Investment deals galore at annual South and Southeast Asia convention

Over 40 agreements worth 609.3 billion yuan signed at the expo

A substantial number of trade and investment deals were made during the South and Southeast Asia Commodity Expo and Investment Fair that closed on June 18, showing the event's growing significance in boosting regional economic ties, according to a local official.

Jiang Xingming, deputy chief of the executive committee of the expo, said agreements on 407 projects were signed at the expo, with a total value of 609.3 billion yuan ($88.78 billion).

Representatives from more than 3,300 enterprises in 74 countries and regions, China's 20 provinces, municipalities and autonomous regions, as well as deputies of international organizations, have attended the expo, Jiang said.

Exhibitors from a variety of industries and regions displayed their products, technologies, solutions and services in 17 exhibition halls with a total area of 170,000 square meters.

Jiang said the event was also an important platform for promoting cooperation under the Belt and Road Initiative.

Many attendees said they are willing to work with Chinese partners to boost collaboration in many fields under the BRI framework, according to Jiang.

"As a cooperative platform for countries involved in the BRI, especially those in South Asia and Southeast Asia, the expo aims to forge practical collaborations in the areas of connectivity, trade, investment and people-to-people exchanges," Jiang said.

The BRI Investment Cooperation Hall was established for the first time during the expo.

It was the highlight of the event, as it displayed Yunnan's development in the past six years since the BRI was proposed, according to Yu Shukun, deputy chief of the Department of Commerce of Yunnan.

The hall was also a showcase of the province's business opportunities. On display were Yunnan's latest policies for investment, its advantages in resources, and local industrial zones.

The provincial department of commerce held nine investment matchmaking events at the hall, to introduce investment opportunities both in Yunnan and overseas.

With the theme of "a better gateway and powerhouse for shared development and prosperity", the expo was composed of 14 events, including dialogues and activities relating to economics, culture and arts.

On June 10, officials from governments of South Asia and regions beyond met in the city of Yuxi in Yunnan province for the second China-South Asia Cooperation Forum to discuss plans for a better future and regional cooperation.

They discussed issues relating to trade and investment, poverty reduction, culture and media.

Ruan Chengfa, governor of Yunnan province, delivered a speech saying that Yunnan is a gateway for China-South Asia cooperation because of its connectivity and deep economic and cultural links with the region.

He added Yunnan has deepened and extended cooperation with South Asia in governmental dialogues, trade, investment and culture.

"Since the first forum was held in June last year, new achievements have been made in cooperation between Yunnan and South Asia," the governor said. He added regional governmental cooperation will greatly contribute to similar cooperation at the state government level.

Yunnan is preparing to establish organizations to implement the action plans and agreements reached at the first and second forum, including a secretariat and liaison office.

The official website of the China-South Asia Cooperation Forum went online during the forum.

Another key event to promote intergovernmental cooperation is the Greater Mekong Subregion Economic Corridor Governors Forum, which opened on June 10 in Kunming.

The GMS, founded in 1992, is a regional cooperation program for six countries along the Mekong-Lancang River: China, Cambodia, Laos, Myanmar, Thailand and Vietnam.

At the GMS governors forum, Yunnan Governor Ruan called for concerted efforts in improving connectivity and strengthening construction of infrastructure for trade and investment.

People-to-people exchanges are another highlight of the event.

Events centering on this topic included forums on poverty reduction, the media, education and cultural cooperation, as well as fashion, arts and yoga festivals.

The 2019 China-South Asia and Southeast Asia Arts Week closing in June, for instance, offered local residents and expo attendees a chance to see various art forms from 12 countries.

During a weeklong fashion show from June 13-19, garment companies and designers in Yunnan displayed the ethnic clothes in the province to visitors from across the world.

(China Daily Global 06/25/2019 page10)