Quzhou to expand businesses with BRI countries

Quzhou International Economic and Trade Center, a platform for the city to promote business ties with foreign countries, opens on June 28. [Photo/zjol.com.cn]

Companies in Quzhou, East China's Zhejiang province, who do businesses with countries that are part of the Belt and Road Initiative (BRI), received a boost on June 28, with the signing of four key projects held at an international economic and trade forum in the city.

Around 100 foreign guests, including ambassadors to China, consuls in Shanghai, government officials and business representatives from over 20 countries, attended the forum themed on economic and trade cooperation with BRI countries in Quzhou Thursday and witnessed the opening of Quzhou International Economic and Trade Center, a platform that has been established for the city to further enhance foreign trade.

So far, 18 countries that are looking to reach agreements on further business deals with China, such as South Korea, Venezuela, Cuba and Fiji, have set up their own pavilions at the center to display native specialties and showcase their cultures.

Nestor Enrique Torres Olivera, the Cuban consul-general in Shanghai, said, "More than 40,000 Chinese tourists visit Cuba every year, but most of them are from Shanghai. The new center, a good platform for us to showcase our development, will let more Quzhou people have a better understanding of Cuba."

"The setup of pavilions is a good idea and I am considering displaying African products here", said an African businessman who was impressed by what he saw at the Quzhou International Economic and Trade Center.

At the forum, international officials from consulates in Shanghai exchanged ideas on future cooperation in economic and trade matters. Four cooperation projects, covering the energy, green industry, battery and commerce sectors, were signed between Quzhou companies and their counterparts in Indonesia, Singapore, South Korea and Colombia.

Official data from the Quzhou government shows that in 2017, the total import and export value of the city reached 36.65 billion yuan ($5.52 billion), up 29.3 percent year-on-year. The trade value with BRI countries, 10.628 billion yuan, contributed 29 percent to the total.

In addition, by the end of last year, BRI countries had invested $581 million in 41 projects in Quzhou while Quzhou companies had invested $1.33 billion in 45 projects in 17 BRI countries.