China, Japan, ROK FMs meet in Beijing
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China, Japan, ROK FMs meet in Beijing
22 Aug 2019
Chinese State Councilor and Foreign Minister Wang Yi (C) poses for a group photo with the Republic of Korea (ROK) Foreign Minister Kang Kyung-wha (L) and Japanese Foreign Minister Taro Kono in Beijing, capital of China, Aug. 21, 2019. (Photo/Xinhua) The ninth meeting of foreign ministers of China, Japan and the Republic of Korea (ROK) was held Wednesday in Beijing, where they expressed willingness to promote cooperation. The meeting was chaired by Chinese State Councilor and Foreign Minister Wang Yi, and attended by ROK Foreign Minister Kang Kyung-wha and Japanese Foreign Minister Taro Kono. Wang said the 20-year history of China-Japan-ROK cooperation tells people that only by continuously enhancing mutual trust can cooperation develop in a stable and long-term manner, only by deepening the integration of interests can cooperation have a strong driving force, and only by properly handling differences can the overall situation of cooperation be ensured. Wang said the three countries should well maintain bilateral relations, respect each other's core interests and major concerns, and properly handle problems. He called on the three sides to strengthen cooperation in the fields of science and technology, big data, artificial intelligence and 5G, expressing hope that the ROK and Japan provide a fair, non-discriminatory and predictable business environment for enterprises from all over the world. Wang said the three sides should safeguard free trade, build an open world economy, play a due role in concluding the negotiations of the Regional Comprehensive Economic Partnership (RCEP) within this year, and promote new progress in the China-Japan-ROK free trade area negotiations. He also called for further achievement in China-Japan-ROK plus X cooperation and joint efforts for the high-quality construction of the Belt and Road. ROK and Japanese foreign ministers agreed to actively promote cooperation among the three countries, accelerate the negotiations of the RCEP and China-Japan-ROK free trade area, and jointly safeguard multilateralism and free trade. The three sides also exchanged views over the preparation work for the next meeting among the three countries' leaders, and reached consensus. Source: Xinhua News Agency
Star of August – National Chamber of Commerce and Services of Uruguay
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Star of August – National Chamber of Commerce and Services of Uruguay
20 Aug 2019
Brief Introduction to Uruguay Uruguay is located in the southeast region of South America, on the east bank of Uruguay River and La Plata River. Its capital city is Montevideo. Uruguay enjoys political stability, favorable geographical location, monetary easing policy and freedom from foreign exchange control, all of which contribute to an attractive environment for foreign investment. Uruguay has signed free trade agreement with many other South American countries, and serves as a bridge connecting China with South America. In recent years, the bilateral trade between Uruguay and China has been growing rapidly. Chinese investment in Uruguay has been constantly increasing in expanding areas. In 2018, the bilateral trade volume reached $4.62 billion US dollars. China is the largest trading partner of Uruguay and the largest importer of wool, beef, pulp and soybeans. Uruguay is the fifth largest soybean supplier to China. In April of 2019, a Mutual Recognition Agreement of the Authorized Economic Operator (AEO) between China and Uruguay Customs was signed. In August of 2018, the Memorandum on Joint Construction of the Belt and Road was signed between Uruguay and China, the first Mercosur country to do so. National Chamber of Commerce and Services of Uruguay The mission of the National Chamber of Commerce and Services of Uruguay is to stand up for the general interest of commerce and private business sector of the national economy, and to offer a wide range of services to promote legitimate businesses. Since its founding in 1867, the Chamber has organized various activities to promote the development of SMEs according to the following principles of action: · Continuous training of abilities and competences · Promote proactiveness to address new challenges · Fair Competition · Support the diversity of businesses and always put the public interest ahead · Develop the competitiveness of private sectors and advocate quality and corporate social responsibility. The Chamber represents more than 15,000 member enterprise across the country through its actions, policies, and participation in various national and international programs for cooperation and SMEs assistance. Some of these actions are to expand business network, enhance the role of education in creating a more entrepreneurial culture, develop education and training programs to facilitate access to information, introduce companies into new market opportunities, enhance competitiveness and support the long-term sustainability of companies and search for alternatives channels to promote technological innovation. Member companies can also access a range of services: international business school, family business centre, international trade promotion, Eurocentre Office of Promoting Business UE-Latin America (AL-INVEST IV), Latin American Association for promoting Export Services, intellectual property centre, assessment centers for economy, labour and taxes, think tank (to make proposals and plans of action on the main subjects concerning the country's national strategy), issuing of Certificates of Origin and Public Sector licitations. The National Chamber of Commerce and Services of Uruguay joined SRCIC as a correspondent on August 5, 2019, bringing the number of SRCIC member countries to 82. Recent activities 1. Seminar on the EU-MERCOSUR Agreement On July 11, the National Chamber of Commerce and Services of Uruguay and the International Business School co-sponsored a seminar on the EU-MERCOSUR Agreement. Mr. Julio César Lestido, President of the National Chamber of Commerce and Services of Uruguay, made a welcoming speech. He stressed the importance of the EU-MERCOSUR Agreement for Uruguay by saying that the only way to achieve substantial and steady economic growth was to open up to the world. He also expressed that the Chamber of Commerce, as the representative body of private sectors, should continue to play a leading role in the open economy. 2. Business opportunities in Southeast Asia: Malaysia On August 14, the National Chamber of Commerce and Services of Uruguay, the Economic Counsellor's Office of the Malaysian Embassy and the MERCOSUR-ASEAN Chamber of Commerce jointly held a meeting to promote the business opportunities in Malaysia. This meeting aimed to introduce Malaysian business environment and provide economic opportunities to Uruguayan companies. Malaysia enjoys a strategic location, high level of private investment, tax incentive system and is actively engaged in the affairs of the Association of Southeast Asian Nations (ASEAN). By the influence of the international integration of ASEAN, Malaysia has become one of the most dynamic economies in Asia and an economic gateway to the Asian continent.
BRI to bring new opportunities for young talents in Malaysia, China: official
BRI to bring new opportunities for young talents in Malaysia, China: official
19 Aug 2019
The China-proposed Belt and Road Initiative (BRI) will bring fresh opportunities for young talents in Malaysia and China as the cooperation between the two countries continue to deepen, a Malaysian official said here Friday. Speaking at the Talent Endowment Forum and Fair, Malaysian Deputy Minister of Agriculture and Agro-based Industry Sim Tze Tzin said the fruitful cooperation and ever closer economic exchange have created plenty of job opportunities for students and graduates in both Malaysia and China, since the bilateral relationship was established 45 years ago. The implementation of the BRI and the greater bilateral cooperation will involve more versatile talents from the two countries, Sim said. The forum gathered some 30 companies including Chinese enterprises in Malaysia. Source:Xinhua News Agency
Chinese enterprises' investment in B&R countries to maintain steady growth: Deloitte
Chinese enterprises' investment in B&R countries to maintain steady growth: Deloitte
19 Aug 2019
BEIJING, Aug. 19 (Xinhua) -- Chinese enterprises' investment in Belt and Road countries will maintain steady growth, and diversify its areas of cooperation, a Deloitte report showed. Deloitte and the Shanghai Municipal Commission of Commerce (SMCC) jointly issued the second Belt and Road Countries Investment Index Report, highlighting the latest trends in Belt and Road Initiative (BRI) investment during 2017 and 2018. The report noted that China plays an increasingly important role in facilitating Belt and Road countries' economic development by deepening trade ties, improving cooperation mechanisms and expanding areas of cooperation. It pointed out that apart from traditional industries such as power, oil and petrochemicals, and transportation construction, the investment focus of Chinese enterprises will extend to sectors including leasing and business services, financial services, wholesale and retail, and new and high technology. The report indicated the overall investment attractiveness of Belt and Road countries has risen, particularly in Southeast Asia, but the risks have also increased. In 2017, Deloitte and the SMCC issued the first Belt and Road Countries Investment Index Report. With substantial changes in the economic, commercial and investment environment in 2018, there was substantial progress in BRI cooperation, the latest report said. Source: Xinhua
China's outbound investment in B&R countries totaled 7.97 billion dollars in Jan-July
China's outbound investment in B&R countries totaled 7.97 billion dollars in Jan-July
16 Aug 2019
China's non-financial outbound direct investment (ODI) maintained steady growth in the first seven months of the year, official data showed Thursday. Non-financial ODI in 153 countries and regions amounted to 432.92 billion yuan (about 61.6 billion U.S. dollars) in the period, up 3.3 percent year on year, according to the Ministry of Commerce. In July alone, the ODI surged 25.5 percent year on year to 68.06 billion yuan. During the first seven months, Chinese companies added a total of 7.97 billion dollars of investment in 52 countries participating in the Belt and Road Initiative, accounting for 12.5 percent of the total. The structure of outbound investment continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, wholesale and retail as well as mining. "No new projects were reported in sectors such as property development, sports and entertainment," the statement said. The value of newly signed overseas contracts hit 820.1 billion yuan during the first seven months, up 1.9 percent year on year. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 436 during the period, up 18 from a year earlier. Major overseas projects were bringing mutual benefits. By the end of last month, Chinese companies had provided 812,000 jobs for local people, the statement added. Source: Belt and Road Portal
BRI a symphony being played by all countries Arab official
BRI a symphony being played by all countries Arab official
16 Aug 2019
"The Belt and Road Initiative (BRI) is for the good of humankind,” said Mahmoud H. Elamin, head of the Mission of the League of Arab States in Beijing, during a recent interview with People's Daily Online. China and the Arab world have forged deep and historic relations for centuries, since the ancient Silk Road was first explored. In 2014, this relationship reached new heights as President Xi Jinping put forward the idea to jointly advance the BRI with Arab countries during the Sixth Ministerial Meeting of the China-Arab States Cooperation Forum (CASCF). So far, 18 Arab nations have inked cooperation deals on BRI with China. Under the framework of BRI, Arab states and China have witnessed extensive cooperation in such fields as infrastructure, energy, investment and trade guided by the principles of extensive consultations, joint contribution and shared benefits, said Elamin, noting that the volume of trade between China and the Arab world now totals $200 billion a year. Several projects have already been carried out, such as the Hassyan Clean Coal Power Plant in Dubai, Attarat Oil Shale Power Plant in Jordan, and China-Egypt Suez Economic and Trade Cooperation Zone, he added. The BRI, Elamin explained, accords with the development strategies of many Arab countries, such as Saudi Arabia’s Vision 2030 and Jordan's 2025 Vision, laying a solid foundation for stronger synergy of BRI cooperation between China and Arab countries. "This initiative will go in line with the aspirations of many countries in the world, especially when we are talking about sustainable development, and the vision of the UN's 2030 Agenda. This initiative will also provide necessary resources to achieve the sustainable development of all projects, especially in the developing world,” said Elamin. This year, the cooperation was lifted to a higher level as the second Belt and Road Forum for International Cooperation (BRF) was successfully held in Beijing in April, attracting wide attention from Arab states as well as sending a positive message of strengthening international economic cooperation and building an open global economy. "I remember one very important phrase said by [China's] Foreign Minister. He said that the BRI is not a solo; it's a symphony that is being played by all countries,” said Elamin. The Arab official also highly praised the achievements China has made in the past few decades, especially since the reform and opening-up 40 years ago. "Nobody imagined that China could achieve all this development within such a limited time. This development is not only limited to one aspect; it is in every aspect of life, such as poverty alleviation, the general economic situation, high-tech and openness with other parts of the world,” he said, expressing his belief that China will make greater contributions to global development and prosperity. "The BRI might have begun in China, but its opportunities and outcomes belong to the world. I believe that this initiative is going to have far-reaching positive consequences for the whole world,” he said. Source: People's Daily Online
Former Slovenian President Türk interviewed by CGTN at SRCIC Beijing Office
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Former Slovenian President Türk interviewed by CGTN at SRCIC Beijing Office
12 Aug 2019
On August 10, former Slovenian President Türk was interviewed by China Global Television Network (CGTN) at the SRCIC Beijing Office. The full context is as below: The thundering trade war between China and the U.S. shows no sign of cooling down. The latest round of escalation came when the United States threatened to slap 10 percent tariff on an additional 300 billion U.S. dollars of Chinese goods and China responded by suspending new imports of American agricultural goods. China and the U.S. are still far from reaching a consensus, but the consensus of the world at large is: the trade war is wreaking havoc the global economy. "The global development has already started to slow down. Slowing down in parts of Europe has already been felt, including in Germany,” said former President of Slovenia Danilo Türk. "All of that is not a very good promise for the future. So we in Europe would very much like this policy of tariffs currently pursued by the United States to be reversed,” Türk said in a CGTN interview. China is far from being the only target of U.S. President Donald Trump. Trump has or threatens to slap tariffs on other countries as well, in favor of American industries. "The tariffs as a way of regulating international trade is a blunt and old fashioned instrument,” Türk criticized, adding that "There are many more sophisticated ways of promoting trade and creating an appropriate balance in global trade." Studies show that tariff might boost United States' industry in short term, but will hurt consumers, which offset its benefit. The United States imposed tariffs on Chinese tires during the Obama Administration. Research by the Peterson Institute shows that tariff created about 1,200 jobs for American tire industry. That's pretty much the maximum number of jobs the tariffs could have created, the study shows. But the Peterson Institute research found out that those jobs cost about 1.1 billion U.S. dollars, all borne by American consumers, who had to pay higher prices for tires. Türk stressed that the landscape of global trade has changed. Now the time has come for trade in services, in investment measures, and in intellectual property, which are areas that will allow international trade to become more sophisticated, said Türk. "Now President Donald Trump's measures have put this progress at risk,” he added. "Trade war is very bad for global growth, for individual economies, for the international system of trade, and eventually for the United States,” Türk warned. Source: cgtn.com
SRCIC Chairman Visits ACCIC President Gao Yunlong
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SRCIC Chairman Visits ACCIC President Gao Yunlong
5 Aug 2019
On August 5 of 2019, SRCIC Chairman Lu Jianzhong and Dr. Adrian Cheng Chi-Kong, Executive Vice Chairman and General Manager of the New World Development Company Limited, SRCIC's strategic partner, paid a visit to Gao Yunlong, Vice Chairman of the CPPCC National Committee and President of All-China Chamber of Industry and Commerce (ACCIC). Chairman Lu briefed the development history of SRCIC and major SRCIC events and projects, including the Silk Road Business Summits and Silk Road Sunshine Fund Program. Chairman Lu expressed his willingness to join hands with New World Group to set up a special fund under the China Foundation for Peace and Development. The fund aims to sponsor the economic and cultural activities related to Belt and Road Initiative (BRI), to build a mechanism and platform for dialogue, exchange and pragmatic cooperation between China and foreign countries, and to support projects involving medical treatment, education, vocational training, building roads and drilling wells in Belt and Road countries and regions to benefit local people. President Gao warmly welcomed the SRCIC delegation. He encouraged Dr. Adrian Cheng to carry forward his family's patriotism for China and Hong Kong and the devotion to public welfare. Domestically, the New World Group is encouraged to integrate itself into the national development strategy, to expand investment in the mainland and to be more involved in state governance and Hong Kong's social affairs, to contribute to China's economic development and Hong Kong's prosperity and stability. Internationally, Gao encouraged the New World Group to actively participate in the BRI construction, to promote peoples' mutual understanding and the understanding of the BRI concept, and to build a solid foundation for the high-quality development of BRI for a community of shared future for mankind. SRCIC Deputy Secretary General Wang Yan also joined the visit.
BCCI President visits SRCIC Beijing Office
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BCCI President visits SRCIC Beijing Office
5 Jul 2019
Bulgarian President Rumen Radevis onhis state visit to China at the invitation of Chinese President Xi Jinping from July 1 to 5 during which he attended the 2019 Summer Davos Forum. Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry (BCCI), led the business delegation in accompanyingPresident Rumen Radev. On July 2, BCCI andChinaCouncil for the Promotion of International Trade (CCPIT)Dalian Sub-Counciljointly held the Bulgaria-China (Dalian) Business Forumand signed cooperativeagreement during the 2019 Summer Davos Forum. 21 enterprisesfromBulgarian business delegation held "one-to-one" talks with more than 100 enterprises of Dalian city. On July 3, a delegation led by Tsvetan Simeonov, President of BCCI, visited SRCIC Beijing office. SRCIC Deputy Secretary General Wang Yan received the delegation. BCCI President Tsvetan Simeonov (L2) and SRCIC Deputy Secretary General Wang Yan (R2) Tsvetan Simeonov gave a detailed introduction of BCCI and the investment situation of Chinese enterprises in Bulgaria. He hoped to introduce more Chinese high-tech enterprises to invest in Bulgaria. Deputy Secretary General Wang Yan introduced the organization structure of SRCIC, in particular the professional committees and the services provided to its members. In the afternoon, the Bulgarian Embassy in China held the "China-Bulgaria Business Forum" in Beijing. Bulgarian President Rumen Radev, BulgarianAmbassador to China Grigor Porozhanov,BCCI President Tevitan Seminov, and China International Chamber of Commerce Secretary General Yu Jianlong attended the Forum and delivered opening speeches. An enterprisesmatchmaking meeting was also held during the Forum. Forum Scenes
Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
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Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
4 Jul 2019
Ms. Iraz, business representative of Çalık Holding Group in China (L) and Ms. Tian Xiaohong, SRCIC Deputy Secretary General (R) On July 4, Ms. Iraz, business representative of Çalık Holding Group in China visited SRCIC Shanghai Office and Hongqiao Overseas Trading Center accompanied by Ms. Tian Xiaohong. The two sides discussed the issues pertaining to the establishment of an office in Shanghai for Çalık Holding Group. Ms. Tian Xiaohong gave a detailed briefing on the relevant situation of Hongqiao Overseas Trade Center, and said SRCIC Shanghai Office could offer a help for Çalık Holding Group to participate in China International Import Expo. “We are also willing to recommend the most appropriate office for Çalık Holding Group in Shanghai, provide consultation with the relevant preferential policies of the government and assistance in visa application, taxation, finance, business registration, legal affairs, etc.”Ms. Tian Xiaohong said. Ms. Iraz said that she is very grateful for the warm reception of SRCIC, and she would submit a formal report to the high management level of Çalık Holding Group to confirm final location and details.
Seminar on Investment Opportunities between Thailand and Shaanxi Province held in Xi’an
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Seminar on Investment Opportunities between Thailand and Shaanxi Province held in Xi’an
2 Jul 2019
On July 2, the Seminar on Investment Opportunities between Thailand and Shaanxi Province was successfully held in Xi'an with the full assistance ofSRCIC. The Seminar aims to enhance the exchanges between Thailand and Shaanxi province in investment policies, environment and opportunities, to build a platform for cooperation, and to promote Shaanxi enterprises to "go out" in Thailand. More than 150 representatives of Thai and Shaanxi entrepreneurs attended the Seminar, and SRCIC Deputy Secretary General Diane Bian was invited to attend. Ms. Oracha Tanakorn, Consul General, Royal Thai Consulate-General in Xi'an and Mr. Li Jianhua, Vice President of China Council for the Promotion of International Trade (CCPIT)Shaanxi Sub-Council delivered speeches at the Seminar. Mr. Li Jin, Secretary General of the Chongqing International Chamber of Commerce presided over the Seminar. Ms. Oracha Tanakorn, Consul General, Royal Thai Consulate-General in Xi'an delivering the speech At the Seminar, Ms. Wu Yiyi, Director of the Shanghai Office of the Investment Promotion Board of Thailand, introduced the latest investment policies and opportunities in Thailand. Mr. Tsai Wai Tsai, Senior Vice PresidentofGlobal Business Divisionof Kasikornbank of Thailand, gave a presentation on Thai finance, investment policy and services. After the Seminar, the members of the Thai Investment Committee accompanied by SRCIC staffs visited Xi'anlocal enterprises.
Lebanese Fransabank Representative called on SRCIC Shanghai Office
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Lebanese Fransabank Representative called on SRCIC Shanghai Office
1 Jul 2019
On 1 July, WalidDaouk, Former Information Minister of LebanonandBoard Member of FransabankGroup, called on SRCIC Shanghai Office. SRCIC Deputy Secretary General Ms. Tian Xiaohongheld a friendly talk with WalidDaouk. SRCIC Deputy Secretary General Tian Xiaohong(L3) and WalidDaouk(R3) WalidDaouksaid it was his second visit to Shanghai since 2012and he marveled at breathtaking changesof the city. Nowadays, China has become a hugemarket with the increasing growth. Walid Daouk alsoconveyed the greeting of AdnanKassar, Chairman and CEO of Fransabank Group andHonorary Chairman of SRCIC.He said Chairman Kassar specially requested him to visit SRCIC Shanghai Officethis time, hoping SRCICand the Kassarfamily will always be close to each other and will fully support mutualdevelopment. Ms. Tian Xiaohongand Mr. WalidDaoukexchanging gifts Deputy Secretary General Ms. Tian Xiaohongexpressed hergratitude to Chairman Kaasarfor thesupport, care and helpto SRCIC, especially for the warm reception of the delegation led by SRCIC ChairmanLu Jianzhongand Secretary General Li Zhonghangto Lebanon.“The deepening of China's opening uptotheworld provides opportunities for Fransabank to embark on the Chinese market.SRCIC Shanghai Officewill giveall its strengthtoofferassistance andprovide the latest and preferentialpoliciesto Fransabank .”Ms. Tian added. Walid Daoukinvited Ms. Tian Xiaohong to visit Lebanon in the future.Ms. Tian received the warm invitation by expressingthat she will bring a delegation of Chinese enterprises to Lebanonasan opportunitytoincrease culturaland commercial exchanges.She also iteratedthat SRCIC is willing to act as a bridge and a tie to match the projects between two countries. Both two sides praised theefficacy ofmeetinghoping to have the deepened cooperation. Ms. Tian Xiaohongand Mr. Walid Daoukarelooking forward to seeing each otheragain at the 2019 Silk Road Business(Hong Kong) Summit in early December.
China, Japan, ROK FMs meet in Beijing
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China, Japan, ROK FMs meet in Beijing
22 Aug 2019
Chinese State Councilor and Foreign Minister Wang Yi (C) poses for a group photo with the Republic of Korea (ROK) Foreign Minister Kang Kyung-wha (L) and Japanese Foreign Minister Taro Kono in Beijing, capital of China, Aug. 21, 2019. (Photo/Xinhua) The ninth meeting of foreign ministers of China, Japan and the Republic of Korea (ROK) was held Wednesday in Beijing, where they expressed willingness to promote cooperation. The meeting was chaired by Chinese State Councilor and Foreign Minister Wang Yi, and attended by ROK Foreign Minister Kang Kyung-wha and Japanese Foreign Minister Taro Kono. Wang said the 20-year history of China-Japan-ROK cooperation tells people that only by continuously enhancing mutual trust can cooperation develop in a stable and long-term manner, only by deepening the integration of interests can cooperation have a strong driving force, and only by properly handling differences can the overall situation of cooperation be ensured. Wang said the three countries should well maintain bilateral relations, respect each other's core interests and major concerns, and properly handle problems. He called on the three sides to strengthen cooperation in the fields of science and technology, big data, artificial intelligence and 5G, expressing hope that the ROK and Japan provide a fair, non-discriminatory and predictable business environment for enterprises from all over the world. Wang said the three sides should safeguard free trade, build an open world economy, play a due role in concluding the negotiations of the Regional Comprehensive Economic Partnership (RCEP) within this year, and promote new progress in the China-Japan-ROK free trade area negotiations. He also called for further achievement in China-Japan-ROK plus X cooperation and joint efforts for the high-quality construction of the Belt and Road. ROK and Japanese foreign ministers agreed to actively promote cooperation among the three countries, accelerate the negotiations of the RCEP and China-Japan-ROK free trade area, and jointly safeguard multilateralism and free trade. The three sides also exchanged views over the preparation work for the next meeting among the three countries' leaders, and reached consensus. Source: Xinhua News Agency
BRI to bring new opportunities for young talents in Malaysia, China: official
BRI to bring new opportunities for young talents in Malaysia, China: official
19 Aug 2019
The China-proposed Belt and Road Initiative (BRI) will bring fresh opportunities for young talents in Malaysia and China as the cooperation between the two countries continue to deepen, a Malaysian official said here Friday. Speaking at the Talent Endowment Forum and Fair, Malaysian Deputy Minister of Agriculture and Agro-based Industry Sim Tze Tzin said the fruitful cooperation and ever closer economic exchange have created plenty of job opportunities for students and graduates in both Malaysia and China, since the bilateral relationship was established 45 years ago. The implementation of the BRI and the greater bilateral cooperation will involve more versatile talents from the two countries, Sim said. The forum gathered some 30 companies including Chinese enterprises in Malaysia. Source:Xinhua News Agency
Chinese enterprises' investment in B&R countries to maintain steady growth: Deloitte
Chinese enterprises' investment in B&R countries to maintain steady growth: Deloitte
19 Aug 2019
BEIJING, Aug. 19 (Xinhua) -- Chinese enterprises' investment in Belt and Road countries will maintain steady growth, and diversify its areas of cooperation, a Deloitte report showed. Deloitte and the Shanghai Municipal Commission of Commerce (SMCC) jointly issued the second Belt and Road Countries Investment Index Report, highlighting the latest trends in Belt and Road Initiative (BRI) investment during 2017 and 2018. The report noted that China plays an increasingly important role in facilitating Belt and Road countries' economic development by deepening trade ties, improving cooperation mechanisms and expanding areas of cooperation. It pointed out that apart from traditional industries such as power, oil and petrochemicals, and transportation construction, the investment focus of Chinese enterprises will extend to sectors including leasing and business services, financial services, wholesale and retail, and new and high technology. The report indicated the overall investment attractiveness of Belt and Road countries has risen, particularly in Southeast Asia, but the risks have also increased. In 2017, Deloitte and the SMCC issued the first Belt and Road Countries Investment Index Report. With substantial changes in the economic, commercial and investment environment in 2018, there was substantial progress in BRI cooperation, the latest report said. Source: Xinhua
China's outbound investment in B&R countries totaled 7.97 billion dollars in Jan-July
China's outbound investment in B&R countries totaled 7.97 billion dollars in Jan-July
16 Aug 2019
China's non-financial outbound direct investment (ODI) maintained steady growth in the first seven months of the year, official data showed Thursday. Non-financial ODI in 153 countries and regions amounted to 432.92 billion yuan (about 61.6 billion U.S. dollars) in the period, up 3.3 percent year on year, according to the Ministry of Commerce. In July alone, the ODI surged 25.5 percent year on year to 68.06 billion yuan. During the first seven months, Chinese companies added a total of 7.97 billion dollars of investment in 52 countries participating in the Belt and Road Initiative, accounting for 12.5 percent of the total. The structure of outbound investment continued to improve, with investment mainly going into sectors including leasing and business services, manufacturing, wholesale and retail as well as mining. "No new projects were reported in sectors such as property development, sports and entertainment," the statement said. The value of newly signed overseas contracts hit 820.1 billion yuan during the first seven months, up 1.9 percent year on year. The number of newly signed overseas projects with a contract value exceeding 50 million dollars came in at 436 during the period, up 18 from a year earlier. Major overseas projects were bringing mutual benefits. By the end of last month, Chinese companies had provided 812,000 jobs for local people, the statement added. Source: Belt and Road Portal
BRI a symphony being played by all countries Arab official
BRI a symphony being played by all countries Arab official
16 Aug 2019
"The Belt and Road Initiative (BRI) is for the good of humankind,” said Mahmoud H. Elamin, head of the Mission of the League of Arab States in Beijing, during a recent interview with People's Daily Online. China and the Arab world have forged deep and historic relations for centuries, since the ancient Silk Road was first explored. In 2014, this relationship reached new heights as President Xi Jinping put forward the idea to jointly advance the BRI with Arab countries during the Sixth Ministerial Meeting of the China-Arab States Cooperation Forum (CASCF). So far, 18 Arab nations have inked cooperation deals on BRI with China. Under the framework of BRI, Arab states and China have witnessed extensive cooperation in such fields as infrastructure, energy, investment and trade guided by the principles of extensive consultations, joint contribution and shared benefits, said Elamin, noting that the volume of trade between China and the Arab world now totals $200 billion a year. Several projects have already been carried out, such as the Hassyan Clean Coal Power Plant in Dubai, Attarat Oil Shale Power Plant in Jordan, and China-Egypt Suez Economic and Trade Cooperation Zone, he added. The BRI, Elamin explained, accords with the development strategies of many Arab countries, such as Saudi Arabia’s Vision 2030 and Jordan's 2025 Vision, laying a solid foundation for stronger synergy of BRI cooperation between China and Arab countries. "This initiative will go in line with the aspirations of many countries in the world, especially when we are talking about sustainable development, and the vision of the UN's 2030 Agenda. This initiative will also provide necessary resources to achieve the sustainable development of all projects, especially in the developing world,” said Elamin. This year, the cooperation was lifted to a higher level as the second Belt and Road Forum for International Cooperation (BRF) was successfully held in Beijing in April, attracting wide attention from Arab states as well as sending a positive message of strengthening international economic cooperation and building an open global economy. "I remember one very important phrase said by [China's] Foreign Minister. He said that the BRI is not a solo; it's a symphony that is being played by all countries,” said Elamin. The Arab official also highly praised the achievements China has made in the past few decades, especially since the reform and opening-up 40 years ago. "Nobody imagined that China could achieve all this development within such a limited time. This development is not only limited to one aspect; it is in every aspect of life, such as poverty alleviation, the general economic situation, high-tech and openness with other parts of the world,” he said, expressing his belief that China will make greater contributions to global development and prosperity. "The BRI might have begun in China, but its opportunities and outcomes belong to the world. I believe that this initiative is going to have far-reaching positive consequences for the whole world,” he said. Source: People's Daily Online
New int'l land-sea trade corridor to boost western growth
New int'l land-sea trade corridor to boost western growth
16 Aug 2019
China is developing a new land-sea corridor in its western region in a bid to speed the opening-up and high-quality development of the region and deepen international economic and trade cooperation, the country's top economic planner announced on Thursday. The development plan, unveiled by the National Development and Reform Commission on its website, aims to build an economical, efficient, convenient, green and safe land-sea corridor for the western region. By 2035, the new land-sea corridor will be fully completed, with better transportation capacity and world-class customs clearance and logistics services, officials said. The new land-sea corridor will extend primarily from Chengdu in Sichuan province and Chongqing to a group of Beibu Gulf ports in the Guangxi Zhuang autonomous region and Yangpu Port in Hainan province. It also will better connect China's inland northwestern region to major ports in the south. The new route includes a network of railways, roads and air connections, with Chongqing and Chengdu serving as two key logistics hubs. Experts said the plan will help give full play to the unique regional advantages of the western areas and create new strategic anchors for their opening-up and development. It also will form a key corridor connecting the Silk Road Economic Belt, the 21st Century Maritime Silk Road and the Yangtze River Economic Belt. Chen Liuqin, founder and director-general of Beijing-based Qin Dian Think Tank, said building a new land-sea corridor is of great significance. It will be mutually reinforcing with other national strategic plans and form multifield, multilevel and multichannel bilateral ties with economies involved in the Belt and Road Initiative. "The corridor will deepen the connection between the northwestern areas and the southwestern region. Its multimodal transportation will help shorten transportation times and reduce costs, fostering a promising future for economic and trade development," Chen said. "From a long-term perspective, the new corridor will connect different strategic regions in the nation and closely link the vast western inland regions to the vibrant Southeast Asia market. The route will significantly boost connectivity between China and the Association of Southeast Asian Nations and further promote the two sides' economic and trade cooperation." Mei Xinyu, a researcher at the Chinese Academy of International Trade and Economic Cooperation, said, "The new route will help boost both domestic and international trade." "Compared with the traditional route via the North China region, the new route offers a new path to further connect the northwestern region with ASEAN countries, allowing the inland region to benefit from the development of the China-ASEAN Free Trade Area. Under the plan, goods from ASEAN countries will be able to be transported to the Central Asia market via the route, which will bring new development opportunities for the northwestern China region," Mei added. Also, in May, Chongqing and eight provinces and autonomous regions in western China-Guangxi, Guizhou, Gansu, Qinghai, Xinjiang, Yunnan, Ningxia and Shaanxi-signed an agreement to build the New International Land-Sea Trade Corridor. That corridor is being jointly built by the western Chinese provincial areas and ASEAN countries under the framework of the China-Singapore (Chongqing) Demonstration Initiative on Strategic Connectivity, which the two sides signed in 2015. Source: China Daily
Star of August – National Chamber of Commerce and Services of Uruguay
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Star of August – National Chamber of Commerce and Services of Uruguay
20 Aug 2019
Brief Introduction to Uruguay Uruguay is located in the southeast region of South America, on the east bank of Uruguay River and La Plata River. Its capital city is Montevideo. Uruguay enjoys political stability, favorable geographical location, monetary easing policy and freedom from foreign exchange control, all of which contribute to an attractive environment for foreign investment. Uruguay has signed free trade agreement with many other South American countries, and serves as a bridge connecting China with South America. In recent years, the bilateral trade between Uruguay and China has been growing rapidly. Chinese investment in Uruguay has been constantly increasing in expanding areas. In 2018, the bilateral trade volume reached $4.62 billion US dollars. China is the largest trading partner of Uruguay and the largest importer of wool, beef, pulp and soybeans. Uruguay is the fifth largest soybean supplier to China. In April of 2019, a Mutual Recognition Agreement of the Authorized Economic Operator (AEO) between China and Uruguay Customs was signed. In August of 2018, the Memorandum on Joint Construction of the Belt and Road was signed between Uruguay and China, the first Mercosur country to do so. National Chamber of Commerce and Services of Uruguay The mission of the National Chamber of Commerce and Services of Uruguay is to stand up for the general interest of commerce and private business sector of the national economy, and to offer a wide range of services to promote legitimate businesses. Since its founding in 1867, the Chamber has organized various activities to promote the development of SMEs according to the following principles of action: · Continuous training of abilities and competences · Promote proactiveness to address new challenges · Fair Competition · Support the diversity of businesses and always put the public interest ahead · Develop the competitiveness of private sectors and advocate quality and corporate social responsibility. The Chamber represents more than 15,000 member enterprise across the country through its actions, policies, and participation in various national and international programs for cooperation and SMEs assistance. Some of these actions are to expand business network, enhance the role of education in creating a more entrepreneurial culture, develop education and training programs to facilitate access to information, introduce companies into new market opportunities, enhance competitiveness and support the long-term sustainability of companies and search for alternatives channels to promote technological innovation. Member companies can also access a range of services: international business school, family business centre, international trade promotion, Eurocentre Office of Promoting Business UE-Latin America (AL-INVEST IV), Latin American Association for promoting Export Services, intellectual property centre, assessment centers for economy, labour and taxes, think tank (to make proposals and plans of action on the main subjects concerning the country's national strategy), issuing of Certificates of Origin and Public Sector licitations. The National Chamber of Commerce and Services of Uruguay joined SRCIC as a correspondent on August 5, 2019, bringing the number of SRCIC member countries to 82. Recent activities 1. Seminar on the EU-MERCOSUR Agreement On July 11, the National Chamber of Commerce and Services of Uruguay and the International Business School co-sponsored a seminar on the EU-MERCOSUR Agreement. Mr. Julio César Lestido, President of the National Chamber of Commerce and Services of Uruguay, made a welcoming speech. He stressed the importance of the EU-MERCOSUR Agreement for Uruguay by saying that the only way to achieve substantial and steady economic growth was to open up to the world. He also expressed that the Chamber of Commerce, as the representative body of private sectors, should continue to play a leading role in the open economy. 2. Business opportunities in Southeast Asia: Malaysia On August 14, the National Chamber of Commerce and Services of Uruguay, the Economic Counsellor's Office of the Malaysian Embassy and the MERCOSUR-ASEAN Chamber of Commerce jointly held a meeting to promote the business opportunities in Malaysia. This meeting aimed to introduce Malaysian business environment and provide economic opportunities to Uruguayan companies. Malaysia enjoys a strategic location, high level of private investment, tax incentive system and is actively engaged in the affairs of the Association of Southeast Asian Nations (ASEAN). By the influence of the international integration of ASEAN, Malaysia has become one of the most dynamic economies in Asia and an economic gateway to the Asian continent.
Colombian Chinese Investment and Commerce Chamber visits SRCIC Beijing Representative Office
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Colombian Chinese Investment and Commerce Chamber visits SRCIC Beijing Representative Office
2 Aug 2019
On Aug.2, 2019, Mr. Jaime Suarez, Executive Director of Colombian Chinese Investment and Commerce Chamber, one of SRCIC members, visited SRCIC's Beijing Representative Office and exchanged views with Mr. Wang Yan, SRCIC Deputy Secretary General. Mr. Wang Yan, SRCIC Deputy Secretary General (R) and Mr. Jaime Suarez, Executive Director of Colombian Chinese Investment and Commerce Chamber (L) Mr. Jaime Suarez pointed out that the Colombian Chinese Investment and Commerce Chamber joined the business delegation accompanying President Iván Duque Márque for his state visit to China. He added that Columbia is rich in natural resources. Considering the fact that China is the second largest trade partner of Columbia, he expects to see the Columbian exports to China continue to grow. In recent years, Columbia has increased its investment in infrastructure projects. Mr. Jaime Suarez hoped that SRCIC could mobilize its international resources and introduce more influential Chinese entrepreneurs to invest in Columbia in the future. Mr. Wang Yan welcomed Mr. Jaime Suarez and expressed that SRCIC always works its best to serve the members. He hoped that the Colombian Chinese Investment and Commerce Chamber and SRCIC maintain frequent exchanges, and SRCIC will continue its efforts to introduce more Chinese enterprises to invest in Columbia.
Philippines' Arroyo describes China's BRI as "broadest platform for collaboration"
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Philippines' Arroyo describes China's BRI as "broadest platform for collaboration"
26 Jul 2019
Former Philippine President Gloria Macapagal Arroyo described on Friday the Belt and Road Initiative (BRI) as "China's broadest platform for collaboration and cooperation", saying that the Philippines is gaining benefits from the trade and infrastructure cooperation with China. "Infrastructure is an obvious area that can benefit from the economic cooperation that the BRI embodies," Arroyo told on the Belt and Road China-Philippines Forum on people-to-people exchange and economic cooperation held in Manila. She lauded China-proposed BRI, saying the 21st Century Maritime Silk Road "fits very nicely" with the Philippines' ongoing "Build, Build, Build" infrastructure project. The "Build, Build, Build" program, rolled out by the Philippine government in 2017, intends to spend 8 to 9 trillion pesos (roughly 160 to 180 billion U.S. dollars) in the medium-term on building roads, bridges, airports, seaports and railways in the Philippines. Accelerating infrastructure is one of the Philippine government's policies agenda to usher in the country's "Golden Age of Infrastructure" through the program. Tan Qingsheng, the deputy chief of mission and minister counselor at the Chinese embassy in the Philippines, told the forum that the BRI is a "pie for everyone to share, not a pitfall that hinders development." The BRI, proposed by China in 2013, aims at enhancing all-around connectivity through infrastructure construction, exploring new driving force for the world economic growth, and building a new platform for world economic cooperation. "The BRI promotes open and inclusive economic cooperation," he said, adding it is a "peaceful development platform" and "not a geopolitical tool" directed against any country. "China initiated the very idea, but the BRI as a platform is owned and equally participated by all participating countries," he said, adding that the initiative is guided by "consultation and cooperation for shared benefits." So far, some 126 countries, including the Philippines, and 29 international organizations have signed cooperation documents on BRI with China. "All the cooperation projects are not imposed on anyone or designed to frame any other country," Tan said, "the BRI is a pie for everyone to share, not a pitfall that hinders development." "The Philippines is an important developing country with great potentials, and a natural partner in jointly building BRI," he said. Indeed, some Chinese-funded infrastructure projects have already started in the Philippines. The construction of the two bridges over Pasig River in Manila and the Chico River Pump Irrigation Projects in the northern Philippines are in full swing. The New Centennial Water Source-Kaliwa Dam project and the Philippine National Railway South Long Haul are being pushed forward at a steady pace and will contribute to the development of agriculture and transportation in the country. The former Philippine president also praised the Chinese-funded infrastructure projects, stressing that "the main thing to focus now is on the implementation side." Arroyo expressed confidence that the Philippines would continue "to exert greater and greater effort to remove on the ground bottlenecks that impede the implementation of projects," referring to "not only projects that involve infrastructure funders but also those that involve trade and investment growth from China." She said bilateral relations between the Philippines and China "have reached new heights." "China is correct in striving for partnership and growth and development with its neighbors. This enlightened attitude provides a foundation for continued friendship between China and the world and indeed within China and the Philippines," she further said. The Philippines, under President Rodrigo Duterte, is an enthusiastic partner of China's BRI. In November 2018, the governments between China and the Philippines signed a memorandum of understanding on the BRI cooperation. Duterte attended both the first and second Belt and Road Forum for International Cooperation in Beijing. Both countries have committed to further strengthen the synergies between the BRI and "Build, Build, Build" program. The Belt and Road China-Philippines Forum on people-to-people exchange and economic cooperation, held by China Public Diplomacy Association and the Presidential Communications Operations Office of the Philippines, seeks to provide new ideas, methods and opportunities in addition to the existing areas of China-Philippines economic cooperation. Source: Xinhua News Agency
ICC Incoterms® 2020 Introductory Workshop in Karachi, Pakistan
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ICC Incoterms® 2020 Introductory Workshop in Karachi, Pakistan
25 Jul 2019
The ICC Pakistan will host the Introductory Workshop on Incoterms® 2020 on 21 October, 2019 in Karachi. The workshop will focus on the major changes to the revision of the Incoterms® rules. It will be the case study driven to achieve the maximum practical benefit in everyday agreement of sales contracts with particular focus on the international contract of sale. A full public presentation of the new rules and demonstration through case-studies of the major changes and processes will be provided. Please acquire more info about the workshop by downloading the Incoterms 2020 Workshop Preliminary Brochure. About ICC Incoterms The Incoterms® rules are an internationally recognised standard and are used worldwide in international and domestic contracts for the sale of goods. The new rules of the ICC Incoterms® 2020, published by the International Chamber of Commerce (ICC) in Paris, are set for release in September 2019. FYR: https://iccwbo.org/resources-for-business/incoterms-rules/
The President of the European Council visits the new Port of Baku
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The President of the European Council visits the new Port of Baku
9 Jul 2019
Taleh Ziyadov, Director-General of Baku International Sea Trade Port has welcomed the President of the European Council Donald Tusk and said that the advanced IT system currently used at the port, by automating all operations, provides the cargo owner with the ability to monitor the cargo online, determine the location in the territory and gives other advantages. He noted that for fast and efficient loading and unloading, the time limit for loading onto ships and unloading of containers and dry cargo delivered by heavy trucks is set through the port’s operational information system. Thus, the processes are carried out in accordance with this schedule. This operating system, which works online, immediately informs the cargo owner about its delivery to and from the Port of Baku. The latest technological and engineering solutions used at the port make the complex the most modern and convenient cargo handling center in the region that meets international requirements, and also enhance its transit and transportation capabilities as an important transportation hub. During the visit to Port of Baku, Donald Tusk got acquainted with the infrastructure created there. Mustafayev said that the area of the port covers 400 hectares, there are 12 berths, the total length of which is 2,100 meters. The port has 2 berths for Ro-Ro type vessels, a universal dry cargo and container terminal consisting of 7 berths, 2 ferry berths, and a berth for service fleet vessels. The length of the berth for service fleet vessels is 155 meters, 11 ships can moor there at the same time. The annual transshipment capacity of the port is 15 million tons, including 100,000 containers. In general, after completion of all construction works, the port will be able to transship 25 million tons of cargo, including 500,000 containers, thanks to the 17 berths available. Baku International Sea Trade Port was previously located within the city. Taking into account the bid of the country to become one of the major commercial and transportation hubs in the region and facilitate regional transformation, the state decided to move it to a new location, 70 km south of the capital Baku, near a settlement called Alat, which is located at the strategic crossroads of the regional railroads and highways. The port in Alat is a transportation hub linking the west (Turkey & EU), south (Iran & India) and north (Russia). In addition, the port's location is linked to existing highways and railways, connecting the port to the inland regions of the country. In 2018, the total volume of cargo transportation at all terminals of the Port of Baku was about 3.8 million tons, of which 84.5 percent (3.2 million tons) accounted for transit cargo. Moreover, Director-General Taleh Ziyadov informed the guests about the joint projects implemented between the Port of Baku and the European Union since 2016. The ongoing projects include improving operational capabilities, preservation of the environment around the port, the “Green Port” project, waste management and disposal, study tours to the leading European ports, and application of international standards to the work of the new Port of Baku. Source: Port of Baku official website
July Star- The Federation of Bangladesh Chambers of Commerce & Industry
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July Star- The Federation of Bangladesh Chambers of Commerce & Industry
9 Jul 2019
Introduction The Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) was founded in 1973 and has its headquarters based in capital Dacca. As Bengalese representative body of the business community, FBCCI avails itself to act as a pivotal role in providing consultation and safeguarding the interests of the private sectors. FBCCI plays a key advisory role in the development of business, industrial and financial policies at the national level. Objectives To coordinate and promote the interests of its member bodies – Chambers of Commerce and Industry, Trade and Industrial Associations To foster trade and investment growth across industry, agriculture, tourism, human resources and communication sectors in Bangladesh To provide support and assistance to the private sectors through effective communication and consultation with the government To assist the Chambers of Commerce and Industry and Trade Associations in organizing Trade and Industrial Fairs at home and abroad Recent activities Seminar on Bangladesh- China (Dalian) Trade and Investment Promotion On July 1-3, 2019, the world-famous meeting- China Summer Davos Annual Meeting was held in Dalian city. Prime Minister of Bangladesh Sheikh Hasina attended the meeting, leading a delegation of 53 enterprises from FBCCI. On July 2, the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) and China Council for the Promotion of International Trade (CCPIT) Dalian Sub-Council jointly organized Seminar on Bangladesh-China (Dalian) Trade and Investment Promotion. FBCCI signed a memorandum of understanding with CCPIT-Dalian. Both sides unanimously promised to strengthen cooperation in promoting exchanges of economic and trade groups, supporting mutual exhibitions, and facilitating trade and investment facilitation, so as to achieve win-win cooperation and to build an efficient and convenient service platform. MOU signing between CCPIT-Dalian and FBCCI Afterwards, 53 enterprises from FBCCI and more than 150 enterprises in Dalian city were present at Business to Business Meeting. Nearly one-third of participants found their potential cooperative partners. FBCCI visits SRCIC Beijing Office On July 5, a delegation led by Mr. Md. Muntakim Ashraf, the Senior Vice President of FBCCI visited SRCIC Beijing Office. Mr. Wang Yan, the Deputy Secretary General of SRCIC received the delegation. Mr. Md. Muntakim Ashraf hoped that SRCIC would mobilize its abundant member resources and introduce more enterprises to invest in Bangladesh. Mr. Wang Yan expressed that SRCIC would provide its efforts on facilitating the economic growth of Bangladesh. FBCCI Senior Vice President Mr. Md. Muntakim Ashraf (R7) and SRCIC Deputy Secretary General Mr. Wang Yan (L6) Interactiveness As a founding member of SRCIC, FBCCI has been making great contribution to the development of SRCIC. As the vice Chairman of SRCIC, Mr. Md. Shafiul Islam, the Immediate Past President of FBCCI attended the 2017 Silk Road Business Summit in Xi’an city and the 2018 Silk Road Business Summit in Zhangjiajie city. As one of the SRCIC Executive Board Members, Mr. Md. Shafiul Islam attended the 6th and 8th SRCIC Executive Board Meetings, sharing his invaluable suggestions for the development of SRCIC. FBCCI Immediate Past President Mr. Md. Shafiul Islam attending the 8th SRCIC Executive Board Meeting (Back Row, R5)
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