The 21st China-ASEAN Expo wrapped up recently, bringing together thousands of companies and organizers who noted significant advancements toward deepening ties and economic collaboration between China and ASEAN nations. Held in Nanning, the capital of Guangxi Zhuang Autonomous Region, the event was attended by prominent officials and entrepreneurs from various sectors, affirming its importance as a platform for fostering exchanges and turning ideas of mutual benefit and cooperation between China and ASEAN countries.
From September 26 to September 30, this year's expo and the concurrent China-ASEAN Business and Investment Summit redefined engagement metrics, showcasing 3,300 businesses across its massive exhibition area of 200,000 square meters. According to Wei Zhaohui, the secretary-general of the China-ASEAN Expo Secretariat, over 220,000 visits were recorded throughout the event, including the discussion and arrangement of 63 economic and trade activities and 45 tourism events, which set the tone for future partnerships.
One of the pivotal moments of the expo was the catchphrase “building a closer community with a shared future,” which resonates deeply with ASEAN’s growth ambitions. Wei emphasized the expo as a pivotal opportunity for leaders to evaluate the progress made and devise feasible plans for enhanced cooperation. The main takeaway was the expo's role as not just a marketplace but also as an incubator for fresh ideas across trade, investment, and cultural dialogue.
Malaysia was honored as the Country of Honor this year, which is noteworthy considering its increasing trade relationships within the region. This partnership particularly galvanized when agreements worth nearly 43 billion yuan (around $6.13 billion) were inked under the China-Malaysia “Two Countries, Twin Parks” framework. This plan aims to amplify economic cooperation by establishing overlapping zones of collaboration, particularly enhancing development synergies between these nations.
Further to the expo's success were the foundations laid for future collaboration, such as the launch of the CAEXPO Bluebook, which will examine economic landscapes and opportunities for participating countries, perpetuating growth and engagement.
Notably, the expo also introduced the China-ASEAN Young Leaders Growth Program, aiming to nurture the next generation of entrepreneurs, which found resonance among delegates and attendees alike. This initiative is set to offer support and training for the first batch of 30 selected talents, heightening the educational and professional ties between China and ASEAN countries.
On the sidelines, the expo hosted the ASEAN-Plus Three Industrial Chain and Supply Chain Partnering Conference, gathering nearly 400 high-profile delegates who shared insights on resilience strategies within regional supply chains. The results were promising, with over 200 potential collaborations valued at more than $2.7 billion identified through various matchmaking initiatives.
Not just trade-focused, the expo made efforts to spotlight cultural aspects as well. Local vocational training programs and traditional Chinese medicine demonstrations were part of the new sections aimed at enhancing people-to-people exchanges as part of the celebration of the 2024 China-ASEAN Year of People-to-People Exchanges. Wei commended initiatives like the cultural gift exchange conducted by China Daily's booth, which sought to strengthen mutual cultural appreciation and friendship.
Beyond the expo, discussions continued on various fronts of economic cooperation between nations. The recent Vietnam-China Economic and Trade Cooperation session held on September 29, co-chaired by Vietnam's Minister of Industry and Trade Nguyen Hong Dien and China’s Minister of Commerce Wang Wentao, exemplifies these developing ties. They initiated dialogues centered on digital and green economies, supporting shared developmental goals amid growing demands for sustainable solutions.
Minister Dien voiced Vietnam's commitment to enhancing investments, especially in electric vehicles and industrial parks, marking these as strategic priorities to facilitate smoother trade and investment navigation. He called for China’s support to open more markets for Vietnamese agricultural products like citrus fruits and durians, aiming to deepen agricultural ties.
On the technological frontier, the Global Digital Trade Expo, taking place around the CAEXPO, also injected vitality and focus toward digital commerce, helping Vietnamese enterprises explore e-commerce avenues, which is increasingly important for both markets. This merging of technological and industrial dialogues signals the push for not just economic growth, but also fostering innovation to navigate the digital transformation challenges facing nations today.
Meanwhile, Vietnam’s ambitions within regional trade have expanded, particularly through initiatives like the promotion of its fresh durian exports to China. Industry insiders predict a potential earning of $300 million from these exports by 2024, reliant on newly established protocols for plant quarantine which paves the path for increased bilateral agricultural commerce. This is illustrative of the growing agricultural connectivity occurring under the ever-evolving China-ASEAN trade relationships.
Looking forward, the next CAEXPO is preliminarily scheduled for September 17 - 21, with Myanmar set to be the Country of Honor, assuring continuity and momentum for future collaborations. The sectors set to benefit from these exchanges span numerous areas - from commerce and technology to cultural richness - reflecting the multifaceted nature of economic partnerships being forged.
These engagements at various expos and meetings underlie the significance of regional cooperation, showcasing how through trade, cultural exchanges, and strategic partnerships, countries can build resilient economies capable of withstanding future global pressures. The essence captured through these collaborative interactions reinforces the notion of shared growth and sustained engagement across the China-ASEAN corridor.
