The 119th China Import and Export Trade Fair -- better known as the Canton Fair -- is taking place in the southern city of Guangzhou. Viewed as a barometer for the country's foreign trade, the fair is booming with buyers and exhibitors alike.

There are more than 24,000 Chinese and foreign exhibitors here. With global demand continuing to drop, many domestic exporters have found the going rather tough in the first quarter of 2016.

The export volume for January and February decreased for our company, but we saw a big increase in March. We hope our exports can stabilize. But for most manufacturers in our industry, exports are still very weak," said Chinese exporter Chen Tongchai.

China's foreign trade dropped by 5.9 percent to 5.2 trillion yuan in the first quarter. But exports in March bounced back for the first time in nine months, adding to signs of stabilization. Though trade with China's major trading partners -- such as the EU, the US and ASEAN countries -- was weak, the market in emerging countries is showing positive signs.

It's the ninth year for this Egyptian company to attend the Canton Fair. They hope to expand their cooperation with their Chinese counterparts, both in trade volume and technology transformation.

"We take the high-tech from China. We are not competing China, we are learning from China," said Egyptian exhibitor Khaled Ramzy.

As China presses ahead with the Belt and Road Initiative, and having signed free trade agreements with several countries, many buyers in these countries have seen an increase in trade with Chinese manufacturers.

"As you know China is manufacturing for the world, as our business in India is increasing, the cooperation is also increasing," said Indian buyer Hitendra Admuthe.

The number of buyers from these countries is expected to grow, as Spring is a busy season for them. The fair presents an opportunity for Chinese manufacturers to expand cooperation with them.