Financial crisis is yet to hit the bottom, and many enterprises in Foshan are exploring new markets to seek opportunities. On March 21, Foshan economic and trade delegation with representatives from over 30 enterprises, led by deputy mayor Li Zifu, headed for South America for a series of economic and trade talks lasting 12 days.

The delegation will go to South American countries such as Brazil, Argentina and Chili. During this visit, Foshan will join hands with Hong Kong Trade Development Council, InvestHK, National Investment Promotion Agency of Argentina, Chamber of Chile-China Commerce and Industry and other trade promotion organizations to hold several economic and trade fairs. Drawing on the well-developed international trade platform of Hong Kong and the trade promotion organization networks in South America, we hope to score greater achievements in the tour. 

Statistics show that, in 2008, the bilateral trade volume between Foshan and South America amounted to USD$2.27 billion, up 22% year on year. Brazil is the largest trade partner of Foshan in South America. Foshan’s fast growing industries such as household appliances, building materials and furniture have rather strong competitive edge in Brazil and the whole South American market, while the rich mineral resources, agricultural produces and cow leather in South American countries have also provided import business opportunities for enterprises in Foshan city.