Fujian, ASEAN to deepen cooperation in economy, trade

East China's Fujian province will deepen cooperation with its friendship provinces and cities in the Association of Southeast Asian Nations (ASEAN) in economics, trade, and industrial capacity, according to Wu Nanxiang, head of the Department of Commerce of Fujian Province.

Wu made the remarks at the ASEAN-Fujian Friendship Provinces/Cities Conference held in Fujian's capital city of Fuzhou on Sept 16. This year's conference was held online at its main venue in Fuzhou and was broadcast online in seven ASEAN countries, including the Philippines, Indonesia, Laos, and Thailand.

Since the onset of the COVID-19 epidemic, the province has held nearly 30 online activities to promote economic and trade cooperation between Fujian and other countries and regions. Among them, six were meant to facilitate trade between Fujian and ASEAN countries, with more than 20,000 people taking part online, said Wu.

Wu said at the conference that the online event offers a platform for Fujian and its ASEAN friendship provinces and cities to explore new business opportunities, and agreements for nine projects valued at 1.4 billion yuan ($206.78 million) were signed at the conference, including a cross-border e-commerce project to be carried out by Fujian and the Philippines.

In the future, Fujian and ASEAN plan to continue to expand cooperation in economics and trade, industry, and digital economy, according to Wu.

Fujian is an important starting point of the ancient maritime Silk Road and has a long history of friendly exchange with people from ASEAN countries.

ASEAN is Fujian's largest trade partner, and the province saw robust growth in its foreign trade with ASEAN countries and regions last year, with trade volume rising by 17.5 percent year-on-year to nearly 249 billion yuan ($35.25 billion), a record high.

Statistics show that the total value of imports and exports between the two was nearly 144 billion yuan in the first seven months of this year, growing by 4.5 percent year-on-year. As of the end of 2019, ASEAN countries and regions had invested in more than 4,310 projects in Fujian, generating a total contractual investment of $15.72 billion.