-scale international fairs. This expertise underscores China’s economic performance and dynamic growth, he said.

Doster also noted that the wide variety of participants in these fairs – including different countries, regions, sectors, and companies – shows that these events are significant for more reasons than just the agreements made.

The scholar believes that such global fairs emphasize China’s role as a key player in international trade and investment, contributing to global trade and supply chain stability.

“In this context, the CIFTIS is expected to continue this tradition, demonstrating the vibrancy of the Chinese economy and paving the way for future events that will further enhance China’s global economic influence,” he said.

He also highlighted the fair’s role in enhancing South-South cooperation and promoting joint development, particularly in response to the increasing backlash against globalization and rising trade protectionism.

In Doster’s view, trade protectionism refers to policies in the Western world that restrict imports and shield domestic industries from foreign competition, often through tariffs, quotas, and other trade barriers. According to him, this approach contrasts with free trade principles, which advocate for open markets and global competition.

“China, reacting to unconventional moves from the North that diverge from free trade principles, has implemented various measures,” he said. “If there is a reduction or contraction in North-South trade, China plans to place even greater emphasis on trade among the Global South.”

According to Doster, China’s ongoing commitment to opening up to the outside world and the significance of its policies play a growing role in global cooperation.

“China’s performance in this area, combined with its commercial and economic dimensions, has naturally increased its diplomatic capabilities, influence in foreign policy, and reputation in global relations,” he added.

This year’s CIFTIS, scheduled to take place in Beijing from Sept. 12 to 16, will continue to focus on the theme “Global Services, Shared Prosperity.”

The fair will feature exhibitions from over 80 countries and international organizations, with more than 420 Fortune Global 500 companies and leading enterprises confirmed for offline participation.

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