|Yiwu Trade Service Center Opens in Benin|
In December, the Yiwu Trade Service Center was put into operation in Benin. According to statistics, on the opening day, the center had welcomed more than 3000 visitors and the total turnover was nearly 8 million XOF. Known as the world’s capital of small commodities, Yiwu has the world’s largest small commodity market. But this year, Yiwu has also suffered from the pandemic. As the European and American markets have been hard hit by the pandemic, Yiwu is exploring the African and Middle Eastern markets as the next opportunity for expansion.
“China is giving great support on the construction of overseas warehouses. During our market investigation, we found that the freight forwarders and cross-border e-commerce companies have huge demand for overseas warehouses during the pandemic,” said a director of the trade service center. The new center in Benin has a total area of about 360 square meters. It moves the Yiwu market to West Africa where the local merchants can purchase Chinese goods directly. (By Wu Fengyu, translated by Li Ziyi, edited by Mariam Ayad)