The Philippines will host the 10th annual trade expo between China and the Association of Southeast Asian Nations (ASEAN) in 2013, with the expo bearing the theme, "Regional Cooperation and Development: New Opportunities, New Driving Forces, and New Stage.”
Next year's China-ASEAN Expo will be held from September 20 to 24, with the aim of engaging businesses in the region, yielding billions of dollars’ worth of private contracts, and “boost[ing] the construction of the ASEAN-China Free Trade Area (ACFTA).”
The handover of hosting duties to the Philippines was made over the weekend at the conclusion of the 9th China-ASEAN trade expo in Nanning, China.
Xi Jinping, vice president of the 9th China-ASEAN Expo and 9th ASEAN Business and Investment Summit, said the recently concluded trade expo yielded a total of US$1.88 billion in contract value, 3.9 per cent higher than last year’s expo.
He said the exchanges during the forum sought to create business opportunities for enterprises that promote and deepen strategic partnerships between China and ASEAN economies.
According to the ASEAN secretariat, the organization’s turnover with China has gone from $3.23 billion in 2000 to $28.4 billion in 2011, while China’s foreign direct investments in ASEAN economies also grew from $0.62 billion in 2005 to $5.91 billion in 2011.
Xi said that in 2011, China continued to be ASEAN’s largest trading partner, having overtaken the EU and Japan in 2009.
He also said that China has also maintained her position as the second biggest export destination for ASEAN for two consecutive years.
China continues to push for activities that increase its trade and investments with ASEAN members, despite territorial issues that involve it and several member nations, including the Philippines.
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