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Global Sources expands Virtual Buyer Meetings to help buyers and suppliers reduce costs in tough economic times

Posted on: Monday, 31 August 2009, 03:00 CDT

HONG KONG, Aug. 31 /PRNewswire-Asia/ -- Global Sources (Nasdaq: GSOL) has expanded its Virtual Buyer Meeting program to help buyers and suppliers save time and reduce sourcing costs in this year's challenging economic environment. This year, 30 events are scheduled to connect buyers and suppliers in Asia and around the world.

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

Global Sources' Chairman and CEO, Merle A. Hinrichs, said: "Global Sources was the first in the industry to launch Virtual Buyer Meetings in 2005 using a high-definition webcam to connect buyers and suppliers. To help our buyers and suppliers further reduce costs during these difficult economic times, we have increased the number of Virtual Buyer Meetings at our China Sourcing Fairs -- and through our e-sourcing service and Private Sourcing Events.

"Like all our channels -- online, face-to-face and print -- suppliers are pre-screened before meeting our buyers. In addition to cost savings for both parties, this improves the prospect of successful business deals getting done."

Virtual Buyer Meetings enable buyers to connect remotely to suppliers at over 60 Global Sources' sales representatives' offices around the world -- this allows buyers to meet qualified suppliers while, at the same time, saving substantial travel costs for the buyer. This service is especially valuable for emerging markets buyers -- such as buyers from India, Brazil, and Russia -- which often don't have a China-based sourcing office.

One buyer and e-sourcing participant, Orient Craft, India's largest garment manufacturer, participated in Virtual Buyer Meetings on Aug. 28 and 31, by connecting from their office in New Delhi to 11 suppliers in Taipei and Shenzhen. Orient Craft is seeking suppliers of garment and textile products such as laces, zippers, labels, and beads.

Assistant General Manager of Orient Craft, Suresh Sood, said: "Global Sources' e-sourcing program has enabled us to pre-qualify suppliers through the convenience of the Internet. Today, through Virtual Buyer Meetings, we can easily meet these suppliers to see their products and to better understand how they can meet our sourcing needs.

"Virtual Buyer Meetings also give us the opportunity to interview multiple suppliers in a single day without ever leaving our office. This reduces our total sourcing cost. Further, and more importantly, it helps us find better products since we are able to interview more suppliers in less time than we could through other conventional methods."

One supplier, Manager of Xinlida Garment Accessory Fty, Liu Ling, said: "It is sometimes difficult to quickly gain trust with international buyers. Through Global Sources' buyer pre-qualification and Virtual Buyer Meetings, we can get on to business right away with quality, volume buyers. It is well worth our time to participate."

Global Sources' Virtual Buyer Meetings are a complimentary service for qualified buyers and Global Sources' Verified Suppliers. Buyers and suppliers interested in participating can apply at csm@globalsources.com .

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

Virtual Buyer Meetings are a part of Global Sources' sourcing and product information services. These include Global Sources Online ( http://www.globalsources.com ), the China Sourcing Fairs ( http://www.chinasourcingfair.com ), Private Sourcing Events ( http://www.PrivateSourcingEvents.com ), e-sourcing ( http://www.globalsources.com/e-sourcing ), 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 829,000 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 81 million sales leads annually from buyers through Global Sources Online ( http://www.globalsources.com ) alone.

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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