The China-ASEAN business community is looking forward to consolidating the upward trend

As China has officially completed the ratification process of the Regional Comprehensive Economic Partnership (RCEP), many political and business people of ASEAN countries have expressed their expectation to expand inter-provincial cooperation with China through precise industrial alignment and jointly use the dividends of RCEP to maintain the positive trend of economic and trade cooperation with China.

The RCEP Industrial Cooperation Committee was established at the just-concluded "2021 China-ASEAN Spring Festival Cooperation Series Activities". Brunei Ambassador to China Rahmani said at the meeting that the Council will provide support from the business community to effectively promote industrial cooperation, tap the potential of regional cooperation and promote regional economic recovery.

"The year 2021 marks an important milestone in the 30th anniversary of ASEAN-China dialogue relations, and the two sides have great potential and prospects for the development of cooperation," he said. He said.

Brunei, which holds the rotating chair of ASEAN in 2021, proposed the ASEAN 2021 theme "Shared Concern, Shared Response, Shared Prosperity". "This is in line with the urgent task of promoting ASEAN's economic recovery in the fight against the epidemic, a challenging task that can only be achieved with the sustained and concerted efforts of ASEAN and its dialogue partners, including China," he said. "Rahmani said.

During the series of activities, China (Shanxi) - ASEAN Economic and Trade Cooperation Matchmaking Meeting was held. Representatives of ASEAN countries expressed their expectations to further tap the potential of economic and trade cooperation with China's provinces.

Cambodian Ambassador to China Kai Sisoda said that local governments play a positive role in the economic and trade cooperation between China and ASEAN countries. There is great potential for economic and trade cooperation between China's central region and ASEAN countries. The convening of this meeting will be conducive to promoting new development of economic and trade cooperation between China's central region and ASEAN countries, including Shanxi Province.

Lao Ambassador to China Kampao Ntawan said in his speech that the economic and trade cooperation between China's Shanxi Province and ASEAN countries including Laos are highly complementary and the convening of this meeting is of positive significance for enhancing mutual understanding and synergy and tapping cooperation potential. "This year marks the 60th anniversary of the establishment of diplomatic ties between China and Laos as well as the Year of China-Laos Friendship. The two countries are accelerating cooperation on all fronts. The China-Laos railway will be open to traffic at the end of this year. We suggest that Chinese enterprises, including those from Shanxi Province, pay attention to and seize the cooperation opportunities in investment, trade and tourism brought by the convenient transportation between the two countries."

Xu Ningning, Executive Director of ASEAN-China Business Council, put forward three suggestions on enhancing economic and trade cooperation between ASEAN-China Central Region. First, the two sides should actively connect with each other and tap into the potential of regional cooperation. Second, to strengthen industrial cooperation and develop complementary industrial advantages; Third, enterprises of both sides should fully grasp and make good use of the China-ASEAN free trade policy and the upcoming RCEP agreement. CCPIT and trade associations in central China may organize more online video conferences, including product talks and investment project promotion meetings.

Latest data show that ASEAN remained China's largest trading partner in the first quarter. As for how to maintain the steady growth of economic and trade cooperation, Xu Ningning suggested that China and ASEAN should focus on the recent cooperation, and need to focus on the common fight against the epidemic and economic recovery, which are the two major themes of bilateral cooperation. High-quality joint construction of "One Belt And One Road" should be integrated with ASEAN community development.

"This is an important step for our cooperation. We need to work together to open up the RCEP region, which is an effective way to open up more space for our cooperation. We need to enhance strategic mutual trust and achieve mutually beneficial development, which is the fundamental guarantee and driving force for our cooperation. At present, we need to synergise China's new development framework with the ASEAN Framework for Comprehensive Recovery in particular. This is what the two sides need to do to seize opportunities and respond to challenges." He said.