ASEAN Countries Show Willingness for More Cooperation with Shenzhen
Officials from Southeast Asian countries have shown a willingness to develop more economic and trade cooperation with Shenzhen during discussions at the China-Southeast Asia Peace and Development forum. The forum ended last Saturday which also marked the International Day of Peace.
Uong Huot the former prime minister of Cambodia and vice chairman of the board for the Cambodian Institute for Cooperation and Peace said Shenzhen and Cambodia have potential for cooperation since Shenzhen has big advantages in terms of technology and capital while Cambodia has vast lands and cheap labor. He also hopes that more ASEAN countries can sign cooperation with Shenzhen to further strengthen exchanges for a win-win situation.
ASEAN countries are a source of imports in Shenzhen, and are the second biggest trade partner of the city and its fourth largest export market. Last year alone trade in goods and other materials between Shenzhen and ASEAN countries have exceeded US$ 43.89 billion, which is around ten percent of the city total goods and material exports. And in the current sluggish economy a stable development of cooperation between ASEAN countries and Shenzhen will reflect the vitality and competitiveness around the region and will push Shenzhen into a two way trade to explore more investment fields.
Since ASEAN countries seek more investment from Shenzhen, several enterprises are showing concern. A manager of a medical device manufacturer said that some ASEAN countries are only accepting products made in Europe, Japan and the United States in their medical procurements when there are a lot of Chinese enterprises capable in supplying high quality medical products in a much reasonable prices. Such problems should be look at if closer cooperation is desired between China and its neighboring ASEAN countries.