Local businesses in Jiangsu Province, located in East China, are taking advantage of new opportunities created by the recent expansion of the BRICS group. This growth is helping them boost their exports to other member countries.
BRICS: A Platform for Global Cooperation
With the addition of new members this year, BRICS has become a vital platform for developing countries to enhance collaboration. Jiangsu is playing a key role in this, exporting a variety of high-quality manufacturing products to BRICS nations.
Strong Export Growth
According to Nanjing Customs, exports from Jiangsu to BRICS countries reached 322.69 billion yuan (around $45.3 billion) in the first three quarters of this year. This is a 12.3% increase compared to the same period last year. During this time, imports from these countries were valued at 145.97 billion yuan, up 3% year-on-year.
Nantong: A Hub for High-End Manufacturing
The city of Nantong in Jiangsu is a key centre for high-end equipment manufacturing. Sany Palfinger SPV Equipment Co Ltd, which makes truck-mounted cranes, has seen a rise in exports to BRICS countries.
Zhou Chen, director of Customs affairs at Sany Palfinger, said, “Our lightweight and flexible truck-mounted cranes are particularly popular in BRICS nations like India and Saudi Arabia.”
Customized Solutions Drive Success
Trane Technologies, a US climate control company, has strong trade connections with BRICS countries, especially Brazil and South Africa. Exports to BRICS nations make up 90% of their total sales.
General Manager Zhang Junxin shared, “In October, we exported air-conditioning products to South Africa specifically designed for hot climates. These cooling systems have become quite popular there.”
New Energy Opportunities
BRICS countries are also working together in the new energy sector, helping emerging industries grow. Flextronics International Ltd. has a unit in Suzhou, Jiangsu, that produces self-powered control systems. On October 14, they exported products worth $188,000 to Saudi Arabia for solar energy projects.
Zhao Zhijun, manager of Customs affairs at Flextronics, noted, “With Saudi Arabia joining BRICS this year, we are seeing positive trends in trade cooperation, giving us good opportunities to export products for the new energy sector.” From January to September, their exports to Saudi Arabia totalled $3.77 million, a substantial increase of 128% from last year.
The strong export performance of Jiangsu’s businesses shows the potential of BRICS to drive growth and collaboration. As local companies continue to innovate, Jiangsu is set to thrive in the global market.
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