Massive China-ASEAN expo showcases trade links
September 16, 2014, 6:27 am

Delegates attend the China-ASEAN Agricultural Science and Technology Forum in Nanning, capital of south China’s Guangxi Zhuang Autonomous Region, Sept. 15, 2014 [Xinhua]

A massive China-ASEAN Expo kicked off in Nanning, in southern China on Tuesday, with over 2300 companies from China and the Association of Southeast Asian Nations (ASEAN) attending the event.

Chinese Vice Premier Zhang Gaoli and leaders of the diverse and strategically key region, ASEAN countries attended the opening ceremony. Singapore is the “country of honour” this year at the expo.

With the theme of “Jointly building the 21st Century Maritime Silk Road”, the 4-day expo is hosting 4600 exhibitors, 1259 of them from ASEAN countries.

China is stepping up engagement with ASEAN even as the US repeatedly asserts its seriousness about the Asia Pivot policy announced by President Obama in 2009.

The US secretary of defence, Chuck Hagel said last month said there was a clear US interest in remaining present in the Asian region given the economic transformation under way in Asia, and the emergence of an “astounding” new middle class.

“We are a Pacific power, we aren’t going anywhere,” said Hagel.

China is the ASEAN’s largest trading partner, while ASEAN ranks as China’s third-largest trading partner. Bilateral trade between China and the ASEAN increased 10.9 per cent year on year to $443.61 billion in 2013, around 5.7 times that of 2003.

ASEAN and China also agreed last month to negotiate on upgrading the existing FTA to ensure the pact remains commercially relevant.

In 2013, ASEAN received $8.6 billion foreign direct investment (FDI) from China, a whopping 60.8 per cent increase year on year.

Earlier in August, ASEAN rebuffed a US proposal saying it was up to ASEAN to work with China to reduce tension in the South China Sea by improving compliance with a 2002 agreement, as they also work to conclude a binding Code of Conduct for maritime actions.

“It is up to ASEAN to encourage China to achieve a serious and effective implementation of this commitment, rather than ASEAN asking whether it should support or not support the (U.S.) proposal,” said Le Luong Minh, secretary-general of the 10-member ASEAN.

TBP and Agencies