BEIJING: The 22nd China-ASEAN Expo (CAEXPO) and the China-ASEAN Business and Investment Summit kicked off on Wednesday in Nanning, South China’s Guangxi Zhuang Autonomous Region, drawing over 3,200 exhibitors from 60 countries to advance regional openness, innovation and mutually beneficial collaboration.
Themed “Digital Intelligence and Innovation Empower Development – Leveraging China-ASEAN FTA 3.0 New Opportunities for an Even Closer China-ASEAN Community with a Shared Future,” the five-day event will serve as a pivotal platform for deepening China-ASEAN cooperation and advancing regional economic integration, a Chinese expert said, noting that China’s commitment to opening up with its pragmatic action will inject more confidence into the global economy.
Chinese Vice President Han Zheng addressed the opening ceremony of the 22nd China-ASEAN Expo and the China-ASEAN Business and Investment Summit.
During the opening ceremony, Han noted that under the strategic guidance of the leaders of both sides, the China-ASEAN comprehensive strategic partnership has been continuously deepened in recent years, becoming the most successful and dynamic model of regional cooperation in the Asia-Pacific and a vivid example of building a community with a shared future for humanity.
China is willing to continue working with ASEAN countries to promote harmonious coexistence and win-win cooperation, adopting more proactive approaches and pragmatic measures. This will enable the continuous advancement of building a China-ASEAN community with a shared future to new levels, and contribute more to regional peace, stability, development and prosperity, he said.
He called on the two sides to strengthen the alignment of development strategies, jointly advance high-quality Belt and Road cooperation, and work together to implement the Global Development Initiative, the Global Security Initiative, the Global Civilization Initiative, and the Global Governance Initiative.
The two sides should accelerate regional openness and cooperation, jointly build the Version 3.0 China-ASEAN Free Trade Area (CAFTA), and continue to implement the Regional Comprehensive Economic Partnership Agreement with high quality, he added.
Han also called for joint efforts to expand bilateral cooperation in emerging industries and to maintain the stability of global industrial and supply chains.
Han added that China will adhere to high-standard opening up to provide more opportunities to the world and promote common development among all countries through its own high-quality development.
He expressed the hope that all parties will make full use of the China-ASEAN Expo and the China-ASEAN Business and Investment Summit to share opportunities and jointly promote a better future.
Prime Minister of Myanmar U Nyo Saw, Vice President of Laos Bounthong Chitmany, Cambodia’s Deputy Prime Minister and Minister in Charge of the Office of the Council of Ministers Vongsey Vissoth, Malaysia’s Deputy Prime Minister and Minister of Energy Transition and Water Transformation Fadillah Yusof, and Deputy Prime Minister of Vietnam Mai Van Chinh, as well as Secretary-General of ASEAN Kao Kim Hourn, also attended and addressed the opening ceremony, Xinhua reported.
Brighter future
“The CAEXPO has been in operation for 22 years, and we have a very good record of major achievements. The expo has major multiplying effects of trade, investment, tourism, and connectivity among others,” Secretary-General of ASEAN Kao Kim Hourn said in an interview with media outlets after attending the opening ceremony.
Miftah Farid, head of the Indonesian delegation, said on the sidelines of the expo on Wednesday that the expo not only promotes trade and investment but also facilitates the development of more efficient cooperation plans among all parties.
Miftah Farid noted that China and Indonesia have vast cooperation potential in fields like green economy, new-energy development as well as digital economy, to bolster more high-quality economic and trade relationship between the two countries.
In terms of the current economic relations cooperation, Kao Kim Hourn said that China and ASEAN are already each other’s largest trading partner. “So with the upgrade to the CAFTA 3.0, I think it will bring our economic cooperation to new highs, particularly in new areas, like e-commerce,” he noted.
In May, China and 10 ASEAN countries fully completed negotiations on the Version 3.0 CAFTA, Xinhua reported. According to China’s Ministry of Commerce, CAFTA 3.0 will introduce nine new chapters covering areas such as the digital economy, the green economy and supply chain connectivity.
“Amid growing global economic uncertainty and rising protectionism, China and ASEAN are forging ahead in deepening their integration process, which stands out as a model of stability. This expo is also a vivid demonstration of the successful conclusion of the CAFTA 3.0 upgrade negotiations, which serves as both a witness to the increasingly close economic and trade relations between China and ASEAN and a regular platform for multilateral cooperation and exchange,” Wang Peng, associate research fellow at the Beijing Academy of Social Sciences, told the Global Times on Wednesday.
In the current international context of rising unilateralism, China remains steadfast in fulfilling its commitment to opening up, with its pragmatic cooperation injecting confidence and momentum into the stable development of not only ASEAN economies but also the global economy, Wang noted. –The Daily Mail-Global Times news exchange item
