CABA to promote business between ASEAN, China

THE China-ASEAN Business Association (CABA) launched in Kunming on 6 June in Kunming City, is a non-governmental organisation based in Singapore that seeks to promote business trade and investment opportunities in the ASEAN-China Free Trade Area. Developed by Pushpanathan Sundram, who is chairman of CABA and former deputy secretary general of the ASEAN Economic Community, and Xu Ningning, co-chairman of CABA and executive president of the China-ASEAN Business Council, the new organisation will advance the interests of ASEAN and China.

The launch was led by Ruan Fengbin , deputy mayor of Kunming City in the presence of national trade associations from ASEAN, Chinese government officials, and the private sector.

“With the forthcoming establishment of the ASEAN Economic Community in 2015, the implementation of ASEAN-China Free Trade Area, and the expected conclusion of the Regional Comprehensive Economic Partnership in 2015, CABA will bring together the private sector of ASEAN and China to seize these opportunities and leverage on their benefits,” said Mr Sundram.

China is ASEAN’s largest trading partner since 2009. Trade between the two sides has increased from US$60 billion in 2003 to US$440 billion in 2013. Last year the Leaders of China and ASEAN agreed on a new target of US$1 trillion to be achieved by 2020. The establishment of CABA is viewed by many in the business sector as a timely intervention to ride on the thriving trade and investment between ASEAN and China.

CABA at the opening of GMS Economy Corridor Week 2014

The 6^th Greater Mekong Subregion (GMS) Economic Corridor Week held from 6-10 June in Kunming, celebrated with the theme, “Pragmatic Cooperation, Benefiting the People’s Livelihood”, which promotes financial cooperation within the GMS region. This event is a key activity of the China Kunming Import & Export Fair, and an important platform for economic cooperation between Yunnan and the GSM region.

The opening ceremony was presided by Du Junjun, deputy director-general of Yunnan Provincial Department of Commerce, and attended by Liu Huiyan, vice governor of Yunnan Province, Mr Sundram, Mr  Xu, Niu Shaoyao, chairman of Association for Economic Cooperation and Trade Promotion between Yunnan and Southeast and South Asia, and Ms Bouatha Khattiya, deputy minister of Party Committee of the Lao PDR Government’s Office.

During his speech, Mr Sundram stressed the importance of public-private partnership “as governments recognise that they would not be able to implement large infrastructure projects alone due to the financing requirements and the private sectors competencies in certain aspects of infrastructure project development”. As former deputy secretary general of the ASEAN Economic Community, he also underscored the importance of the people element in the GMS.    

“Both the ASEAN Economic Community and GMS Economic Corridor play a role in raising people’s income and living standards. Therefore more needs to be done in the trade facilitation area, especially in eliminating non-tariff barriers and streamlining of custom procedures,” he added.

The event was co-organised by the GMS Business Council and Department of Commerce of the Yunnan Province, and supported by the CABA.