Kunming – The representative of the just-concluded South Asian and Southeast Asian Commodities Fair and Investment Fair said that the event brought more opportunities to China, South Asia and Southeast Asian countries.
The Commodity expo was held in Kunming, the capital of Yunnan Province from June 14th to 20th. The province is the main gateway for Southeast Asia and South Asia. In the process of promoting the “Belt and Road Initiative”, China has closer relations with the region.
The Commodity expo has six main exhibition areas, 17 pavilions and 7,500 standard booths, attracting exhibitors from 74 countries, regions and international organizations. A total of 3,348 domestic and foreign companies participated in the fair.
This year’s main guest country is Cambodia. Cambodia has established strong links with Yunnan Province in various fields such as health, education and tourism.
Chulon Dara, Secretary of State for the Ministry of Commerce of Cambodia, said that BRI provides a platform for international cooperation, promotes international exchanges, helps build a global economic system, and promotes international trade and investment.
According to statistics from Kunming Customs, the trade volume between Yunnan and members of the Association of Southeast Asian Nations increased by 13.6% year-on-year, reaching 44.2 billion yuan ($6.4 billion) in the first five months of this year. In the same period, trade with South Asian countries soared by 75.4% to more than 1.5 billion yuan.
Zhang Guohua, deputy governor of Yunnan Province, said that with the help of better transportation infrastructure and a number of cross-border cooperation projects, Yunnan has become more open.
Sithichai Jindaluang, deputy governor of Udon Thani Province, Thailand, said that infrastructure interconnection provides more opportunities for Thailand.
He said that the China-Laos-Thailand International Railway Corridor will promote trade and investment between the three countries.
Statistics show that in 2018, the total trade volume between Yunnan Province and the Greater Mekong Sub-region in southwestern China increased by 5.6% year-on-year.
Ruwan Edirisingh, president of the South Asian Association for Regional Cooperation and Industry, said that the Southeast Asia Commodities Fair and the China-South Asia Expo have promoted economic exchanges between China and South Asia. In recent years, China’s economy has maintained rapid growth. years.
South Asia has abundant natural resources, and China has obvious advantages in financial and industrial technology. Therefore, the two sides have great potential for cooperation. Ruwan Edirisingh said that Chinese companies will enjoy more preferential policies when investing in South Asia.
In 2018, the Commodity expo volume of China and South Asian countries was 140.1 billion yuan, a year-on-year increase of 10.5%.
Bangladeshi Minister of Commerce Tipu Munshi said that China has become Bangladesh’s largest trading partner and Bangladesh hopes that China will expand its investment in the country, especially in infrastructure and tourism.
Sune Detvongsa, deputy director of the Lao National Institute of Economic Research, said that e-commerce and the digital economy will become important drivers of regional economic growth and industrial transformation. Governments need to strengthen coordination and efforts to maximize the opportunities offered by regional cooperation and connectivity.
