HAND IN HAND TOWARDS PROSPERITY

HAND IN HAND TOWARDS PROSPERITY

At the Belt and Road Forum for International Cooperationheld in May, economic cooperation and industrial investment were heatedly discussed. Distinguished guests from ASEAN gathered in Beijing to introduce their respective countries’ economic development under the Belt and Road Initiative and bring forward their economic cooperation and investment needs. The promotion of unimpeded trade has helped facilitate trade between China and countries along the route, and also expanded two-way investment.

Along with the implementation of the Belt and Road Initiative, friendly relations and economic cooperation between China and ASEAN have entered a new stage of development, in which the Initiative, as a driving force of bilateral cooperation, is benef i ting and will continue to benef i t regional stability and economic growth. Taking advantage of platforms such as the China-ASEAN Expo, China-South Asia Expo and the Cross-Straits Fair for Economy and Trade, enterprises in China and ASEAN countries have joined hands to seize new business opportunities along with the construction of the 21st Century Maritime Silk Road, which indicates an eager desire for cooperation on both sides.

The Malaysian Chinese Association has set up a Belt and Road Center to help the country’s small and medium-sized enterprises expand markets and facilitate links between government and businesses. Vietnam hopes to align its “Two Corridors and One Economic Circle” plan with China’s Belt and Road Initiative. Indonesia’s implementation of its “global marine pivot”strategy needs the participation of Chinese capital and technology. Laos has signed an agreement with China to jointly promote key projects in capacity and investment cooperation. As Myanmar’s largest trading partner and investor, China is working to provide assistance to Myanmar’s 20-year national development plan. While the “made in China”, “built by China” and“served by China” initiatives have gained increasing popularity in ASEAN countries, a growing amount of products, services, technologies and capital are fl owing in the other direction — from ASEAN to China.