Global Alliance for Trade in Services to be established this year

The Global Alliance for Trade in Services is expected to be established in Beijing this year, announced a preparatory meeting for the Alliance held during the 2021 China International Fair for Trade in Services (CIFTIS) which concluded on Sept. 7.

So far, over 100 organizations and enterprises from five continents have applied for membership of the alliance, and what they do covers all the 12 major aspects of the service trade.

Themed “Towards Digital Future and Service Driven Development,” the CIFTIS held a series of exhibitions, forums, promotion and negotiation activities that covered all the 12 major aspects of the service trade. This year’s CIFTIS attracted five more countries and over 4,500 enterprises than its predecessor, and has made a new record in the number of participating enterprises and the proportion of foreign companies in the total.

Building consensus, the CIFTIS has injected new vitality into the global trade. The successful holding of the Global Trade in Services Summit further expanded the global influence of the CIFTIS.

Five summit forums and nearly 200 professional forums and meetings were held during the six-day event, where political, business and academic elites gathered and had heated discussion over hotspot issues such as the facilitation of service trade and tourism cooperation. Besides, multiple authoritative reports were released during the 2021 CIFTIS, including one on China’s digital trade development and one on the country’s service trade development. Sharing development opportunities in service trade and promoting global recovery and growth, the 2021 CIFTIS has further expanded its “circle of friends.”

The 2021 CIFTIS covered a total exhibition area of 126,000 square meters, and innovatively used two venues for exhibitions, moving part of its exhibitions to the Shougang Park for the first time. It debuted a digital services area focusing on digital experiences, services and governance, where the first autostereoscopic 3D cinema in China was exhibited.

Through massive exchanges on new concepts, services and achievements, the 2021 CIFTIS achieved satisfying results. A total of 510 enterprises that were on the Fortune Global 500 list or occupied a leading position in their respective industries were physically present at the event, accounting for 21 percent of the total exhibitors, 12 percentage points higher from a year ago.

According to preliminary statistics, the 2021 CIFTIS achieved 1,672 results as of Sept. 7. Some 70 enterprises from home and abroad released new technologies, applications, scenarios and results in a launching hall specifically set up during the event, covering carbon neutrality, finance technology and healthcare.

So far, the digital platform of the CIFTIS has been comprehensively upgraded, and is able to offer immersive experiences for online exhibitors and visitors with virtual planar exhibition booths, 3D booths, as well as cloud meetings, negotiation and contract signing.

“We’ll hold regular online and offline activities to make the CIFTIS a permanent event,” said Yan Ligang, head of the Beijing Municipal Commerce Bureau.