RCEP and Guangzhou Development Roundtable meeting was held

On December 29, the RCEP and Guangzhou Development Roundtable with the theme of “RCEP: Openness, Opportunities and Prospects” was held in Guangzhou. The meeting was hosted by the China-ASEAN Business Council and the Guangzhou Municipal Bureau of Commerce. Hu Hong, Deputy Mayor of Guangzhou, Cheng Yonghua, former Chinese ambassador to Japan, Xu Ningning, Executive President of the China-ASEAN Business Council, and ambassadors from Cambodia and Indonesia to China attended the meeting. During the meeting, Guangzhou Mayor Wen Guohui met with the guests.

Deputy Mayor Hu Hong stated in his speech that Guangzhou is currently working hard to build a central node city in the domestic big cycle and a strategically linked city with both domestic and international cycles. The signing of RCEP will definitely provide greater motivation and opportunities for Guangzhou to integrate into and create a new development pattern. Guangzhou and RCEP-related countries have infinite and broad cooperation space in terms of unblocking trade, promoting investment, opening markets to each other, and promoting the deep integration of the industrial chain, supply chain, and value chain of both parties.

Xu Ningning, the executive president, delivered a keynote speech at the meeting. Xu Ningning said that this meeting was the only one where representatives from RCEP’s 15 member states had attended offline within one and a half months since RCEP was signed, and business representatives from countries other than RCEP members also attended offline. The meeting was prepared in a short period of time, and the number of attendees exceeded expectations. It embodies the positive desire of the RCEP member states to cooperate and develop, and to move forward in the global epidemic and the severe global economic downturn. It also reflects the non-RCEP member states. Relevant countries are concerned about RCEP business opportunities. The convening of this meeting is conducive to Guangzhou to seize the opportunity of RCEP, a major regional opening and cooperation, to innovatively and pragmatically implement the “dual circular” economic development, and to practice the new situation to jointly build the “Belt and Road”.

Xu Ningning pointed out that an important part of the current RCEP construction is to actively strengthen industrial cooperation. RCEP countries negotiate and sign agreements, which are mainly institutional arrangements and the establishment of a new type of production relationship. There is an important link in achieving the goal of liberating productivity and promoting economic growth. It is through industrial cooperation to adjust the industrial structure of each country in the RCEP area. 1. Promote industrial upgrading and drive economic growth through industrial upgrading. At the same time, countries can reduce the concerns of industrial enterprises in individual countries about the possible industrial impacts of open markets through the use of industrial docking and cooperation to maximize their strengths and avoid weaknesses.

The Cambodian Ambassador to China expressed her gratitude to the China-ASEAN Business Council and the Guangzhou Municipal Bureau of Commerce for hosting this important seminar. China is Cambodia’s largest investment source and largest trading partner. The signing of RCEP will further promote the development of regional economy, trade and investment, create a more open market, increase employment opportunities, and help small and medium-sized enterprises from ASEAN countries enter the international market supply chain; it will help promote the diversification of Cambodian export products, tourism and For the development of related industries, Cambodia welcomes Chinese investors to invest in Cambodia.

The Indonesian Ambassador to Chin expressed his belief that this seminar will further strengthen the economic and trade relations between China and ASEAN, especially China and Indonesia. When Indonesia assumed the rotating presidency of ASEAN in 2011, Indonesia proposed the establishment of RCEP. The signing of RCEP fully demonstrates the positive momentum of regional development among member states and the confidence in deepening regional economic integration. It will play a greater role in the global value chain and further promote economic and trade development among member states. Indonesia hopes that the implementation of RECP will attract more Chinese investors to invest, especially in the digital economy and emerging industries.

Lv Kejian, former director of the Asia Department of the Ministry of Commerce, chairman of the Malaysia New Asia Strategic Research Center, chairman of the Singapore Manufacturers Association, director of the Japan External Trade Organization, chairman of the Korean Chamber of Commerce in Guangzhou, Peking University Global Connectivity Center Director, Vice President  of the Comprehensive Research Institute of Sun Yat-sen University Free Trade Zone, Deputy General Manager of China Telecom Guangzhou Branch, Vice Chairman of Guangdong Haida Group Co., Ltd., General Manager of Deloitte Guangdong Taxation And so on.

At the meeting, Gao Yuyue, Deputy Secretary-General of the Guangzhou Municipal Government, released the Blue Book of the “Report on the Development of Guangzhou’s Construction of an Important Hub City along the Belt and Road”.

Hong Qian, director of the Guangzhou Municipal Bureau of Commerce, said when presiding over the meeting that the purpose of this meeting is to seize the new opportunities brought by major regional open cooperation, in-depth interpretation and judgment of RCEP, and use RCEP’s market opening cooperation to develop trade and investment in Guangzhou and promote Guangzhou The city has participated in high-quality joint construction of the “Belt and Road” work to build a new higher-level open economic system. The signing of RCEP provides a huge opportunity for Guangzhou to promote high-level opening up. Guangzhou is also fully qualified to become an important hub of RCEP, contributing to the maintenance and prosperity of the regional economy.

Guangzhou and RCEP member countries are highly complementary in economy and trade. In 2019, the import and export between Guangzhou and RCEP member countries reached 347.2 billion yuan, accounting for 34.74% of Guangzhou’s import and export. In terms of attracting foreign investment, the RCEP member states actually used US$1.873 billion of foreign investment in Guangzhou in 2019, accounting for 26.20%. Guangzhou has invested 434 million US dollars in the RCEP national agreement, accounting for 23.74%. According to the statistics of Guangzhou Customs, from January to November 2020, imports and exports through Guangzhou Customs Area and other RCEP member countries increased by 9.4% year-on-year, accounting for 30% of the total foreign trade through Guangzhou Customs Area during the same period, which shows that Guangzhou and RCEP member countries The vitality of cooperation.

A total of 200 people from the ten ASEAN countries, Japan, South Korea, Australia, New Zealand and other countries in Guangzhou’s offices, heads of key business associations, representatives of domestic and foreign enterprises, industry business associations, well-known experts, scholars and news media reporters attended the meeting.

 

 

Source: China – ASEAN Business Council