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Iceland banking hope on Shanghai Expo

By Chen Jia (China Daily)
Updated: 2009-02-27 07:38

Despite being hard-strapped for cash, Iceland has decided to participate in the Shanghai World Expo 2010, hoping the six-month expo may help restore its sinking economy, an official of the executive committee of the event said yesterday.

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The minimum cost of participating in the expo, which includes the exhibition space, is about 40 million yuan ($5.8 million), according to the official website of the expo.

With Iceland signing the contract, the total number of confirmed participants at the expo, which begins May 1, 2010, has gone up to 231, including 185 countries and 46 international organizations, as of Feb 23.

Iceland's economy collapsed October last year after its financial sector went bankrupt.

"It (the expo) is a good chance for Iceland to boost its economy," Zhong Yanqun, the deputy director of the expo's executive committee, said at a press briefing in Beijing.

She added that the expo will boost the confidence of the international market to battle the economic crisis. "Besides, the event will promote communication among countries."

Meanwhile, organizers yesterday announced that the entry tickets for the expo will be available at a flat rate of 160 yuan, and "no complimentary tickets or passes" will be issued.

"Tickets will be required for all visitors, except children below 1.2 meters in height and senior citizens aged 60 or above," said Chen Xianjin, deputy director of the Bureau of Shanghai World Expo Coordination.

Tickets will be available from March 27 this year via authorized agents, travel agents and the expo Bureau, Chen said, adding that from July 1, tickets will be available for domestic purchase at various outlets in major cities, websites and hotlines.

He said the bureau has appointed agents in various countries across the world to promote sales overseas.