Boosting Regional Development: China-ASEAN Cooperation in 2024

On September 24, 2024, the 21st China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit commenced in Nanning, Guangxi Zhuang Autonomous Region. This event showcased various products from ASEAN countries, including Vietnam's Trung Nguyen coffee and Malaysia's Musang King durian, which have gained popularity in the Chinese market. Chinese Vice Premier Ding Xuexiang highlighted the successful cooperation model between China and ASEAN, emphasizing the importance of trade ties and mutual respect. The expo serves as a vital platform for dialogue and collaboration across multiple sectors, including agriculture, technology, and tourism. Since its inception in 2004, it has fostered strong economic relationships, with China being ASEAN's largest trading partner for 15 consecutive years. The cumulative investment between the two regions has surpassed $400 billion, indicating a robust economic partnership. The event also focused on advancing the China-ASEAN Free Trade Area, with ongoing negotiations for version 3.0 aimed at enhancing investment and services trade. The construction of the China-ASEAN Information Harbor, initiated in 2015, has led to nearly 20 projects in digital government and industries, promoting digital connectivity. In addition, the expo introduced a new section dedicated to strategic emerging industries, showcasing advancements in digital technology and green innovations. This reflects a commitment to sustainable development and regional cooperation, paving the way for future industrial and supply chain collaborations.