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Suggestions on how to enhance cooperation between Chinese and ASEAN chambers of commerce.
At the 20th ASEAN-China Summit, held in November 2017 in the Philippines capital Manila, the year 2018 was officially designated as the ASEAN-China Year of Innovation and cooperation in technological innovation and the digital economy was welcomed.
Innovation requires collective wisdom and joint efforts. To this end, both China and ASEAN member states need to mobilize their resources to ensure that their chambers of commerce are actively involved in bilateral economic and trade cooperation. As an industry association is the representative of enterprises, the cooperation between Chinese and ASEAN chambers of commerce is conducive to companies and industries entering the markets of each other’s country and to avoid vicious competition between enterprises.
However, the cooperation potential between the chambers of commerce of China and ASEAN member states remains undeveloped. First, there is insufficient communication of routine information concerning market trends, the status of key industries and projects with the potential for bilateral or multilateral cooperation. Second, both sides lack long-term mechanisms for jointly hosting activities dedicated to enhancing cooperation between companies. Third, as representatives of the business community, chambers of commerce on both sides have nonetheless failed to produce reports offering advice to government authorities and enterprises concerning how to promote regional economic cooperation.
In response, I propose four ways to strengthen cooperation between Chinese and ASEAN chambers of commerce.
First, chambers of commerce from ASEAN countries should be aware of the significance of the Belt and Road Initiative as a potential driving-force for their own national self-development.
Both Chinese and ASEAN chambers of commerce should make great efforts to achieve accomplishments in the Belt and Road construction. There are many advantages in developing economic and trade links between China and ASEAN. Both sides are connected by land and river-based transport networks, and ASEAN is attached to China along the Maritime Silk Road. These natural linkages between China and ASEAN have provided a sound foundation upon which cooperation has evolved since China and ASEAN began engaging in bilateral dialogue in 1991. China is ASEAN’s largest trading partner while the bloc is both China’s third largest trading partner and the leading destination for Chinese companies" overseas investment for four consecutive years. The ASEAN-China Free Trade Area offers an open market for both sides and in turn demands committed cooperation to achieve the goal of collective economic growth.
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