China-ASEAN Expo ends on high note

Andi Haswidi, The Jakarta Post, Nanning

The fourth China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) concluded Wednesday with the signing of an international economic cooperation deal worth $6.15 billion.

"The CAEXPO and CABIS have become more pragmatic, professional and mature. Thanks to the participation of business players from China and the ASEAN countries, we have achieved our expected results at both events," CAEXPO and CABIS secretary-general Lin Jin Zao said in Nanning, Guangxi Zhuang autonomous region, China.

The ASEAN secretariat's deputy secretary-general Nicholas Tandi Dammen also praised the success of the CAEXPO and CABIS events, saying that they would continue to play an important role in promoting the establishment of a China-ASEAN free trade area.

According to Lin, the value of trade between the two sides had grown by 12.1 percent from last year's CAEXPO, with machinery and equipment dominating on $650 million.

Building materials were next on $140 million, farm products and foodstuffs on $150 million, hardware and chemicals on $130 million, and electronics and electrical appliances on $100.

During the course of CAEXPO, 26 investment promotions were held and 182 economic cooperation agreements were signed with a total value of $6.15 billion -- 5.28 percent up from last year.

In total, CAEXPO had 3,400 stands, 1,908 participating enterprises, 8,281 exhibitors and 33,480 trade visitors.

Next year's CAEXPO and CABIS will also be held in Nanning from Oct. 20 to 23.

Lili Haryati, the head of Asia market development at Indonesia's National Agency For Export Development, said the Indonesian delegation felt the success of the expo had exceeded expectations.

"Last year, we (Indonesia) recorded total trade of $1.4 million, but this year, one transaction for 6,000 tons of CPO alone was already worth more than $4 million," she said.

She added that there were 10 Chinese investors interested in buying 100 tons of iron ore per month from Indonesia and that she expected this to increase to 240 tons next year.

Other significant events were the signing of an MoU on the twinning of Papua province and Guangxi Zhuang autonomous region, and the inauguration of the Papua trade and investment office in Beijing.

Papua Chamber of Commerce and Industry chairman John Kabey said that the two events were designed to forge stronger relations between Papuan and Chinese businesses.

"Papua can offer its abundant commodities for trade and future exploration. Plus, we can seek better pricing of Chinese imports so as to ensure lower prices for Papuans," he said.