The national pavilion for the Republic of Armenia opens at the FTZ Global Hub in Shanghai on March 26. [Photo/pdnews]

On March 26, the Shanghai FTZ Global Hub in the Shanghai Waigaoqiao Free Trade Zone unveiled four new national pavilions for Hungary, Pakistan, Mongolia, and Armenia.

This move marks a significant step in accelerating the construction of the "Silk Road e-commerce" cooperation pilot zone. It also solidifies the FTZ Global Hub as a comprehensive platform for bilateral exchanges between China and its Silk Road e-commerce partner countries.

The Hungarian Pavilion, one of the new additions to the European exhibition area within the FTZ Global Hub, has attracted over 60 Hungarian enterprises that are seeking business opportunities in China. This includes companies involved in the traditional food, beverage, and technology sectors. This area now showcases a wide array of products, including biscuits, chocolates, honey, natural mineral water, hair care, and skincare products, along with renowned Tokaji wines from two well-known Hungarian wineries.

The pavilion's director, Pan Wei, said that being a part of the FTZ Global Hub means that Hungarian businesses entering the Chinese market will no longer have to operate in isolation. They will now have access to comprehensive support in terms of customs clearance, marketing, and retail. He added that Chinese products looking to enter Hungary can also utilize this national pavilion and that he is full of confidence about promoting future bilateral trade cooperation between China and Hungary.

Similarly, the pavilions from Pakistan, Mongolia, and Armenia are exhibiting distinctive products that reflect the rich cultural and commercial diversity of their respective nations.

The FTZ Global Hub, which received approval from the State Council in 2023, aims to serve as a gateway for both imports and exports. It will also facilitate cross-border procurement and domestic market circulation.

On the same day, the FTZ Global Hub hosted the second Waigaoqiao Global Commodity Selection Fair, drawing participation from high-quality purchasers and suppliers. This event provided substantial support for the swift and efficient entry of products from partner countries into the Chinese market.

Li Chunxi, deputy general manager of the Shanghai Waigaoqiao International Trade Operation Center, said that the FTZ Global Hub aims to collaborate with its Silk Road e-commerce partner countries in regard to new e-commerce channels, service trade promotions, new energy, energy conservation, environmental protection, and resource sharing.