China trading company steps up Pacific investment

From a small-scale exporter to a new investor in the Pacific Islands, this is a story of a company committed to building a sustainable fishing and trading business to employ Pacific Islanders and provide good jobs and supply quality products across the region and beyond to Asia.

PTI China Trade Commissioner David Morris (third from right) with Huangrui Import and Export Co.

PTI China has worked with Huangrui Import and Export Co since 2007, connecting the company initially with Tonga, where local businesses needed its building and housing materials.

Fu Bin, who leads the company, says he was attracted by the beauty of the island countries in the Pacific. After building familiarity with the cultures and with advice from PTI China over recent years it has expanded its business trading niche quality products with several Pacific Island Countries. During that time, the company was actively searching for joint venture partners in the Pacific and a hub from which to grow its business across the region.

PTI China provided advice, including on investment regulations, and introduced the company to potential partners.  In 2015 Huangrui signed a MoU with local partner DJ Farm for a new Joint Venture and in 2016 began to implement the MoU and capital raising to start the Joint Venture company – CITIC Pacific Trading Inc.

Based in Pohnpei, the capital of the Federated States of Micronesia, the new business investment is valued initially at US$0.8m.  The firm has five fishing boats and is exporting 30-50 tonnes of fish a month and a range of other products across the Pacific and to major Asian markets, employing 15 staff.

The company has begun working with Samoa Coolma beverages to export in the Pacific region and continues to look for more Pacific products and Pacific investment opportunities.

“We received great help from PTI China every step we made during our growing in the Pacific,” Mr Fu said.

For more information email Vivienne Song, Manager Tourism, Media, Marketing at PTI China on vivienne.song@pacifictradeinvest.org.cn

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