CCA Board Invited to Prominent China-ASEAN Electric Power Equipment Conference

• 13 July 2024
• Local News
• 2257 Views

The 2024 China (Chongqing) – ASEAN Electric Power Equipment Manufacturing Industry Conference on Innovation and Cooperation commenced in Fuling, Chongqing, aiming to foster green development and regional prosperity by inviting international investors to explore business and investment opportunities. This significant event took place on 9 July 2024, as per the Ministry of Information’s press release.

The Cambodian Constructors Association (CCA), representing the ASEAN Constructors Federation, has been invited to enhance cooperation between the Chengdu-Chongqing region and ASEAN countries within the power equipment manufacturing sector. Fuling’s power equipment industry has seen substantial growth, with a notable industry cluster comprising specialised enterprises and national high-tech companies like Chongqing Kebao Cable Co., Ltd. In 2023, this sector achieved an output of 2.4 billion yuan, reflecting a 40% increase.

Since the Regional Comprehensive Economic Partnership (RCEP) agreement’s implementation, Fuling district has encouraged collaboration between key industries and RCEP member states, particularly focusing on ASEAN nations. The economic ties with ASEAN emphasise sectors such as new chemical materials, metals, new energy vehicles, electronic information, biomedicine, and food and agricultural product processing. The New International Land-Sea Trade Corridor (ILSTC) expedites freight transport in approximately ten days, thereby enhancing trade and investment with ASEAN countries.

Fuling aims to leverage the ILSTC to develop foreign trade service enterprises, attract foreign investments, and facilitate industry transfers from eastern China, thereby establishing a competitive modern manufacturing system. In 2023, Fuling’s exports to ASEAN, including machinery, electrical products, basic organic chemicals, and automobiles, totalled 910 million yuan, marking a 49.9% year-on-year increase. Machinery and electrical product exports surged by 140% to 420 million yuan, enhancing the region’s presence in ASEAN markets.

Additionally, Fuling has signed a strategic cooperation framework agreement with the RCEP Industry Cooperation Committee, promoting various collaborations to boost trade and economic activities. During the conference, Kha Leng, Secretary of State of the Cambodian Ministry of Commerce, highlighted Cambodia’s commercial advantages in terms of geographical location, infrastructure, preferential policies, and human resources. She invited international investors to explore business opportunities in Cambodia to achieve better regional prosperity.

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