Thailand and Vietnam are major users of wire and tube solution. Thailand has a well developed industrial infrastructure with large automotive, electrical/electronic, petroleum and petrochemical industries boosting demand. As income levels rise in the country, high levels of infrastructure spending will also be essential. In addition, Vietnam’s Ministry of Planning and Investment estimates that Vietnam will require some US$150-160 billion for infrastructure development through 2020. Thus the development of wire and tube in these two countries will be promising.
What’s more, demand for wire and tube solutions in Indonesia and Malaysia posts strong growth, too. GDP growth of Indonesia is forecast to remain strong in the coming years, exceeding 6 percent per annum. The Indonesia automobile industry is forecast to gain double-digit growth for the next four years, with industry estimates pointing to a doubling of production between 2010 and 2015. Besides, Indonesia will require an estimated US$150 billion of infrastructure investment over the next five years.
Furthermore, Malaysia and other ASEAN economies are benefiting from a renewed emphasis on FDI in the Southeast Asian region. To consolidate its position as an investment destination, Malaysia is promoting several logistics infrastructure projects so as to accelerate demand for wire and tube solutions.
With these high levels of investment in ASEAN economies and strong industry demand, ASEAN’s demand for industry and infrastructure is growing, which will surely drive the development of related parts, becoming the emerging overseas markets for Chinese fastener companies.
After a busy day on Day 1, China Fastener Info (CFI) on Day 2 went on to hand out China Fastener Directory (CFD) and recommended suitable suppliers to visitors with the aims of “accelerating the development of Chinese fastener companies and helping them go to the world” as well as encouraging bilateral trade cooperation between China and ASEAN. We also invited visitors to attend the 6th Guangzhou Fastener Trade Show scheduled for November 11-12, 2011 at Guangzhou Poly World Trade Expo Center, Guangzhou, China.
If Day 1 was merely a warm-up of the exhibition, then Day 2 approached its climax. CFI’s booth was crowded with many visitors. We were quite busy and had little time to take photos.
Exhibitors from China included machinery companies such as An Chen Fa Machinery, Gwolian Machinery; and wire companies including TengLong Stainless Steel Wire Group, etc. TengLong Group was the only one company that exhibited stainless steel fasteners in the exhibition. After talks with exhibitors, many of them expressed their confidence in the promising trend of Southeast Asian markets and said that they would attend the 6th Guangzhou Fastener Trade Show in November.
Left: Mr. Chen Guocheng, Customer Manager of TengLong Stainless Steel Wire Group; Right: Mr. Guo Xiangyu, Consultant of CFI
Mr. Xu Congzhi, business?supervisor of An Chen Fa Machinery told us that they have been attending this kind of exhibition for 15 years though his company’s orders had been fully booked till the next year. They are looking forward to cooperating with CFI in the future for they will attend more domestic shows.
Left: Mr. Guo Xiangyu, consultant of CFI, Right: Mr. Xu Congzhi, business supervisor of An Chen Fa Machinery Co., Ltd.