Second CIIE concludes with 71.13-bln-USD tentative deals
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Second CIIE concludes with 71.13-bln-USD tentative deals
11 Nov 2019
Photo taken on Nov. 10, 2019 shows a news briefing for the closing of the second China International Import Expo (CIIE) in Shanghai, east China, Nov. 10, 2019. The second CIIE concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. (Xinhua/Fang Zhe) The second China International Import Expo (CIIE) concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. The amount rose 23 percent from that of last year, Sun Chenghai, vice director of the CIIE Bureau, told a news conference. A total of 181 countries, regions and international organizations attended the expo, and more than 3,800 enterprises participated in the exhibitions. The six-day event, under the theme of "New Era, Shared Future," attracted more than 500,000 domestic and overseas buyers, Sun said. He said more than 230 companies from all over the world have signed up for the third CIIE, with their combined exhibition area exceeding 84,000 square meters. Among them are more than 80 Fortune Global 500 companies or industrial leaders, with a total exhibition area of more than 50,000 square meters, Sun added. Source: Xinhua News Agency
China-Belarus Industrial Park exemplifies two-way Opportunities
China-Belarus Industrial Park exemplifies two-way Opportunities
9 Nov 2019
Tian Jian, a Chinese Entrepreneur, received a gift during the ongoing Second China International Import Expo (CIIE) in Shanghai, a certificate recognise his firm as a resident company of The Great Stone Industrial Park in Minsk, capital of Belarus. The Great Stone Industrial Park is a special economic zone created by China and Belarus within the framework of the Belt & Road Initiative, and the largest foreign investment project in Belarus. It serves as a working platform for high-tech companies from around the world. "Belarus, a gateway to Europe along the Silk Road Economic Belt, has obvious geographical advantages," said Tian, General Manager of the Asia-Europe Satcom (Shenzhen) Technology Co., Ltd., adding that some locally produced goods in the country are sold to Europe at a lower tax rate than those sold from China to Europe. Aliaksandr Yarashenka, Head of the Park Administration, said the Industrial Park was part of the country exhibition of Belarus at the first CIIE last year. “We have an independent booth this year to show more fully what has been achieved in the park.” Among the exhibits at the booth are product models of companies in the park, including LED lamps from China's Shenzhen Fluence Technology PLC and diesel engines produced by the MAZ-Weichai engine factory, a China-Belarus joint venture. The number of resident companies in the park has increased to 57 so far, coming from 13 countries including China, Belarus, Germany, the United States and Switzerland. Hu Zheng, CEO of China-Belarus Industrial Park Development Company, said the park is an important platform for economic and trade cooperation between the two countries. “The core task of the park is to gather industrial companies and provide new economic growth points for Belarus.” With the continuous improvement of the park's infrastructure and effective implementation of preferential policies, resident companies are accelerating into the production stage. The MAZ-Weichai engine factory held a ceremony in the park not long ago to mark the starting of production, making it one of the first to enter this stage at Great Stone. "The Second CIIE has brought huge export opportunities to products of the enterprises in the Industrial Park. We hope to bring their real products to China next year,” Yarashenka said. Source: www.beltandroad.news
WTO can look to RCEP as a pilot project to re-imagine global trading system
WTO can look to RCEP as a pilot project to re-imagine global trading system
8 Nov 2019
The Regional Comprehensive Economic Partnership (RCEP) could guide the way for global trade rule making, contributing its experience to upgrading trade clauses. The route taken by the RCEP could give light to WTO reforms down the road. RCEP rules are created and improved based on WTO treaties. Therefore, certain rules and clauses of the RCEP are better than those of the WTO. For example, most WTO member countries maintain decent quantities of tariffs while the RCEP has zero tariffs over 90 percent of traded products. Additionally, trade facilitation measures and the services trade will be more open than expected. Intellectual property rights will be better protected under the RCEP than the WTO. Since Asian countries headed by China have well-developed e-commerce sectors, the RCEP has more advanced rules in this regard. Multiple countries reaching a trade pact under the RCEP has contributed to world trade rule-making in two ways. First, the RCEP has proven that countries differing in size, economic development stage and even political system can achieve consensus in trade agreements. As long as all parties maintain the determination to promote economic globalization and push through trade dialogue, any disagreements will eventually be solved. The RCEP includes both developed and developing countries with different levels. Often, when countries engage in trade talks and fail to reach a deal, excuses such as having too many members or a development gap too large to coordinate will be given. But the RCEP has demonstrated that these excuses are not justifiable. There is also another lesson to learn: a trade pact does not have to set the bar too high. Trade rule making has to leave some room for certain members to make gradual progress. The Trans-Pacific Partnership Agreement (TPP), for example, set a very high threshold for participants. Though the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) lowered its requirements, the resultant trade treaties and rules are still hard for most WTO members to accept. Rule creation for the TPP or CPTPP is dominated by developed countries such as the US, Japan, Australia and Canada, and Latin American countries including Mexico and Chile that already have free trade agreements with them. Therefore, trade pacts emphasize coordinating member countries' domestic policies, particularly concerning issues of investment restrictions. In contrast, the majority of RCEP countries are developing countries. There is still much to be done in terms of market access.Unlike the CPTPP, the RCEP's main focus is opening up the market, and enhancing and facilitating free trade. These aims could be easily accepted by most WTO members. For Asian countries, the RCEP and CPTPP both have value. Higher-level market accession, which benefits goods and services trade as well as trade facilitation measures, is still the priority for RCEP members. These countries can better integrate their markets in this way. The RCEP does not include India as it is too hesitant. The CPTPP missed out on the US as it is too radical. These examples show that countries need to compromise to make deals. The future Asia-Pacific free trade area will probably be the product of eclectic moves by countries. The RCEP plus the CPTPP could be the future of regional trade. The RCEP, to some extent, can provide guidance for global trade rule making, bring differing countries together to facilitate free trade and prepare for further upgrades. As a fledging regional partnership, it is in no position to replace the WTO which has 164 members. But the RCEP, based on WTO rules, can be seen as a pilot area for the WTO to provide experience and a global trading system. Source: Global Times
Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Road report released
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Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Road report released
6 Nov 2019
Under the cooperative framework of jointly building the Belt and Road, the UnitedNations Development Programme (UNDP) and China Development Bank (CDB) jointlyconducted research and developed this report on Harmonizing Investment and FinancingStandards towards Sustainable Development along the Belt and Road. The report summarizesthe investment and financing practices of all parties involved in jointly building the Beltand Road from an objective and rational perspective, and proposes forward-looking policyrecommendations. It is an important measure to implement the outcome of the 2nd Belt andRoad Forum for International Cooperation; it is not only the result of a useful process ofprofessional knowledge and experience sharing in international investment and financingcooperation, but also a positive exploration for both sides to contribute to the high-qualitydevelopment of Belt and Road. The publication of this report will furtherenhance society's understanding of the joint pursuit of the Belt and Road, while providinguseful guidance to all parties jointly working towards the implementation of the Belt andRoad. Please click Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Roadto read the full report. Source:Belt and Road Portal
China, New Zealand conclude FTA upgrade talks: MOC
China, New Zealand conclude FTA upgrade talks: MOC
5 Nov 2019
China's Ministry of Commerce (MOC) Monday announced the conclusion of negotiations on upgrading the existing Free Trade Agreement (FTA) between China and New Zealand. In 2008, China signed an FTA with New Zealand, the first FTA between China and a developed country, according to the MOC. The two countries launched talks on upgrading the FTA in November 2016, against the backdrop of profound changes in international trade rules and activities. The upgrade is expected to reflect the rapid and dynamic development needs of bilateral economic and trade relations and further promote the process of regional economic integration, according to the MOC. The negotiations have further upgraded the existing chapters on customs procedures and cooperation, rules of origin and technical barriers to trade. New chapters have been added to e-commerce, environment and trade, competition policy and government procurement. The two sides made new commitments in various aspects, such as market access for trade in services and goods and the movement of natural persons and investment. Exporters from both China and New Zealand will benefit from the upgraded trade rules, which will make trade more convenient, according to the MOC. The FTA has greatly promoted the development of bilateral trade. China has become New Zealand's largest trade partner, largest export destination and a rapid growing service market. New Zealand's main exports to China include dairy products, timber, meat, aquatic products and fruits. The completion of the FTA upgrade negotiations reflects the commitment of the two countries to adhere to free and open trade and support a rule-based multilateral trading system, according to the MOC. It will inject new impetus into the economic and trade development of the two countries, providing strong support for trade negotiations between China and more developed countries and regions, according to the ministry. Source: Xinhua News Agency
Upgraded protocol to further tap opportunities of China-ASEAN FTA: Singapore scholar
Upgraded protocol to further tap opportunities of China-ASEAN FTA: Singapore scholar
4 Nov 2019
The upgraded protocol will further explore the opportunities of the China-ASEAN Free Trade Area (CAFTA), said Gu Qingyang, an associate professor of the Lee Kuan Yew School of Public Policy of National University of Singapore. Gu made the remarks in a recent interview with Xinhua shortly after the upgraded protocol of CAFTA was fully implemented among all its members on Oct. 22, adding that it will benefit all the peoples and enterprises among its members in areas including trade, investment and industry cooperation. "This implementation comes at a high time against the backdrop that trade protectionism has hindered the world economy to climb out of sluggishness," he pointed out. For example, Singapore, as an ASEAN member, could witness a continued growth in its goods trade volume with China after the implementation, which would lead to more closed bilateral collaboration between Singapore and China, according to Gu. In his opinion, Singapore could take full advantage of its financial, legal and patent services as well as education and training sectors, and further consolidate these industries. Moreover, he expressed belief that more Singaporean and Chinese enterprises would be keen to invest in each other, as limitations on investment among the CAFTA members have been diminished under the framework of the upgraded protocol. In this regard, Singapore can bring into fuller play its role as a bridge between China and other ASEAN members, he added. On a broader horizon, Gu noted that the economies of China and ASEAN countries are highly complementary, which explains for itself the intense market connectivity of China and ASEAN members and robust growth in trade between them over the years. Now China stands as ASEAN's largest trading partner while ASEAN is China's second largest trading partner. The upgraded protocol has made some adjustments in order to solve the problems cropped up earlier in the economic and trade cooperation between China and other CAFTA members, showing more flexibility in defining countries of origin, further improving trade facilitation and lowering the thresholds for investment and service trades, Gu said. The CAFTA upgraded protocol is the outcome of the China-ASEAN Free Trade Area upgrade negotiation. The protocol was officially signed on Nov. 22, 2015, while CAFTA was firstly set up in 2010. The upgrading will herald new growth in fields like finance, logistics, tourism and communications among the CAFTA members, he concluded. Source: Belt & Road Portal
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.
Second CIIE concludes with 71.13-bln-USD tentative deals
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Second CIIE concludes with 71.13-bln-USD tentative deals
11 Nov 2019
Photo taken on Nov. 10, 2019 shows a news briefing for the closing of the second China International Import Expo (CIIE) in Shanghai, east China, Nov. 10, 2019. The second CIIE concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. (Xinhua/Fang Zhe) The second China International Import Expo (CIIE) concluded Sunday, with 71.13 billion U.S. dollars worth of tentative deals reached for one-year purchases of goods and services. The amount rose 23 percent from that of last year, Sun Chenghai, vice director of the CIIE Bureau, told a news conference. A total of 181 countries, regions and international organizations attended the expo, and more than 3,800 enterprises participated in the exhibitions. The six-day event, under the theme of "New Era, Shared Future," attracted more than 500,000 domestic and overseas buyers, Sun said. He said more than 230 companies from all over the world have signed up for the third CIIE, with their combined exhibition area exceeding 84,000 square meters. Among them are more than 80 Fortune Global 500 companies or industrial leaders, with a total exhibition area of more than 50,000 square meters, Sun added. Source: Xinhua News Agency
China-Belarus Industrial Park exemplifies two-way Opportunities
China-Belarus Industrial Park exemplifies two-way Opportunities
9 Nov 2019
Tian Jian, a Chinese Entrepreneur, received a gift during the ongoing Second China International Import Expo (CIIE) in Shanghai, a certificate recognise his firm as a resident company of The Great Stone Industrial Park in Minsk, capital of Belarus. The Great Stone Industrial Park is a special economic zone created by China and Belarus within the framework of the Belt & Road Initiative, and the largest foreign investment project in Belarus. It serves as a working platform for high-tech companies from around the world. "Belarus, a gateway to Europe along the Silk Road Economic Belt, has obvious geographical advantages," said Tian, General Manager of the Asia-Europe Satcom (Shenzhen) Technology Co., Ltd., adding that some locally produced goods in the country are sold to Europe at a lower tax rate than those sold from China to Europe. Aliaksandr Yarashenka, Head of the Park Administration, said the Industrial Park was part of the country exhibition of Belarus at the first CIIE last year. “We have an independent booth this year to show more fully what has been achieved in the park.” Among the exhibits at the booth are product models of companies in the park, including LED lamps from China's Shenzhen Fluence Technology PLC and diesel engines produced by the MAZ-Weichai engine factory, a China-Belarus joint venture. The number of resident companies in the park has increased to 57 so far, coming from 13 countries including China, Belarus, Germany, the United States and Switzerland. Hu Zheng, CEO of China-Belarus Industrial Park Development Company, said the park is an important platform for economic and trade cooperation between the two countries. “The core task of the park is to gather industrial companies and provide new economic growth points for Belarus.” With the continuous improvement of the park's infrastructure and effective implementation of preferential policies, resident companies are accelerating into the production stage. The MAZ-Weichai engine factory held a ceremony in the park not long ago to mark the starting of production, making it one of the first to enter this stage at Great Stone. "The Second CIIE has brought huge export opportunities to products of the enterprises in the Industrial Park. We hope to bring their real products to China next year,” Yarashenka said. Source: www.beltandroad.news
WTO can look to RCEP as a pilot project to re-imagine global trading system
WTO can look to RCEP as a pilot project to re-imagine global trading system
8 Nov 2019
The Regional Comprehensive Economic Partnership (RCEP) could guide the way for global trade rule making, contributing its experience to upgrading trade clauses. The route taken by the RCEP could give light to WTO reforms down the road. RCEP rules are created and improved based on WTO treaties. Therefore, certain rules and clauses of the RCEP are better than those of the WTO. For example, most WTO member countries maintain decent quantities of tariffs while the RCEP has zero tariffs over 90 percent of traded products. Additionally, trade facilitation measures and the services trade will be more open than expected. Intellectual property rights will be better protected under the RCEP than the WTO. Since Asian countries headed by China have well-developed e-commerce sectors, the RCEP has more advanced rules in this regard. Multiple countries reaching a trade pact under the RCEP has contributed to world trade rule-making in two ways. First, the RCEP has proven that countries differing in size, economic development stage and even political system can achieve consensus in trade agreements. As long as all parties maintain the determination to promote economic globalization and push through trade dialogue, any disagreements will eventually be solved. The RCEP includes both developed and developing countries with different levels. Often, when countries engage in trade talks and fail to reach a deal, excuses such as having too many members or a development gap too large to coordinate will be given. But the RCEP has demonstrated that these excuses are not justifiable. There is also another lesson to learn: a trade pact does not have to set the bar too high. Trade rule making has to leave some room for certain members to make gradual progress. The Trans-Pacific Partnership Agreement (TPP), for example, set a very high threshold for participants. Though the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) lowered its requirements, the resultant trade treaties and rules are still hard for most WTO members to accept. Rule creation for the TPP or CPTPP is dominated by developed countries such as the US, Japan, Australia and Canada, and Latin American countries including Mexico and Chile that already have free trade agreements with them. Therefore, trade pacts emphasize coordinating member countries' domestic policies, particularly concerning issues of investment restrictions. In contrast, the majority of RCEP countries are developing countries. There is still much to be done in terms of market access.Unlike the CPTPP, the RCEP's main focus is opening up the market, and enhancing and facilitating free trade. These aims could be easily accepted by most WTO members. For Asian countries, the RCEP and CPTPP both have value. Higher-level market accession, which benefits goods and services trade as well as trade facilitation measures, is still the priority for RCEP members. These countries can better integrate their markets in this way. The RCEP does not include India as it is too hesitant. The CPTPP missed out on the US as it is too radical. These examples show that countries need to compromise to make deals. The future Asia-Pacific free trade area will probably be the product of eclectic moves by countries. The RCEP plus the CPTPP could be the future of regional trade. The RCEP, to some extent, can provide guidance for global trade rule making, bring differing countries together to facilitate free trade and prepare for further upgrades. As a fledging regional partnership, it is in no position to replace the WTO which has 164 members. But the RCEP, based on WTO rules, can be seen as a pilot area for the WTO to provide experience and a global trading system. Source: Global Times
Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Road report released
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Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Road report released
6 Nov 2019
Under the cooperative framework of jointly building the Belt and Road, the UnitedNations Development Programme (UNDP) and China Development Bank (CDB) jointlyconducted research and developed this report on Harmonizing Investment and FinancingStandards towards Sustainable Development along the Belt and Road. The report summarizesthe investment and financing practices of all parties involved in jointly building the Beltand Road from an objective and rational perspective, and proposes forward-looking policyrecommendations. It is an important measure to implement the outcome of the 2nd Belt andRoad Forum for International Cooperation; it is not only the result of a useful process ofprofessional knowledge and experience sharing in international investment and financingcooperation, but also a positive exploration for both sides to contribute to the high-qualitydevelopment of Belt and Road. The publication of this report will furtherenhance society's understanding of the joint pursuit of the Belt and Road, while providinguseful guidance to all parties jointly working towards the implementation of the Belt andRoad. Please click Harmonizing Investment and Financing Standards towards Sustainable Development along the Belt and Roadto read the full report. Source:Belt and Road Portal
China, New Zealand conclude FTA upgrade talks: MOC
China, New Zealand conclude FTA upgrade talks: MOC
5 Nov 2019
China's Ministry of Commerce (MOC) Monday announced the conclusion of negotiations on upgrading the existing Free Trade Agreement (FTA) between China and New Zealand. In 2008, China signed an FTA with New Zealand, the first FTA between China and a developed country, according to the MOC. The two countries launched talks on upgrading the FTA in November 2016, against the backdrop of profound changes in international trade rules and activities. The upgrade is expected to reflect the rapid and dynamic development needs of bilateral economic and trade relations and further promote the process of regional economic integration, according to the MOC. The negotiations have further upgraded the existing chapters on customs procedures and cooperation, rules of origin and technical barriers to trade. New chapters have been added to e-commerce, environment and trade, competition policy and government procurement. The two sides made new commitments in various aspects, such as market access for trade in services and goods and the movement of natural persons and investment. Exporters from both China and New Zealand will benefit from the upgraded trade rules, which will make trade more convenient, according to the MOC. The FTA has greatly promoted the development of bilateral trade. China has become New Zealand's largest trade partner, largest export destination and a rapid growing service market. New Zealand's main exports to China include dairy products, timber, meat, aquatic products and fruits. The completion of the FTA upgrade negotiations reflects the commitment of the two countries to adhere to free and open trade and support a rule-based multilateral trading system, according to the MOC. It will inject new impetus into the economic and trade development of the two countries, providing strong support for trade negotiations between China and more developed countries and regions, according to the ministry. Source: Xinhua News Agency
Upgraded protocol to further tap opportunities of China-ASEAN FTA: Singapore scholar
Upgraded protocol to further tap opportunities of China-ASEAN FTA: Singapore scholar
4 Nov 2019
The upgraded protocol will further explore the opportunities of the China-ASEAN Free Trade Area (CAFTA), said Gu Qingyang, an associate professor of the Lee Kuan Yew School of Public Policy of National University of Singapore. Gu made the remarks in a recent interview with Xinhua shortly after the upgraded protocol of CAFTA was fully implemented among all its members on Oct. 22, adding that it will benefit all the peoples and enterprises among its members in areas including trade, investment and industry cooperation. "This implementation comes at a high time against the backdrop that trade protectionism has hindered the world economy to climb out of sluggishness," he pointed out. For example, Singapore, as an ASEAN member, could witness a continued growth in its goods trade volume with China after the implementation, which would lead to more closed bilateral collaboration between Singapore and China, according to Gu. In his opinion, Singapore could take full advantage of its financial, legal and patent services as well as education and training sectors, and further consolidate these industries. Moreover, he expressed belief that more Singaporean and Chinese enterprises would be keen to invest in each other, as limitations on investment among the CAFTA members have been diminished under the framework of the upgraded protocol. In this regard, Singapore can bring into fuller play its role as a bridge between China and other ASEAN members, he added. On a broader horizon, Gu noted that the economies of China and ASEAN countries are highly complementary, which explains for itself the intense market connectivity of China and ASEAN members and robust growth in trade between them over the years. Now China stands as ASEAN's largest trading partner while ASEAN is China's second largest trading partner. The upgraded protocol has made some adjustments in order to solve the problems cropped up earlier in the economic and trade cooperation between China and other CAFTA members, showing more flexibility in defining countries of origin, further improving trade facilitation and lowering the thresholds for investment and service trades, Gu said. The CAFTA upgraded protocol is the outcome of the China-ASEAN Free Trade Area upgrade negotiation. The protocol was officially signed on Nov. 22, 2015, while CAFTA was firstly set up in 2010. The upgrading will herald new growth in fields like finance, logistics, tourism and communications among the CAFTA members, he concluded. Source: Belt & Road Portal
ICC Pakistan hosts the Launching Ceremony and Introductory Workshop on Incoterms® 2020
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ICC Pakistan hosts the Launching Ceremony and Introductory Workshop on Incoterms® 2020
30 Oct 2019
The International Chamber of Commerce has launched the revised "International Commercial Terms" (Incoterms® 2020), which will help prepare business for the next century of global trade. Facilitating trillions of dollars in global trade each year, the Incoterms® rules are a commonly accepted set of definitions and rules governing commercial trade activity. Incoterms® rules are applied by companies for countless business transactions worldwide supporting ICC's vision to enable business to secure peace, prosperity and opportunity for all. Incoterms®rules are the world's essential terms of trade for the sale of goods. Whether you are filing a purchase order, packaging and labelling a shipment for freight transport, or preparing a certificate of origin at a port, the Incoterms® rules are there to guide you. The Incoterms® rules provide specific guidance to individuals participating in the import and export of global trade on a daily basis. The Incoterms® rules feature abbreviations for terms, like FOB ("Free on Board"), DAP ("Delivered at Place") EXW ("Ex Works"), CIP ("Carriage and Insurance Paid To"), which all have very precise meanings for the sale of goods around the world. Incoterms®2010 is the most current version of the rules to date. This latest edition of the Incoterms® rules included an increased obligation for buyer and seller to cooperate on information sharing and changes to accommodate "string sales." ICC Pakistan hosted the Launching Ceremony and Introductory Workshop on Incoterms® 2020 at Karachi on 21st October 2019. The workshop was conducted by an international expert on Incoterms Ms. Emily O' Connor, Director of Multilateral Rules for Trade & Investment at ICC who oversaw the development of Incoterms®2020 rules. The workshop focused on the major changes to the revision of the Incoterms® rules. A full public presentation of the new rules and demonstration through case-studies of the major changes and processes was provided by the trainer. Chairman Pakistan National Committee of the International Chamber of Commerce (ICC Pakistan) Mr. Tariq M. Rangoonwala expressed his appreciation of the efforts of its Banking Commission and Chair Mr. Ahsan Aziz and ICC itself for having chosen Karachi to be among the first major cities to make this international launch of Incoterms® 2020. He said, this is also a very good occasion for trade bankers, freight forwarders, exporters, importers, regulators and shipping companies to interact as well as to understand from an international expert about the changes and implications in Incoterms® rules. Speaking at the occasion, Nassir Salim, Head Global Operations-HBL said "HBL is Pakistan's largest commercial bank and we endeavor to support efforts that foster sharing of knowledge and best practices across the economy. This workshop will improve the overall awareness levels of parties involved in international trade i.e. the business community of Pakistan, shipping companies and bank on the new Incoterms. This increased awareness would facilitate a deeper understanding of trade transactions and the associated risks. In line with the country's approach, HBL recently held seminars across different cities of the country, where we engaged our client base on how to strengthen governance and standards for trade. Being this workshop's partner underlines HBL's efforts at further enhancing compliance standards both at HBL and across the country.” Mr. Ahsan Aziz, GM Head International Compliance HBL and Chair of the Banking Commission of ICC Pakistan on the occasion thanked ICC and Ms. Emily O' Connor to accept our invitation to conduct this important workshop at Karachi. He also thanked all participants, Partner and Sponsors for their support. Mr. Babar Badat, Immediate Past President of FIATA and Chair of the IRT-TIR Commission of ICC Pakistan emphasized on the importance of Incoterms in the transport, logistics and shipping industries. He informed that the latest version, Incoterms® 2020 contains many changes to rules which apply to billions of dollars of international trade each year. The workshop was partnered by Habib Bank Limited, sponsored by USAID and Habib Metropolitan Bank Ltd., and supported by Standard Chartered Bank Pakistan. About International Chamber of Commerce The International Chamber of Commerce (ICC) is the world's largest business organization with a network of over 6.5 million members in more than 130 countries. ICC is the only private sector organization which enjoys Observer Status at the United Nations and has close working relationships with other intergovernmental organizations including WTO, the G8 and the G20. We are the world business organization. The fundamental mission of ICC is to promote international trade, responsible business conduct and a global approach to regulation through a unique mix of advocacy and standard setting activities together with market leading dispute resolution services. ICC was founded in 1919. Today it has a unique network with the power to influence policy in more than 130 countries. Please see photographs of the event: https://flic.kr/s/aHsmHWyQ4H About ICC Pakistan The Pakistan National Committee of the International Chamber of Commerce (ICC Pakistan) was founded in 1955 and participated actively in ICC affairs. In 1960 the PNC-ICC hosted the International Businessmen's Conference at Karachi under the auspices of the Commission on Asian and Far Eastern Affairs of the International Chamber of Commerce (CAFEA-ICC). ICC Pakistan was reorganized in 1999 and is a consultative body to senior policy makers providing voluntary guidelines and information, which help to facilitate legislation allowing for the development of a conducive and enabling environment for direct investment protection provisions, trade & transport facilitation, intellectual property, Digital Economy, IT & Telecom, Energy & Environment, Documentary Credits, Trade Finance rules and other programmes for facilitating growth in international trade and investment. ICC Pakistan is the National Guaranteeing and Issuing Organization for the Istanbul Convention for temporary admission under ATA Carnets and the UN TIR Convention 1975. The UN TIR Convention is overseen by the International Road Transport Union (IRU) of which the Pakistan National Committee of the ICC is the Associate Member in Pakistan. Source: ICC Pakistan
CSEBA and Qatar Airways co-organize China Beyond Business event
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CSEBA and Qatar Airways co-organize China Beyond Business event
16 Oct 2019
ZAGREB - Chinese Southeast European Business Association (CSEBA), a member of Silk Road Chamber of International Commerce, has organized an event called "China Beyond Business" with Qatar Airways. The aim of this gathering was to raise the awareness of the business community about the importance of doing business with China and to introduce potential travelers to the benefits of Qatar Airways. CSEBA Vice-President Matej Balen gave a presentation outlining the basic directions of the association's activities and introducing many details related to doing business with China. The CSEBA was established with a mission to provide the basis for economic and financial cooperation between China and the countries of South-Eastern Europe, including: Croatia, Bosnia and Herzegovina, Serbia, Slovenia, Montenegro, FYR of Macedonia, Kosovo, Romania, Bulgaria, Albania, Greece, Turkey, Ukraine, Moldova, Belarus, as well as the countries of: Georgia, Armenia, Azerbaijan, Kazakhstan, Kyrgyzstan, Tajikistan, Uzbekistan, Turkmenistan and Russia Source: Official website of CSEBA
Star of October -Zhangjiajie
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Star of October -Zhangjiajie
14 Oct 2019
Introduction of the Silk Road Urban Alliance The Silk Road Urban Alliance (SRUA), jointly initiated by the Silk Road Chamber of International Commerce (SRCIC) and China Association for Friendship, is a thematic working mechanism among cities of the Belt and Road countries and regions. On 16 October 2018, the 2018 Silk Road Business Summit was successfully held in Zhangjiajie, China's Hunan Province. SRUA was formally established at the Zhangjiajie International Tourism Forum, an affiliated session of the Summit. The city of Zhangjiajie was elected as SRUA first rotating presidency city and Mayor Liu Ge’an as rotating president. Silk Road Urban Alliance aims to strengthen cultural exchanges and trade cooperation among its members under the Belt and Road Initiative. By providing a pragmatic platform, the Urban Alliance enables its members to share their experience in city governance, so as to better seize the opportunities and address the challenges in city development. Currently, SRUA has 58 member cities from 22 countries. SRUA Founding Assembly and the First Zhangjiajie International Tourism Forum SRUA first Rotating President Liu Ge'an taking a group photo with member city representatives SRUA first Rotating Presidency City Zhangjiajie Top left: Zhangjiajie National Forest Park Top right: Zhangjiajie Tianmen Mountain and Tianmen Cave Bottom left: Zhangjiajie Grand Canyon Glass Bridge Bottom right: art performance- Tianmen Fox Fairy Located in the northwest of China's Hunan Province, the heart of Wuling Mountains, Zhangjiajie Municipality was established in 1988 because of the abundant local tourism resources. Composed of two districts and two counties, Zhangjiajie covers an area of 9,533 square kilometers and has a population of 1.72 million, 75.28% of which are minorities. In 2018, Zhangjiajie's GDP reached 57.892 billion yuan, with an increase of 7.5% over the previous year. The per capita GDP of Zhangjiajie's resident population was 37,719 yuan, an increase of 7.2% compared to 2017. The per capita disposable income of urban and rural residents reached 24,802 yuan and 9,596 yuan respectively. With its unique tourism resources, Zhangjiajie Municipality has been dedicated to developing tourism since its founding. As tourism infrastructure becomes increasingly improved and the tourism industry keeps growing, Zhangjiajie has become one of the best tourist destinations in China and even among China's most influential tourist cities for overseas market. In 2018, Zhangjiajie received 85.217 million tourists with the tourism revenue totaling 75.68 billion yuan, realizing an increase of 16.17% and 21.33 % respectively. Zhangjiajie is a regional transportation hub in Wuling Mountain area, with convenient transportation network of airline, railway and expressway. It is the only national first-class airport in Wuling Mountain area with more than 70 domestic and international destinations in reach, including Beijing, Shanghai, Guangzhou, Shenzhen, Nanjing, Tianjin, Taipei, Kaohsiung, Hong Kong, Busan, Qingzhou, Daegu, Bangkok, Hanoi, Ho Chi Minh City and Jakarta. The railway connects Zhangjiajie with over 50 cities, such as Beijing, Shanghai, Guangzhou and Shenzhen. With the implementation of China's 13th Five-Year Plan, the high-speed railways like Qianjiang-Zhangjiajie-Changde Railway, Ankang-Zhangjiajie-Hengyang Railway and Zhangjiajie-Jishou-Huaihua Railway are now under construction, which will bring Zhangjiajie tourism into the era of high-speed rail. Zhangjiajie has successfully held a series of international events, such as the 2018 Silk Road Business Summit, the 12th NEAR Generally Assembly, the First Asparagus Big Health Asia Forum. Meanwhile, there have been many competitive events held in Zhangjiajie, including the World Wingsuit Flying Tournament, Huanglong Music Season, International Tourism Poetry Festival and so on. Zhangjiajie has also set up Silk Road Stations in multiple countries to expand its international influence. 2019 SRUA Annual Conference (Zhangjiajie) To build SRUA a pragmatic platform for people-to-people exchanges, economic cooperation, cultural mutual learning and common development among its members, the 2019 SRUA Annual Conference will be held on 8-10 December 2019 in Zhangjiajie by the China Association for Friendship, the People's Government of Zhangjiajie, and the Silk Road Chamber of International Commerce. The conference will include opening ceremony, plenary meeting, parallel forums, closing ceremony and so forth. The meeting will welcome over 200 delegates for participation, including SRUA members, representatives of friendly cities, international tourism organizations, enterprises, as well as scholars and experts.
Optimizing the Development Impacts of the Belt and Road Initiative to achieve the SDGs in Asian Economies
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Optimizing the Development Impacts of the Belt and Road Initiative to achieve the SDGs in Asian Economies
25 Sep 2019
Bangkok, 25 September 2019 - The regional workshop on “Assessing the Potential Impact of the Belt and Road Initiative on Sustainable Development Goals in Asian Economies” kicked off today in Bangkok, Thailand. Organized by the United Nations Department of Economic and Social Affairs (DESA) in cooperation with the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP), the workshop aims to discuss and understand how the Belt and Road Initiative (BRI) can contribute to the implementation of the 2030 Agenda while managing its potential risks in the region. The workshop provides a platform for exchanging views and finding results from the experience and research activities undertaken by DESA, ESCAP and other UN agencies. It builds on the in-depth BRI-related research conducted by DESA. UN DESA is partnering with national governments in implementing a multi-country project “Strengthening national policy capacities for jointly building the Belt and Road towards the Sustainable Development Goals” (BRI-SDGs Project), sponsored by the 2030 Agenda Sub-fund of the UN Peace and Development Trust Fund. The Project has been implemented in 14 countries since July 2018, namely Azerbaijan, Bangladesh, Cambodia, Czechia, Georgia, Jordan, Kazakhstan, Kyrgyzstan, Lao PDR, Myanmar, Romania, Serbia, Sri Lanka and Thailand. It utilizes the World Economic Forecasting Model developed by DESA and tailored to national contexts to assess the macroeconomic impact of the initiative in various countries. The workshop also highlights ESCAP's BRI-related research and programmatic activities with a focus on sustainable connectivity and macroeconomic analysis. The UN's engagement on the BRI is primarily aimed at aligning its implementation more closely with the 2030 Agenda for Sustainable Development. This workshop serves as a good example of exploring synergies of BRI-related activities by UN Agencies, which enables the UN's engagement to more effectively serve the sustainable development objectives of countries along the Belt and Road. The workshop also contributes to strengthening the capacities of participating experts on impact assessment and modelling analysis on major regional initiatives. As part of the regional workshop, national stakeholders from Thailand discussed the impacts of BRI on the national development priorities in the country and examined the impact of infrastructure connectivity on local investment, trade and tourism in particular. Over 50 representatives from the government, think tanks, private sector and development partners as well as colleagues from DESA, ESCAP, UNDP, UNICEF, UN WOMEN, UNOPS, and UNDCO regional office participated in the workshop. Dr. Namsuk Kimfrom Economic Analysis and Policy Division ofUnited NationsDepartment of Economic and Social Affairs took part in the workshop. Heattended 2018 Silk Road Business Summit in Zhangjiajie held by SRCIC. ICC Thailand, a member of SRCIC, also sent a group of representatives to the workshop. Source: www.brisdgs.org
Star of September - JSC Partnership Fund
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Star of September - JSC Partnership Fund
20 Sep 2019
Introduction JSC Partnership Fund (PF) is a state-owned investment fund established in 2011. The fund has been assigned BB- ratings by Fitch. PF was established on the basis of consolidating the ownership of the largest Georgian state-owned enterprises operating in transportation, energy and infrastructure sectors. PF’s main objective is to promote investment in Georgia by providing co-financing (equity, mezzanine, etc.) in projects at their initial stage of development. PF is split in two separate business units: 1. Asset management - PF has assets under management with combined annual turnover of over USD 750 million in 2012. PF's portfolio is comprised of Georgia's strategically important assets: Georgian Railway - 100% of shares Georgian Oil and Gas Corporation (GOGC) - 100% of shares Georgian State Electrosystem - 100% of shares Electricity System Commercial Operator - 100% of shares JSC Telasi - 24.5% of shares 2. Investment activity – the number of the projects implemented or under implementation in various sectors is worth a total value of over USD 1 billion. PF has a mandate to invest only in Georgia. PF's strategy is aimed at attracting and supporting private investors. Energy, agriculture, manufacturing, real estate/tourism and logistics/infrastructure sectors are on the top of the priority list as these sectors are largely untapped and have great potential for further development. Cooperation 1. The Silk Road International Development Fund and JSC Partnership Fund (PF) On 5 April2016, SRCIC held its first international roadshow in Tbilisi, capital of Georgia.During the road show, the Silk Road International Development Fund initiated by SRCIC signed a strategic cooperation agreement with PF. The President of Georgia Giorgi Margvelashvili and SRCIC delegation SRCIC and PF representatives signing an MOU On 8 September2017, Chairman of SRCIC Financial Committee David Kiang and Chairman of JSC Partnership Fund David Saganelidze signed an MOU for further enhancing the project of the Silk Road International Development Fund. The unveiling ceremony for the Silk Road International Development Fund On 10 December 2017, the Silk Road International Development Fund was officially unveiled during the celebration of the second anniversary of SRCIC. “The Belt and Road Initiative has brought the sharing opportunities to the global development,” said Ms. Natela Turnava, Vice President of PF. “Therefore, PF and SRCIC should join hands in synergy to create an industrial hub in Georgia and encourage more investors to participate in the Belt and Road development.” 2. JSC Partnership Fund (PF) actively participates in SRCIC activities PF has always maintained close relationship and interaction with SRCIC. PF has attended the Silk Road Business Summit of SRCIC for three successive years in 2016, 2017 and 2018, and also the first and second anniversary celebrations of SRCIC. Recent activities 1. Delegation of Chan-Ba Ecological District (CBE) in Xi'an visits the JSC Partnership Fund (PF) On 4 July 2019, President of PF, David Saganelidze welcomed the delegation led by Director of CBE Management Committee from Xi'an, China. During the meeting, the two sides held a discussion on the exhibition center of the Xi'an Free Trade Zone and the possibility of utilizing the ecological zone along the Belt and Road countries. Meeting between PF President David Saganelidze and Chan-Ba Ecological District delegation 2. JSC Partnership Fund (PF) signs an MOU with the Hungarian Export-Import Bank Plc. (Eximbank) On 11 July 2019, PF President David Saganelidze signed a formal memorandum of cooperation with Robert Gryliov, representative of Eximbank. The MOU was signed during the Georgia's Batumi International Conference “Georgia's European Way”, aiming at strengthening the future cooperative relationship between the two sides. The 16th International Conference was held to celebrate the 10 years' Eastern Partnership.The Conference focused on the new situation and opportunities for cooperation between the European Union and its partner countries, and the role of Georgia in the region. During the conference, Foreign Minister of Georgia David Zalkaliani gave a welcoming speech.Donald Tusk, President of the European Council, Salome Zurabishvili, President of Georgia, and Archer Tarakvadze, President of Georgian Parliament, were present at the Conference and delivered speeches. PF President David Saganelidze signing an MOU with representative of Eximbank Robert Gryliov Source: Official website of JSC Partnership Fund
SRCIC member attended the 4th China-Arab States Expo
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SRCIC member attended the 4th China-Arab States Expo
9 Sep 2019
The 4th China-Arab States Expo was successfully held on September 5-8, 2019, in Yinchuan, Ningxia. Cao Jianming, Vice Chairman of the Standing Committee of the National People's Congress, attended the opening ceremony, delivered a congratulatory letter from President Xi Jinping, and gave a keynote speech. Organizations and enterprises from 89 countries, 107 delegations, and more than 2,900 regional business associations participated in a series of activities, including the opening ceremony, eight exhibitions and investment promotions, four forums, and events staged by the guest province of Jiangsu. Participants also carried out extensive business networking and industrial investigations in trade and investment, high-tech, internet plus, digital economy, infrastructure and capacity cooperation. SRCIC member Mr. Kassem Tofailli, President of Arab Chinese Cooperation and Development Association (ACCDA), attended the opening ceremony and delivered a speech at the 2nd Ningxia International Friendship Forum. 162 representatives from local governments and international friendship organizations in 21 countries were present at the Forum. The delegates also participated in the parallel sessions of the China-Arab States Expo. Group photo of Chairman Kasim Tufali (first from right) with guests attending the opening ceremony Mr. Kassem Tofailli briefed the efforts made by ACCDA in promoting cultural and people-to-people exchanges between Arab countries and China. He suggested the participating international organizations join non-profit organizations such as the Silk Road NGO Cooperation Network and the Silk Road Chamber of International Commerce (SRCIC), who advocate stronger cooperation under the framework of Belt and Road Initiative. Thanks to SRCIC and its Silk Road Sunshine Fund, some Arab students have been able to study in China, who will be future ambassadors to further Sino-Arab cooperation and Sino-Arab friendship. SRCIC member Mr. Daurov Khussey, Chairman of the Dungan AssociationofKazakhstan, was also invited to the opening ceremony and the 3rd China-Arab States Business Summit. The Summit was co-organized by the China Council for the Promotion of International Trade, Secretariat of the League of Arab States, General Union of Chambers of Commerce, Industry and Agriculture, and the People's Government of Ningxia Hui Autonomous Region. Group photo of Chairman Daurov Khussey (first from left) with other guests The 4th China-Arab States Expo was themed "New Opportunity, New Future," adhered to the principle of "extensive consultation, joint contribution and shared benefits", and focused on economic and trade cooperation, high and new technology, digital economy, and production capacity cooperation.At the signing ceremony, a total of 362 projects were signed between China and Arab States, suggesting RMB 185.42 billion yuan of investment and trade.The signed projects cover a variety of sectors, including modern agriculture, high and new technology, equipment manufacturing, infrastructure, production capacity cooperation, industrial park construction, "Internet + medical and health", tourism cooperation etc. Source: part of the content is extracted from the relevant reports of Xinhuanet
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