The Fourth China-ASEAN Exposition ( CAEXPO) opened?on
Sunday morning in the southern China city of Nanning. Political
figures and business leaders of China and the ten countries of the
Association of Southeast Asian Nations, or ASEAN will be present at
the four-day event.
Chinese Vice Premier Zeng Peiyan, Cambodian Prime Minister Hun
Sen, Prime Minister of Laos Bouasone Bouphavamh, Vietnamese Prime
Minister Nguyen Tan Dung and Crown Prince of Brunei Al-Muhatadee
Billah attended the opening ceremony of the Expo.
Chinese Vice Premier Zeng
Peiyan (center) ?attends the opening ceremony of the
Expo
Johannah Joy Phumaphi, Vice President of World Bank, said the
CAEXPO is an effective mechanism to the region's continued economic
success.
According to Phumaphi, emerging economies in East Asia
maintained an average GDP growth of 7 percent to 8 percent per
annum, and trade growth in the region is faster than GDP growth.
Intra-regional trade has risen from 43 percent to 56 percent in the
past decade. To sustain development and integration in the region,
Phumaphi called for more emphasis on education, flexible labor
system, and improvement of health system and food safety.
Starting from this year, the CAEXPO introduces the mechanism of
country of honor. One or two ASEAN countries will be designated as
the country (countries) of honor of the Expo every year, during
which a series of activities are organized to promote the country (
countries). This year's honor belongs to Brunei.
"Brunei is very happy to be the country of honor of the 4th
CAEXPO. The Expo has become a very important date on ASEAN
calendar. ..It is a good platform for future prosperity for our
people," said Al-Muhatadee Billah, Crown Prince of Brunei.
Scheduled to run from Oct. 28 to 31, the Expo provides a total
of 3,400 booths. ASEAN use 1,128 booths which account for 33
percent and Chinese enterprises use 2,215 booths, or 65 percent of
the total.
Exhibits of ASEAN focus on metals and minerals, motor vehicles
and accessories, handicrafts, agricultural products and food, while
Chinese exhibits center on construction machinery, food processing
and package machinery, electric power equipment, spare parts and
construction materials.
It is estimated that 20,000 professional buyers will attend the
Expo.
Concurrently held with the Expo is the 4th China-ASEAN Business
and Investment Summit (CABIS) and a series of ministerial
conferences and forums, covering a wide range of issues including
port development, women's rights, tourism and electric power
cooperation.
(Xinhua News Agency October 28, 2007)
