MIF registers slight increase in trade visitors, some exhibitors disappointed

More professional purchasers showed up at this year’s 20th Macau International Trade and Investment Fair (MIF) than last year, according to the organizer’s preliminary data.
Running over four consecutive days at The Venetian Macao since last Thursday, the event saw a total of 50 agreements inked between chambers and governments as well as around 574 negotiation sessions held, according to official figures.
Irene Lau, the Macau Trade and Investment Promotion Institute (IPIM) executive director, told media yesterday that the authorities recorded around a 9 percent hike in the quantity of professional buyers on the first day alone. But she also downplayed those numbers: “We are not looking for numbers of contracts or signatures that we have on the spot here. This is a platform. It’s a chance for everybody to meet here every year,” Ms Lau stated.
As this year’s fair highlighted, the push focused on services and products from the Portuguese-speaking nations. Lau added that firms from those countries successfully signed more than 40 contracts with other companies from around the globe. She also pledged to introduce new elements to attract more visitors in 2016.
“I think the professionalism has risen to some extent this year, and the Portuguese-speaking countries’ participation has been deepened as well. Like I said last year, it’s like sowing seeds. The forty-something agreements might stem from two or three years ago,” she said.
Up to 117 enterprises from those countries joined the business talks with on-site buyers over a wide range of merchandise concerning beverages and food, healthcare, furniture, investment and consultancy services. They also went on a visit to Zhuhai to explore business potential there.
Nonetheless, some smaller- scale firms found the exhibition less fertile ground compared to previous years, with an apparent low turnout. Pedro Nóvoa, who has his own business and heads an art group in Mozambique, told the Times that he was “disappointed” with the sales. “I think business is going down in general in Macau,” he surmised.
The wooden artifact manufacturer’s 2012 debut at the expo seemed promising to Nóvoa as he managed to seek out local agents who had sold some of his products, and also some from his fellow artists. However, the remainder of his artworks remained unsold in the following few years.
Besides this, he was similarly surprised by the dwindling purchasing power of local buyers, who he said largely asked for price cuts.
Echoing his viewpoint, E-ljayum Vavulengan, president of a Taiwanese business delegation from the Rinari community comprised of four aboriginal tribes, said most of her customers would not even make a purchase even after bargaining. “The things here are pretty pricey, yet the customers are not generous,” said the Taiwanese native.
By contrast, Newvida Lei, a barista at local coffee and tea manufacturer Seng Pan Co. Limited said their business strategies have earned the group some long-term partnerships with agents not only from Macau but also from abroad, as well as buyers from the general public who frequented the booth.
The investment promotion authorities also stressed that the fair’s business matching sessions indeed helped several firms in finding business partners.
Lau hoped the budget for next year’s fair would remain similar to this year’s figure of MOP
37 million despite pledges by the government for increased austerity. “I hope so, but would economize for sure if necessary,” she said.