WELLINGTON, Oct. 25 (Xinhua) -- The annual China International Import Expo (CIIE) provides a great opportunity for Fonterra to develop relationships and form partnerships, according to the New Zealand dairy giant, which will participate in the annual event in Shanghai for the seventh consecutive year.
"China is an important market for Fonterra. The China market remains a vibrant and dynamic place that offers opportunity for growth," Teh-han Chow, Fonterra's Greater China CEO, told Xinhua on Friday.
Owned by New Zealand farmers, Fonterra has benefitted greatly from a healthy bilateral relationship between New Zealand and China, Chow said.
"We expect China's economy to continue to grow and the demand for dairy products to not only increase but also to change according to the ever-evolving taste preferences of Chinese consumers," he said.
At the seventh CIIE to be held on Nov. 5-10, key Fonterra products that will be introduced reflect the increasing demand in China for products that support health and wellness, Chow said.
Fonterra continues to invest in innovation in China's dairy sector and has six application centers in China, he said, adding the new application center which was opened in September in central China's Wuhan would bring the co-op closer to the local market and enable the rapid launch of innovative product applications in response to market trends and local customers' needs.
The New Zealand-China Free Trade Agreement has removed all tariffs on New Zealand dairy products as of January 2024, marking the final liberalization of dairy access. ■
