ASEAN Ministers agree to promote Maritime Silk Road
September 30, 2014 Category Logistics, Ports & sea transport
Economic and Trade Ministers of ASEAN countries have reached a consensus at a meeting in Nay Pyi Taw, Myanmar, to work with China to accelerate the development of the maritime Silk Road. Chen Yingming, Executive Vice President of the Shanghai-based China Port and Harbors Association, said that as a majority of ASEAN nations have long coastlines and important regional ports, this move will help link growth centers like Shanghai, Singapore and Penang in Malaysia, as well as develop new regional hubs, such as Jakarta in Indonesia and Danang in Vietnam. The maritime Silk Road begins in Fuzhou in Fujian province, and heads south into the ASEAN region. From the Malacca Strait, it then turns west to Europe, according to one version of the blueprint. China has maintained its position as ASEAN’s largest trading partner, with trade volume reaching USD350.5 billion at the end of 2013. The figure accounted for 14% of ASEAN’s total trade and represented an increase of 7.7% year-on-year. Last year, ASEAN received USD8.6 billion of direct investment from China, a significant 60.8% increase year-on-year and representing 7.1% of total inflow to ASEAN. Guangdong province plans to set up overseas trade offices in ASEAN countries as part of plans to improve business links. The province is also encouraging local enterprises to establish production bases, marketing networks and regional headquarters in ASEAN countries.
- KURT VANDEPUTTE (UMICORE) APPOINTED CHAIRMAN OF THE BOARD OF THE FLANDERS-CHINA CHAMBER OF COMMERCE (FCCC)
- Webinar: “Knowing Your Chinese Partner” – May 26, 2021, 10 am – 12 am
- EMA starts rolling review of CoronaVac, WHO approves Sinopharm vaccine for emergency use
- The Global Times warns not to politicize the Comprehensive Agreement on Investment (CAI)
- Hainan to become biggest duty-free market in the world