Longyou overseas warehouse wins provincial recognition

The warehouse of Quzhou-based Longyou Xinsidai Commercial Trading Co in Bogota, capital of Colombia wins provincial recognition. [Photo/qz96811.com]

The warehouse of Quzhou-based Longyou Xinsidai Commercial Trading Co in Bogota, capital of Colombia, was recently included in the list of Zhejiang provincial public overseas storehouses, local media reported.

Founded in March 2017, the company is dedicated to exporting building materials as well as construction, mining and wood-working machines, daily necessities and clothing to South America, the Middle East and Africa.

In the same year, Xinsidai set up its first warehouse in Bogota.

With an area of 2,800 square meters, the overseas warehouse is used to purchase, transit, store and showcase products made in China.

Since June 2018 the warehouse has attracted more than 30 companies from cities in Zhejiang, Shanghai and Nanjing and secured orders worth more than $8 million from South American countries.

"By riding the wind of the Belt and Road Initiative, we have taken advantage from such a national strategy," said Lin Xiaoyu, director of Xinsidai's public overseas warehouses.

According to Lin, the Colombian government is developing an open-economy and has inked a series of trading agreements with the Chinese government.

In January, Xinsidai joined the smart city committee established by the National university of Columbia and local government to participate in the construction of smart cities in Colombia.

"Small and medium-sized enterprises (SEMs) are always in an unfavorable position in export trade," noted Hua Xinling from the Longyou economic and information technology bureau.

Hua added that considering the risks and costs of exporting products, SEMs dare not venture into new markets.

Public overseas warehouses have become an important measure for Longyou to maintain a steady growth in foreign trade, according to Hua.

Since its operation in June 2018, the Longyou company's overseas warehouse has secured orders worth more than $8 million from South American countries. [Photo/qz96811.com]