News

Business chances from China-ASEAN FTA introduced in Tianjin

11/11/2014    19

BEIJING, Nov. 11 (Xinhuanet) -- China-ASEAN Business Council held a promotion meeting in Tianjin lately to introduce business chances from the upgraded China-ASEAN Free Trade Area (FTA) and construction of the Maritime Silk Road.

Executive president of the council Xu Ningning said,the Tianjin Commission of Commerce has set this year as the year of economic and trade cooperation with ASEAN, and launched bilateral economic and trade exchanges.

For instance,the Tianjin Eco-City is a flagship cooperation project between the two sides, which is also an example of Tianjin attracting foreign investment, Xu said.

Xu encouraged more Tianjin entrepreneurs to understand and invest in ASEAN countries.

According to the Tianjin Commission of Commerce, as of the end of 2013, Tianjin had set up 174 enterprises and institutions in ASEAN with investment totaling 2.38 billion U.S. dollars.

As of the end of September 2014, the ASEAN-invested projects totals 1240, with contract value added up to 9.6 billion U.S. dollars in the city.

From January to September 2014, the trade volume between Tianjin and ASEAN totaled 11 billion U.S. dollars, an increase of 6 percent from last year.

Song Wei, President of SM International Wholesale (China) Centre Sdn Bhd, introduced Malaysia's Port Klang International Trade and Halal Industry Development Center Project and its development plan.

Song had an in-depth exchange with entrepreneurs from Tianjin about the Maritime Silk Road and the vision of heralding in ten years of “diamond consolidation”in China-ASEAN cooperation.

The Port Klang will join hands with Chinese enterprises to build national brand and create a brilliant future, Song said. 

Source: Xinhua

More stories