Expanding “10+1” to “10+6”, the CAEXPO is Going Global

written by Chen Libing / translated by Ma Jinyu

Expanding “10+1” to “10+6”, the CAEXPO is Going Global

written by Chen Libing / translated by Ma Jinyu

With the stage set up by 11 countries, the performance conducted by 1.9 billion participants and the cheers made by 6 billion audiences, the CAEXPO, an international economic and trade exchange event, has always been a “10+1”-based arena opening up to the world. Over the past 11 years, China and ASEAN, by constant adjustment and complementation, have been closely connected as a whole, releasing more power of the “10 + 1 ＞ 11”. Moreover, as global economic integration becomes more important today, the CAEXPO, with its overall “10+1”image, brings China and ASEAN closer to the world.

Expanding “10+1” to “10+6”

The launching of the negotiation on Regional Comprehensive Economic Partnership (RCEP) by China, ASEAN, Australia, Japan, South Korea, New Zealand and India in 2013 helps China and ASEAN establish more intimate economic and trade links with countries outside the ASEAN region. To further exhibit the open attitude of CAEXPO and enhance the cooperation between China and countries outside the region, the CAEXPO will invite a RCEP member state other than the ASEAN countries to be the special guest country each year from 2014 onward.

Korea, one of the members of the RCEP, will be the special guest country of the 12th CAEXPO after Australia in 2014. Wang Lei, Secretary General of China-ASEAN Expo Secretariat introduced Korea would send its delegation comprised of high-level commercial of cers, organize Korea-themed activities like products experience meeting, trade pairing and exhibitions regarding building materials, electronic appliances and beauty cosmetics and host a series of investment promotion activities such as investment cooperation roundtable and industrial park investment conference,so as to provide effective channels and platforms for Chinese and ASEAN enterprises to expand their investment cooperation with Korean enterprises. Also, Korea will focus on displaying its competitive areas like port logistics, tourism, culture and education, boost the cooperation with China and ASEAN, and provide enterprises with “rich ore” in the trade in services.

Korean enterprises have been actively involved in the CAEXPO since its inception, and their products like automobiles, phones and cosmetics are favored by Chinese and ASEAN attendees. Attracted by this grand event, Korean institutions including the Korea importers association, Korean exhibition & convention company, Korea SMEs support center organized enterprises to attend the CAEXPO several times, exhibited the well-received electronic appliances, building materials and beauty cosmetics etc. and inked a batch of cooperation projects. Chungcheongbukdo (Korea), in particular, led its business delegation to join the CAEXPO for quite a few times, hosted the “Korea-China Biz Plaza”during the expo and obtained tangible outcomes.

China, ASEAN and Korea are one another's important trading partners and enjoy strong complementarity in economy. The negotiation on China-South Korea free trade zone has been ended so far and the one on RCEP is also expected to be completed in 2015. The CAEXPO helps them allocate resources optimally and realize mutual benef ts. Furthermore, it is an inevitable requirement for CAEXPO to keep up with the trend of regional economic integration and integrate into the global value chain.

Going Global

The CAEXPO, which opens up to the world, needs to build platforms to expand export of ASEAN products, make businessmen outside the region know about the big market of 1.7 billion people and opportunities led by CAEXPO’s joining in the global value chain, as well as show enormous business opportunities brought by regional economic integration and economic globalization.

More than 10,000 buyers from Japan, Korea and European countries, including world-renowned Walmart, have been invited to the CAEXPO since its inception. Meanwhile, this grand event also appeals to purchasers from America, France, Spain, and Bangladesh. North Saint-Quentin-Fallavier chamber of commerce and industry (France), Val-de-Marne (France) and Chungcheongbuk-do (Korea), together with their delegations, have become frequent attendants to the CAEXPO in recent years. The head of the World Bank, UNCTAD (United Nations Conference on Trade and Development) Secretary-General and WTO (World Trade Organization) Director General also attended the CAEXPO in succession.

It’s worth mentioning that the 11th CAEXPO in 2014 was backed by WTO and ITC (International Trade Centre), which gave advice and experience on promoting global economic integration, establishing a complete and permanent multilateral trading system, and enhancing the trade development of developing countries and those in economic transition, to speed up the CAEXPO to take a step from serving regional trade integration to global trade integration.

Moreover, Zhang Xiaoqin, Vice Governor of Guangxi Zhuang Autonomous Region, briefed that the WTO would host the "Trade Facilitation and Symposium on the Commemoration of the 20th Anniversary of the Establishment of the WTO" in the forthcoming CAEXPO, thus to show CAEXPO’s impacts on enhancing China-ASEAN cooperation and being part of Asian and global integration.

“Serving China and ASEAN from the global perspective.” As the purposes of CAEXPO reflect, with an open mind and broad vision, the grand event has attracted 450,000 businessmen in the past 11 years, and its global perspectives are unceasingly enhanced and improved. From “10+1” to “10+6” and to integrate into the global value chain, the CAEXPO is going global with friendly eyes, open attitude and positive pace.