The potential of China-ASEAN economic and trade cooperation continues to be released

The “One Belt, One Road” China-ASEAN Industrial Cooperation Roundtable was held in Beijing a few days ago. People from the political and business circles said that despite the tight global trade friction, ASEAN jumped to China’s second largest trading partner in the first quarter of this year, fully demonstrating the regional and economic Strong complementarity, the mutual benefit potential of multiple industries remains.

Xu Ningning, executive director of the China-ASEAN Business Council, said in his speech that China-ASEAN's strengthening of industrial cooperation is an inevitable choice for mutual economic cooperation to achieve mutual benefit and win-win results. It is a major measure to jointly cope with world economic instability and achieve regional cooperation and development. . According to him, in 2018, China-ASEAN economic and trade cooperation maintained a strong momentum. The bilateral trade volume reached 587.87 billion US dollars, an increase of 14.1% over the previous year and a record high. In the first quarter of 2019, the trade volume between China and ASEAN was US$137.09 billion. In China's foreign trade, ASEAN jumped to the second largest trading partner.

In his speech, Boswanwan, Commercial Counsellor of the Lao Embassy in China, pointed out that the economic and trade cooperation between the two countries has developed rapidly. At present, China is the largest investor in Laos, the second largest trading partner and the third largest source of tourists. In 2018, the bilateral trade volume between China and Laos was US$ 3.47 billion, a year-on-year increase of 14.9%. China’s investment in Laos was US$ 1.43 billion, a year-on-year increase of 3.2%. Chinese tourists visiting Laos grew by 17% year-on-year. At present, Laos has a good investment environment, and has the advantages of political and economic stability, long time for tax reduction and reduction of corporate registration procedures, and welcomes Chinese friends to invest in Laos to promote the “One Belt, One Road” initiative and promote the sustainable economic and social development of the two countries.

Glenn, Commercial Counselor of the Philippine Embassy in China, believes that the “One Belt, One Road” initiative proposed by China is an excellent program for practicing multilateralism and brings many opportunities for China and ASEAN, especially in the field of industrial cooperation. He pointed out that at present, China is the largest trading partner of the Philippines and is becoming one of the major sources of foreign investment in the Philippines. China's investment involves services and manufacturing.

The embassy of the Myanmar Embassy in China, Di Lin Weng, said that benefiting from the “Belt and Road Initiative”, Sino-Burmese cultural exchanges have been outstanding in the tourism sector. The number of Chinese tourists visiting Myanmar has increased by 40%, exceeding the 30% increase in ASEAN countries. "We will also use the preferential policies such as landing visas to further attract Chinese tourists."

Xu Ningning suggested strengthening non-governmental cooperation, such as opening booths in ASEAN countries in industrial areas such as Zhejiang to promote private business exchanges.

Regarding the promotion of industry complementarity through investment, Wang Bing, chairman of Beixin Building Materials Co., told reporters that the demand for ASEAN building materials market is huge, and ASEAN will be included in the globalization of the company in the next three years to establish multiple production bases.

Shi Hui, president of Nantong Sanjian Group, told reporters that he hopes to win several demonstration landmark projects in ASEAN countries in the future, which will not only help local infrastructure upgrades, but also promote Chinese companies to go global and improve their brand image.

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