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Vietnam's focus on basic exports buoys trade: buyers with annual sales of $157.5 billion join Private Sourcing Events

Posted on: Tuesday, 14 July 2009, 23:15 CDT

HONG KONG, July 15 /PRNewswire-Asia-FirstCall/ -- Five international buyers are scheduled to meet 36 pre-screened Global Sources (Nasdaq: GSOL) suppliers at two Private Sourcing Events ( http://www.PrivateSourcingEvents.com ) in Ho Chi Minh City, Vietnam. The exclusive events for Garden & Outdoor Products and Fashion Accessories will be held today and tomorrow, respectively, by Asian Sources Publications Limited's representative office. Asian Sources Publications Limited is a representative of Global Sources ( http://www.globalsources.com ).

(Logo: http://www.newscom.com/cgi-bin/prnh/20030303/LNM011LOGO-b )

Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "Of the top 30 countries exporting to the U.S., Vietnam was the only country to increase exports in the first part of the year. Vietnam's exports continue to fare well because local exporters are highly skilled at producing basic consumer items which are still experiencing strong demand.

"Fashion accessories are one example as thrifty consumers focus on accessorizing rather than buying new garments during the economic downturn.

"Private Sourcing Events are focused on generating the highest quality trading opportunities for our buyers and suppliers -- wherever those opportunities might be. That's why we've expanded the events to Vietnam, India and other alternative sourcing markets."

Buyers representing annual sales of US$157.5 billion are set to attend both Events. Participating buyers in the Garden & Outdoor Furniture Private Sourcing Event are:

* A.R.E.N.A -- An alliance of 10 independent home improvement chain stores from around the world * ICA -- One of the Nordic region's leading retail companies * Sears -- The fourth-largest broadline retailer in the U.S. * ThreeSixty Sourcing -- One of the world's largest sourcing companies

Buyers participating in the Fashion Accessories Private Sourcing Event are Metro -- The world's fifth-largest retailer, ICA and ThreeSixtySourcing.

One participating buyer, Sourcing Director of ThreeSixty Sourcing, George Ng said: "Vietnam's suppliers excel at producing basic items like art and craft, pottery and furniture with good workmanship. We've actually increased our sourcing from the country in the past year.

"As it's a new market for many of the items we source, we need to constantly find new suppliers who meet our high standards for quality. Private Sourcing Events give us a fast track to find reliable suppliers from the region who we can work with for the long-term."

One participating supplier, Director of Nghia Son, Huynh Le Dai Thang, said: "We see the economic slowdown as an opportunity to win market share as we believe our products deliver outstanding value for money. Private Sourcing Events give us an unmatched opportunity to present our products directly to top buyers who can help us enter new markets and grow our business."

Vietnam Sourcing Report provided to help buyers make better-informed sourcing decisions

Buyers participating in the Private Sourcing Event for Lawn & Garden Furniture were provided with copies of the just-published Global Sources Vietnam Sourcing Report: Lawn & Garden. This Report features 39 export manufacturers and 173 of the most popular export products. A PDF download is available for sale at http://www.chinasourcingreports.com/csr/vietnam-lawn-garden .

World's top buyers scheduled to attend upcoming Private Sourcing Events

Over 100 Private Sourcing Events are planned for 2009, with dozens of buyers including Carrefour, Auchan, Dairy Farm and Lowe's scheduled to participate. All Private Sourcing Events are complimentary for buyers and only Global Sources suppliers are eligible to participate. More information about Private Sourcing Events is available at http://www.PrivateSourcingEvents.com . Suppliers wishing to participate should contact csm@globalsources.com .

Specialized Global Sources websites, face-to-face events and trade magazines

Private Sourcing Events are part of the company's portfolio of brands for sourcing and product information services, which include Global Sources Online ( http://www.globalsources.com ), China Sourcing Fairs ( http://www.chinasourcingfair.com ) and Global Sources monthly magazines ( http://www.globalsources.com/SITE/MAGAZINES.HTM ).

For more information about Global Sources' products and services to connect quality buyers and quality suppliers, visit http://www.corporate.globalsources.com .

About Global Sources

Global Sources is a leading business-to-business media company and a primary facilitator of trade with Greater China. The core business uses English-language media to facilitate trade from Greater China to the world. The other business segment utilizes Chinese-language media to enable companies to sell to, and within Greater China.

The company provides sourcing information to volume buyers and integrated marketing services to suppliers. It helps a community of over 803,000 active buyers source more profitably from complex overseas supply markets. With the goal of providing the most effective ways possible to advertise, market and sell, Global Sources enables suppliers to sell to hard-to-reach buyers in over 240 countries.

The company offers the most extensive range of media and export marketing services in the industries it serves. It delivers information on 4.3 million products and more than 196,000 suppliers annually through 14 online marketplaces, 13 monthly magazines, over 100 sourcing research reports and 12 specialized trade shows which run 29 times a year across 10 cities.

Suppliers receive more than 67 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.

Global Sources has been facilitating global trade for 38 years. Global Sources' network covers more than 69 cities worldwide. In mainland China, Global Sources has over 2,500 team members in more than 40 locations, and a community of over 1 million registered online users and magazine readers for Chinese-language media.

Global Sources Press Contact in Asia Camellia So Tel: +852-2555-5021 Email: cso@globalsources.com Global Sources Press Contact in U.S. James W.W. Strachan Tel: +1-480-664-8309 Email: strachan@globalsources.com Global Sources Investor Contact in Asia Investor Relations Department Tel: +852-2555-4777 Email: investor@globalsources.com Global Sources Investor Contact in U.S. Kirsten Chapman & Timothy Dien Lippert/Heilshorn & Associates, Inc. Tel: +1-415-433-3777 Email: tdien@lhai.com

SOURCE Global Sources

Source: PR Newswire

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