Source: Yiwu sourcing agent Author: Helan Date: 2012-02-28
With Syrian pounds depreciating and RMB inflating,the Sino-Syria business environment
is not as bright as before.
Upheavals and instability would always have a negative impact on a national economy,'concluded by Wang Xiaoliang, a young business dealer from Yiwu International Trade Market.
Wang's company is involved in hardware products, manufacturing and exporting; Middle East customers are his main resources, especially the Syrian clients. As the situation in Syria is getting worse," none of my Syrian clients placed any orders after the Chinese New Year." Wang said.
John Doe, a 38-year-old Syrian dealer who just flew back to Yiwu from Syria last month, briefed that the Syrian grounds were no longer safe to do any business, and added that robberies would easily happen during the transportation of goods from one city to another.
John Doe is a very promising business dealer and has stayed in Yiwu city for 5 years.
Yiwu is the place where he started his own business of jewelry, and also the place where he made profits. "When I was in Yiwu last year, I knew there was something bad happening in my country, but I did not know how serious it was until I went backand experienced it myself.
There will be 3-4 robberies in one day in my city, so the business in Syria has been ticking over for some time."
John Doe's business in Yiwu has frozen following the unrest in Syria, and he said that he hadn't got any orders from his Syrian customers, after his return to Yiwu. "Last year at this time, I had 12-15 Syrian customers coming to Yiwu to place orders in one month, and I would have 5 containers in one weekto be shipped. This year I got zero. And that is the situation our Syrian exporting dealers are facing now, and we could do nothing but wait." A wry smile spread over John Doe's face.
Actually, with Syrian pounds depreciating and RMB inflating, the Sino-Syria business environment is not as bright as before. This problem makes Jerry Doe, an Algerian business dealer, very upset.
"Now our money has lost value." Jerry Doe told reporters that lots of his customers came from Syria, and one dollar used to trade at 47 Syrian pounds but now one dollar could trade at 73 Syrian pounds. "Now what all Syrian people need is daily necessities, but the permissive exchange rate has blocked our way into it."
It should be noted that, despite of the lull in business in Syria, foreign dealers who used to do export trade to Syria, are looking for new customers now. "
I met a French business woman in Pudong Airport, on my way back to Yiwu. We had a happy chat and now she is my customer." John Doe said two days ago this French woman just placed a order of jewelry with a 5000-euro value. " It's a small one, but better small than none," Said John Doe.
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