China and South Asian countries will explore new opportunities to develop trade relations further when they meet at the ninth China-South Asia Expo, which will be held in Kunming, Yunnan province, from June 19 to 24. According to the Department of Commerce of Yunnan Province, more than 1,400 domestic and foreign companies have registered to participate in this year’s expo, which will see Sri Lanka serve as the guest of honor.
China and South Asian countries have continued to strengthen their economic and trade relations. Last year, the bilateral trade value reached nearly $200 billion, doubling over the past decade with an average annual growth rate of about 6.3 percent, said the Ministry of Commerce. China has remained the largest trading partner of countries such as Pakistan and Bangladesh for many consecutive years. South Asian goods, including Nepal’s cashmere products, Afghanistan’s lapis lazuli, India’s jewelry, and Sri Lanka’s tea and spices, are widely favored by Chinese consumers,” Yan Dong, vice-minister of commerce, said during a news conference in Beijing on Friday.
“China and South Asian countries have accelerated their cooperation in emerging fields such as new energy, photovoltaics, electric vehicles, digital technology, and cross-border e-commerce, and positive progress has been achieved,” Yan said. He added that besides consolidating cooperation in traditional sectors such as agriculture, energy, minerals, and infrastructure, China and South Asian countries should expand cooperation in cutting-edge fields such as energy transformation, digital economy, low-carbon development, and intelligent manufacturing, jointly maintaining the stability of industry chains and supply chains.
The two sides should jointly oppose unilateralism and protectionism, and uphold the multilateral trading system with the World Trade Organization at its core, Yan said. Liu Yong, vice-governor of Yunnan, said the province would continue to expand cooperation and exchanges with neighboring countries in areas such as science and technology, talent, healthcare, and culture.
“We will fully leverage the nation’s instant tax refund policy for international travelers and further promote cross-border tourism,” Liu said. At the upcoming expo, two South Asian pavilions will be set up with nearly 800 booths, among which India and Pakistan will have the largest number of booths, both reaching 140. There will be 11 professional pavilions, including those covering manufacturing, green energy, the coffee industry, and the Chinese herbal medicine industry, said the Department of Commerce of Yunnan Province.
Source: The China Daily
