12:18 | 08/10/2015 Trade
(VEN) - Gathering 2,207 businesses with 4,600 pavilions, including 1,300 pavilions of businesses from 10 ASEAN member countries, the 12th China-ASEAN Expo (CAEXPO 2015) took place in Nanning, China from September 18-21. It offered a good chance for ASEAN and non-ASEAN businesses to seek cooperation opportunities.
In his speech in front of representatives of 10 ASEAN member countries which have been CAEXPO co-organizers during the last 12 years, Chinese Vice-Premier Zhang Gaoli highly appreciated the importance of ASEAN to China in economic, political and cultural aspects. Trade between China and ASEAN grew from US$54.8 billion in 2002 to US$100 billion in 2004 and over US$480.38 billion in 2014. Last year marked the fourth consecutive year of China’s position as the largest trading partner for ASEAN. Chinese and ASEAN leaders are looking towards the US$1 trillion bilateral trade target set for 2020.
In recent years, economic, trade, tourism and investment cooperation between Vietnam and China has expanded, bringing practical benefits to both sides. Statistics from the Vietnamese General Statistics Office show that trade between the two countries in the first eight months of 2015 reached US$43.8 billion and is expected to exceed the US$60 billion target by the year’s end. China has been Vietnam’s largest trading partner for 11 consecutive years, and Vietnam has become the second largest ASEAN trading partner for China.
By the end of this August, China had 1,177 investment projects ongoing in Vietnam with total registered capital of US$8.48 billion, ranking ninth among 105 countries and territories investing in Vietnam. Chinese investment in Vietnam is concentrated in electricity, steel, textile, light industry, and agriculture. Major Chinese investment projects currently ongoing in Vietnam include Vinh Tan 1 coal-fired power plant, and Hanoi elevated railway line 2.
At a business meeting held on the sidelines of CAEXPO 2015, Chinese businesses showed great interest in Vietnamese agricultural products, seafood, food, consumer goods, and handicrafts, and expressed their wish to boost the export of products that were their advantages such as machinery and equipment to neighboring countries.
CAEXPO Deputy Secretary General Yang Yanyan said international cooperation was a topic that interested all countries participating in CAEXPO 2015, helping them bring into play the advantages of each country to promote mutual development. This was a common topic of CAEXPO 2015’s main activities. Exhibitions, forums and meetings in the framework of CAEXPO 2015 focused on the international manufacturing capabilities of each country and business.
CAEXPO 2015 coincided with the 12th China-ASEAN Business and Investment Summit (CABIS) and 27 seminars on the cooperation between China and ASEAN in a variety of fields such as investment, e-commerce, electricity, pharmaceuticals, mining, finance, and tourism, along with 81 trade and investment promotion programs of countries and businesses participating in CAEXPO 2015.
The Vietnamese delegation to CAEXPO 2015 consisted of more than 100 businesses from 22 provinces and cities. They were present in more than 200 pavilions. The Vietnamese delegation was the largest ASEAN delegation to the event and ranked second only behind the Chinese.