Industrial parks a highlight of expo
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Delegates from China and ASEAN member countries talk about investment cooperation at the 12th CAEXPO in Nanning last year. |
The annual China-ASEAN Expo, inaugurated in 2004, provides a platform for cooperation on industrial parks between China and the members of the Association of Southeast Asian Nations.
In recent years, especially after the China-ASEAN Free Trade Area was launched in 2010, cooperation between China and the ASEAN members on industrial parks has become a highlight of the expo.
There have been a number of events designed for cooperation in this field every year, including a roundtable meeting for investment, promotions for industrial parks, and seminars on new policies relating to cross-border free trade zones.
Agreements on some milestone projects have been signed during previous expos.
During the eighth CAEXPO in 2011, an agreement was signed for the Sino-Malaysian Qinzhou Industrial Park, the first cooperative industrial park between the Chinese and Malaysian governments.
Then Chinese premier Wen Jiabao and Malaysian Prime Minister Najib Razak were present at the signing ceremony.
A joint venture between the two countries is responsible for the operation of the park, which has a total planned area of 55 square kilometers. The first phase covers 15 sq km.
In 2012, the Chinese and Malaysian governments signed an agreement on another joint industrial park, the Malaysia-China Kuantan Industrial Park in Malaysia.
The two parks are widely known among the business circle as the "twin parks for Sino-Malaysian cooperation".
Malaysian Prime Minister Najib said "the two parks are a new chapter in the relationship between our two countries: a relationship that has matured beyond expectations".
During the 12th CAEXPO last year, the two parks held a joint show to attract investment. Agreements on six large projects were signed at the show, with investment totaling 6.44 billion yuan ($968 million).
The 13th CAEXPO, to open on Sept 11, will also have a range of promotional activities for China-ASEAN industrial parks.
According to the event's organizers, there will be investment and service trade exhibition area during the expo, where the industrial parks will showcase their business opportunities.
huoyan@chinadaily.com.cn
(China Daily 09/01/2016 page10)
