China-Asean expo winds down with $7.7-B investments

GUANGXI, China – Over $7.7 billion worth of investments, involving mostly construction projects, have been sealed during the 4th China-ASEAN Exposition (CAEXPO) in Nanning City that concluded Wednesday night.

Deputy Director General Li Jin Zao of the CAEXPO and the 4th China-ASEAN Business and Investment Summit (CABIS) said the recent expo is by far the most successful, apparently because investors and business sectors have recognized the importance of the annual event.

“With the CAEXPO as platform, more forums were held to further improve the living standards of the people in China and the ASEAN,” Li said.

He said a total of 3,400 booths were set up at the Nanning International Convention Exhibition Center (NICEC), 1,908 of which were from ASEAN countries.

He noted that 8,287 exhibitors participated in the event, or an increase of 49 percent compared to the 3rd CAEXPO.

Li said the CAEXPO has already attracted the attention of countries outside China and the ASEAN, as evidenced by the attendance of officials of the World Bank and the United Nations Development Program (UNDP).

For his part, ASEAN deputy secretary general Nicholas Dammen said CAEXPO has established itself as the most important event for major business in China and the ASEAN, which groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Thailand, the Philippines, Singapore and Vietnam.

Dammen is grateful that the CAEXPO is not only about business but also about food safety and poverty alleviation.

The UNDP has also expressed strong support for the promotion of the Millennium Development Goals, the campaign to accelerate poverty reduction and social development.

The UNDP is part of the First China-ASEAN Forum on Social Development and Poverty Reduction, one of some 50 conferences held during the CAEXPO.

The 5th CAEXPO has been set for Oct. 20 to 23, 2008.