China's agricultural trade with B&R countries totaled 77 billion U.S. dollars in 2018
China's agricultural trade with B&R countries totaled 77 billion U.S. dollars in 2018
22 Jul 2019
China's agricultural trade with the Belt and Road (B&R) countries totaled 77 billion U.S. dollars in 2018, according to the Ministry of Agriculture and Rural Affairs Friday. China has launched more than 650 agricultural investment projects in B&R countries, with an investment of 9.44 billion dollars, up 70 percent compared with five years ago, said Ma Hongtao, an official with the ministry, at a press conference. These projects promoted the development of local industries such as grain, cash crops, animal husbandry and agricultural processing, Ma said. Chinese-funded agricultural enterprises have built public welfare facilities in the B&R countries, employing more than 100,000 workers in the regions. Ma said that the ministry has signed agricultural and fishery cooperation documents with more than 80 B&R countries. Trade from goods with B&R countries totaled 1.3 trillion dollars in 2018, up 16.3 percent year on year and outpacing the growth rate of the country's total foreign trade last year, according to the Ministry of Commerce. Source: Xinhua News Agency
VP at EU Chamber of Commerce in China upbeat about upcoming import expo
VP at EU Chamber of Commerce in China upbeat about upcoming import expo
19 Jul 2019
European companies pin high hopes on the second China International Import Expo (CIIE), especially on more concrete measures on opening the Chinese market, said Carlo D'Andrea, Vice President at the European Union Chamber of Commerce in China. "The first time I heard of the CIIE was in 2017, and I thought it would be an important moment for our chamber since CIIE is not an ordinary trade fair but China's contribution to the global free trade system," he said in an exclusive interview with Xinhua. Heads of state, government leaders and officials from 172 countries, regions and international organizations, as well as over 3,600 companies from around the world, attended last year's first CIIE, which impressed D'Andrea greatly. "Regarding the feedback from our members, participation was important, as companies had the chance to meet with Chinese consumers and find new partners," he said. The second CIIE, which is scheduled in early November this year, is set to be larger in scale and better in quality than last year. Given the fact that China was the second-largest partner for EU exports and the largest partner for EU imports in 2018, D'Andrea expects that more members would actively participate the CIIE this year, as they have seen tremendous business opportunities from China's ongoing consumption upgrade and stronger purchasing power. Apart from providing an opportunity for enterprises across the world to enter the huge Chinese market, D'Andrea said the CIIE has been regarded as a great moment to announce new measures of reform and opening-up. Major measures for a higher level of opening-up such as further lowering tariffs and streamlining customs clearance, consistently relaxing control over market access, cultivating a world-class business environment, establishing more pilot free trade zones and promoting multilateral and bilateral cooperation were announced during the first CIIE. "CIIE is a moment where all eyes of the world will be on China, and this could be a great moment to have important announcements followed by actions to show its willingness to open the market," he said. In terms of business cooperation, D'Andrea noted that China and European countries have much to offer to each other with a high degree of convergence of interests. "It is worth noticing that protectionism harms everyone. As one of the most important bilateral relations in the world, China and Europe should work together to offset the negative influence of protectionism and re-energize the world economy." Founded in 2000, the European Union Chamber of Commerce in China now has more than 1,600 members in nine Chinese cities. According to its newly released "China Business Confidence Survey 2019," European companies in China continue to see solid revenue growth, and 62 percent of respondents view China as a top-three destination for present and future investment. Source: Xinhua News Agency
ASEAN overtakes U.S. to become China's second-largest trading partner
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ASEAN overtakes U.S. to become China's second-largest trading partner
19 Jul 2019
Workers in a logistics park at the China-ASEAN free trade area. (Xinhua) The Association of Southeast Asian Nations (ASEAN) became China's second-largest trading partner in the first half of 2019, overtaking the U.S. for the first time since 1997. In the first half of this year, China's trade with ASEAN rose 10.5 percent to nearly 2 trillion yuan, accounting for 13.5 percent of the country's total trade volume, according to China's customs data. During the same period, China's trade with the U.S. dropped 9 percent to 1.8 trillion yuan, accounting for 12 percent of the country's total trade volume. In June, China's exports to the U.S. fell by 8 percent year-on-year, and imports from the U.S. slumped by 31 percent, customs data showed. The shift is underpinned by China-ASEAN strategic mutual trust, expanded interests from economic and trade cooperation, and shared aspirations for safeguarding multilateralism. Meanwhile, the Belt and Road Initiative (BRI) has become a new highlight of China-ASEAN economic cooperation. The ASEAN region has witnessed the most remarkable outcomes and potential in regards to BRI, Huang Xilian, Chinese Ambassador to ASEAN said at a seminar on ASEAN-BRI relations held in Jakarta, capital of Indonesia, on June 25. Source: People's Daily Online
AIIB offers local-currency funding to private sector
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AIIB offers local-currency funding to private sector
17 Jul 2019
The Asian Infrastructure Investment Bank (AIIB) will start this month to offer local-currency financing to private-sector clients from India, Indonesia, Thailand, Turkey and Russia, the lender disclosed in a statement sent to the Global Times on Wednesday. The AIIB's offer meets the financing needs of local companies at a time when they are feeling increasingly insecure about the US dollar, as the Trump administration often imposes financial sanctions on other countries, an expert said. The rollout of local-currency financing will begin this month, with other currencies to be added according to client needs and priorities, the China-proposed investment bank revealed in the email. "Offering financing alternatives in local currencies will help the AIIB's private-sector clients hedge against volatile foreign exchange markets ...When clients secure funding in their local currency, they are better equipped to manage and grow sustainable businesses, thereby becoming stronger credit for AIIB's loan portfolio," an AIIB senior press officer told the Global Times. AIIB President Jin Liqun said recently during the AIIB's fourth annual meeting that the bank's local-currency financing decision was born to meet the needs of emerging economies, thepaper.cn reported. The AIIB's local-currency financing offer comes at a time when many countries are feeling insecure about the US dollar, particularly as the Trump government often uses financial sanctions as a means of political punishment. In June, US Treasury Secretary Steven Mnuchin said the US government would launch measures to freeze billions of dollars in Iranian assets. "The Trump administration's trade protectionism and financial hegemony are damaging the greenback's international reputation, as countries are taking action to depeg their currencies from the US dollar," Zhou Yu, director of the Research Center of International Finance at the Shanghai Academy of Social Sciences, told the Global Times on Wednesday. "The AIIB's local-currency financing offer helps countries to shake off their dependence on the US dollar and avoid possible exchange rate risks - that's why the proposal is welcomed among local economies," he said. Of the five countries where the AIIB will offer local-currency financing soon, Russia and Turkey have already withdrawn from the list of major US government bond holders. In 2018, the value of the Turkish lira nosedived against the US dollar, causing alarm not only in the country but on global financial markets. In the fourth quarter of 2018, the US dollar's share of global foreign exchange reserves dropped to about 61 percent, the lowest since 2013, data from the International Monetary Fund showed. The US Fed's move to further cut interest rates would also weaken the US dollar's position as the dominant international currency, Zhou said. In comparison, the yuan had a share of about 1.9 percent of global foreign exchange reserves by the end of 2018. "There's still a long way to go for the yuan to challenge the US dollar's dominance, but the yuan is slowly gaining. In the future, there is room for the yuan to increase its internationalization level as China's economy stabilizes," Zhou commented. Source: Global Times
New China-Europe freight train route links Xi'an, Bishkek
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New China-Europe freight train route links Xi'an, Bishkek
17 Jul 2019
XI'AN, July 17 (Xinhua) -- A freight train left Xi'an, capital of northwest China's Shaanxi Province, heading for Bishkek, capital of Kyrgyzstan, on Tuesday, marking the opening of a new China-Europe freight train route. The train carried 50 containers of goods including mechanical equipment, industrial raw materials, clothing and shoes from the provinces of Shaanxi, Zhejiang and Jiangsu. It will leave China through the Horgos Pass in Xinjiang and pass Kazakhstan before reaching its destination. The whole trip will take seven days, compared to the previous 10 days when there was no direct freight train from Xi'an to Bishkek, said Yuan Xiaojun, general manager of Xi'an Free Trade Port Construction and Operation Co., Ltd. The new freight route will serve as a fast and efficient logistics corridor between China and Kyrgyzstan and will bring new opportunities for the two countries in various fields such as trade, culture and scientific and technological exchanges, said Sun Yimin, director of the administrative committee of Xi'an International Trade and Logistics Park. Xi'an, known in ancient times as Chang'an, is the starting point of the Silk Road and plays a key role in the Belt and Road Initiative. Xi'an launched its first China-Europe freight train on Nov. 28, 2013. The city launched 1,235 China-Europe freight trains in 2018, 6.4 times the number in 2017, transporting a total of 1.2 million tonnes of goods with a value of 1.72 billion U.S. dollars, according to local customs authorities. Source: Xinhua
Uzbekistan – China: Active Development of Bilateral Cooperation under the Framework of the Belt and Road
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Uzbekistan – China: Active Development of Bilateral Cooperation under the Framework of the Belt and Road
16 Jul 2019
Shukhrat Umirov, Press -attaché of the Embassy of the Republic of Uzbekistan in China In the past, the Great Silk Road was of great importance in relations between different countries and people, promoting the development of trade relations in the vast expanse of Eurasia. Moreover, there was an exchange of information, spread new products and crops through the Great Silk Road, there was mutual enrichment of different cultures and civilizations. The territory of modern Uzbekistan, its ancient cities such as Tashkent, Samarkand, Bukhara and Khiva were in the heart of the Great Silk road, acting as a bridge between the regions of Asia and Europe. Today, centuries later, the Belt and Road initiated by Chinese President XI Jinping is designed to revive this ancient silk road, contributing to the deepening of cooperation in the fields of trade and investment, transport communications and energy, infrastructure development and tourism. Thanks to the joint efforts of both sides, bilateral cooperation under the framework of the "Belt and Road" initiative has been developing actively in recent years. By the end of 2018, the trade turnover between our countries reached 6.4 billion dollars, increasing by 35%. Last year, during the SCO summit in Qingdao, 46 investment projects worth $ 6.86 billion were signed. Moreover, in 2018, the direct investment of Chinese companies in Uzbekistan exceeded $ 500 million. The basic principles of the Belt and Road initiative have very important conceptual significance, which also determines the success and efficiency of the projects implemented under this initiative. This is also proved by the results that China has achieved over the past five years. It is impossible to achieve such great results without "mutual consultation" and without considering the interests of all parties involved in the implementation of "Belt and Road" project. Naturally, these countries can only become long-term cooperative partners with common goals and tasks if they consult together and take into account the interests of all parties. It should be noted that the strategies of actions in five priority areas of development of the Republic of Uzbekistan from 2017 to 2021 have a lot of common with the Belt and Road. I would like to emphasize that today the relations between the Republic of Uzbekistan and the People's Republic of China have reached such a high level of comprehensive strategic partnership. There are several contributing factors. First, an open and trusting personal relationship has been developed between the two leaders. This is also a guarantee for further consolidation of the comprehensive strategic partnership between the two countries in the future. Second, Uzbekistan and China are neighbors linked by centuries of friendship and cooperation forged over thousands of years. Uzbekistan and China are now close strategic partners of cooperation. On the basis of the principle of equality, mutual respect and mutual benefit, Uzbekistan and China have resolutely deepened the multi-dimensional and long-term cooperative relations in an all-round way. Third, Uzbekistan and China have been actively cooperating under the SCO and the Belt and Road framework. Uzbekistan, a country on the great Silk Road in history, is an important partner of China under the framework of the Belt and Road Fourth, Uzbekistan and China share similar and consistent positions and approaches to resolving regional and international issues. Uzbekistan and China support each other on key security issues, especially in central Asia. Such high-level bilateral relations have laid a solid foundation for deepening bilateral cooperation in various fields, not only in the political and economic, but also in the people and culture exchange. In short, Uzbekistan and China have long-term and mutual interest in each other. This, no doubt, is an important guarantee for the successful cooperation between the two countries under the framework of the Belt and Road. It is believed that the implementation of this large-scale project, which now involves 60% of the world population, will promote the formation of a unified zone of peace, tranquility and prosperity, and strengthen the cooperation and friendship between countries and people.
BCCI President visits SRCIC Beijing Office
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BCCI President visits SRCIC Beijing Office
5 Jul 2019
Bulgarian President Rumen Radevis onhis state visit to China at the invitation of Chinese President Xi Jinping from July 1 to 5 during which he attended the 2019 Summer Davos Forum. Tsvetan Simeonov, President of the Bulgarian Chamber of Commerce and Industry (BCCI), led the business delegation in accompanyingPresident Rumen Radev. On July 2, BCCI andChinaCouncil for the Promotion of International Trade (CCPIT)Dalian Sub-Counciljointly held the Bulgaria-China (Dalian) Business Forumand signed cooperativeagreement during the 2019 Summer Davos Forum. 21 enterprisesfromBulgarian business delegation held "one-to-one" talks with more than 100 enterprises of Dalian city. On July 3, a delegation led by Tsvetan Simeonov, President of BCCI, visited SRCIC Beijing office. SRCIC Deputy Secretary General Wang Yan received the delegation. BCCI President Tsvetan Simeonov (L2) and SRCIC Deputy Secretary General Wang Yan (R2) Tsvetan Simeonov gave a detailed introduction of BCCI and the investment situation of Chinese enterprises in Bulgaria. He hoped to introduce more Chinese high-tech enterprises to invest in Bulgaria. Deputy Secretary General Wang Yan introduced the organization structure of SRCIC, in particular the professional committees and the services provided to its members. In the afternoon, the Bulgarian Embassy in China held the "China-Bulgaria Business Forum" in Beijing. Bulgarian President Rumen Radev, BulgarianAmbassador to China Grigor Porozhanov,BCCI President Tevitan Seminov, and China International Chamber of Commerce Secretary General Yu Jianlong attended the Forum and delivered opening speeches. An enterprisesmatchmaking meeting was also held during the Forum. Forum Scenes
Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
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Turkish Çalık Holding Group Representative visits SRCIC Shanghai Office
4 Jul 2019
Ms. Iraz, business representative of Çalık Holding Group in China (L) and Ms. Tian Xiaohong, SRCIC Deputy Secretary General (R) On July 4, Ms. Iraz, business representative of Çalık Holding Group in China visited SRCIC Shanghai Office and Hongqiao Overseas Trading Center accompanied by Ms. Tian Xiaohong. The two sides discussed the issues pertaining to the establishment of an office in Shanghai for Çalık Holding Group. Ms. Tian Xiaohong gave a detailed briefing on the relevant situation of Hongqiao Overseas Trade Center, and said SRCIC Shanghai Office could offer a help for Çalık Holding Group to participate in China International Import Expo. “We are also willing to recommend the most appropriate office for Çalık Holding Group in Shanghai, provide consultation with the relevant preferential policies of the government and assistance in visa application, taxation, finance, business registration, legal affairs, etc.”Ms. Tian Xiaohong said. Ms. Iraz said that she is very grateful for the warm reception of SRCIC, and she would submit a formal report to the high management level of Çalık Holding Group to confirm final location and details.
Seminar on Investment Opportunities between Thailand and Shaanxi Province held in Xi’an
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Seminar on Investment Opportunities between Thailand and Shaanxi Province held in Xi’an
2 Jul 2019
On July 2, the Seminar on Investment Opportunities between Thailand and Shaanxi Province was successfully held in Xi'an with the full assistance ofSRCIC. The Seminar aims to enhance the exchanges between Thailand and Shaanxi province in investment policies, environment and opportunities, to build a platform for cooperation, and to promote Shaanxi enterprises to "go out" in Thailand. More than 150 representatives of Thai and Shaanxi entrepreneurs attended the Seminar, and SRCIC Deputy Secretary General Diane Bian was invited to attend. Ms. Oracha Tanakorn, Consul General, Royal Thai Consulate-General in Xi'an and Mr. Li Jianhua, Vice President of China Council for the Promotion of International Trade (CCPIT)Shaanxi Sub-Council delivered speeches at the Seminar. Mr. Li Jin, Secretary General of the Chongqing International Chamber of Commerce presided over the Seminar. Ms. Oracha Tanakorn, Consul General, Royal Thai Consulate-General in Xi'an delivering the speech At the Seminar, Ms. Wu Yiyi, Director of the Shanghai Office of the Investment Promotion Board of Thailand, introduced the latest investment policies and opportunities in Thailand. Mr. Tsai Wai Tsai, Senior Vice PresidentofGlobal Business Divisionof Kasikornbank of Thailand, gave a presentation on Thai finance, investment policy and services. After the Seminar, the members of the Thai Investment Committee accompanied by SRCIC staffs visited Xi'anlocal enterprises.
Lebanese Fransabank Representative called on SRCIC Shanghai Office
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Lebanese Fransabank Representative called on SRCIC Shanghai Office
1 Jul 2019
On 1 July, WalidDaouk, Former Information Minister of LebanonandBoard Member of FransabankGroup, called on SRCIC Shanghai Office. SRCIC Deputy Secretary General Ms. Tian Xiaohongheld a friendly talk with WalidDaouk. SRCIC Deputy Secretary General Tian Xiaohong(L3) and WalidDaouk(R3) WalidDaouksaid it was his second visit to Shanghai since 2012and he marveled at breathtaking changesof the city. Nowadays, China has become a hugemarket with the increasing growth. Walid Daouk alsoconveyed the greeting of AdnanKassar, Chairman and CEO of Fransabank Group andHonorary Chairman of SRCIC.He said Chairman Kassar specially requested him to visit SRCIC Shanghai Officethis time, hoping SRCICand the Kassarfamily will always be close to each other and will fully support mutualdevelopment. Ms. Tian Xiaohongand Mr. WalidDaoukexchanging gifts Deputy Secretary General Ms. Tian Xiaohongexpressed hergratitude to Chairman Kaasarfor thesupport, care and helpto SRCIC, especially for the warm reception of the delegation led by SRCIC ChairmanLu Jianzhongand Secretary General Li Zhonghangto Lebanon.“The deepening of China's opening uptotheworld provides opportunities for Fransabank to embark on the Chinese market.SRCIC Shanghai Officewill giveall its strengthtoofferassistance andprovide the latest and preferentialpoliciesto Fransabank .”Ms. Tian added. Walid Daoukinvited Ms. Tian Xiaohong to visit Lebanon in the future.Ms. Tian received the warm invitation by expressingthat she will bring a delegation of Chinese enterprises to Lebanonasan opportunitytoincrease culturaland commercial exchanges.She also iteratedthat SRCIC is willing to act as a bridge and a tie to match the projects between two countries. Both two sides praised theefficacy ofmeetinghoping to have the deepened cooperation. Ms. Tian Xiaohongand Mr. Walid Daoukarelooking forward to seeing each otheragain at the 2019 Silk Road Business(Hong Kong) Summit in early December.
SRCIC Vice Chairman and Secretary General Li Zhonghang attends 2019 Asia Pacific Business Forum
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SRCIC Vice Chairman and Secretary General Li Zhonghang attends 2019 Asia Pacific Business Forum
21 Jun 2019
On June 20, SRCIC Vice Chairman and Secretary General Li Zhonghang was invited to attend 2019 Asia Pacific Business Forum (AFBF) held in Port Moresby, capital of Papua New Guinea. Undertheme of Global Goals, Local Opportunities, participants discussed and exchanged views on topics includingClimate and Disaster Resilience for SMES, Infrastructure and Connectivity Game Changers, Inclusive Business in Asia Pacific, Best Practice and Emerging Opportunities in Resources and Energy, and Green Finance and Financial Inclusion. Dr. Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations and Executive Secretary of Economic and Social Commission for Asia and the Pacific (ESCAP) and Dr. George Lam, President of ESCAP Sustainable Business Network delivered welcoming speeches respectively at the opening session. H.E. James Marape, Prime Minister of Papua New Guinea delivered opening speech. Li Zhonghang,SRCIC Vice Chairman and Secretary General (L1), Dr. Armida Salsiah Alisjahbana, Under-Secretary-General of the United Nations and Executive Secretary of ESCAP, and Lee Ju Song, Executive director of ICC Asia David Morris, Chairman of 2019 Asia Pacific Business Forum (L1), Li Zhonghang,SRCIC Vice Chairman and Secretary General, Dr. George Lam, President of ESCAP Sustainable Business Network Li Zhonghang, along with Vajira Piyasena, CEO of Fiji Ports Corporation, Simon Lacey, Vice President of Huawei Technologies Co., Ltd, Roy Mumu, Secretary Department of Transport, and Paul Komboi, Managing Director of Dataco Limited, participated the panel session on Infrastructure and Connectivity Game Changers. Panel Session Mr. Li indicated that Pacific Island isan organic component of the south route of the 21st Century maritime silk road and an indispensable part of the Belt and Road Initiative (BRI). “Duringthe process of BRI construction and cooperation with South Pacific countries, the connectivity and business links have been significantly strengthened not onlyconfining inPacific countries, but also reaching out to Pacific countries and Eurasian countries.”Mr. Li emphasized. On the same day, Li Zhonghang signed the Memorandum of Understandingwith John Lacey, President of Papua New Guinea Chamber of Commerce. Mr. Lialso expressed his views on the cooperation between China and Papua New Guinea in an interview with Papua New Guinea Commercial Television (EMTV). Li Zhonghang(L),SRCIC Vice Chairman and Secretary General and John Lacey (R), President of Papua New Guinea Chamber of Commerce, signingMemorandum of Understanding. Li Zhonghang was interviewed by Papua New Guinea commercial television (EMTV). Both Lee Jusongand David Morrisexpressed their gratitude to Li Zhonghang for attending the forum, and discussed the follow-up cooperation and the possibility of co-hosting of Asia Pacific Business Forum. Li also invited them to attend the 2019 Silk Road Business Summit to be held in Hong Kong in early December.
Andrieieva Tetiana: My Life in China
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Andrieieva Tetiana: My Life in China
19 Jun 2019
Andrieieva Tetiana, an Ukrainian student sponsored by SRCIC Silk Road Sunshine Fund International Understanding No.4 2019, a magazine sponsored by Chinese Association, published an article“My Life in China”from Andrieieva Tetiana, an Ukrainian student sponsored by SRCIC Silk Road Sunshine Fund. The full text is as follows: I am studying in Xi`an Jiaotong University for one and half year. During this time I improved my Chinese language , learned Chinese culture, participated in various events and festivals. I also met many people from different countries, it is very interesting to communicate with them, to discover the customs and traditions of other countries. Study in Xi`an Jiaotong University is not very easy, but interesting. My major is international Economics and Trade. Last year we studied Chinese language and mathematics, and this semester we began to study specialized subjects. I am very pleased with the quality of my study here, most of the teachers are very good specialists. After class I usually go to library, because it is very comfortable place for study. I want to learn Chinese culture so besides my classes I also attended Chinese drawing and Chinese cuisine classes . Of course, during my study here I often take part in various events where every foreingn student can represent his country or own talents. Last year in winter we took part in a cultural festival. This is a very interesting event where took part a people from 60 countries. Each country presents own traditions, cuisine, national clothes, dances and much more. The event was very fun. Also in the spring we went to the Tianshui . There foreign students taught in schools, talking about their countries and every participant represented own talents like dancing, singing and much more. We visited the local attractions ( Fuxi Temple, Maijishan Grottes, Yuquan temple) and met with Chinese high school students. It was an interesting experience. In summer, together with foreign students, we visited one of the most famous sights of XI'an – the Terracotta army. I was impressed of this sight, it was very interesting. Recently our University held a New Year's concert. It involved a lot of foreign students from 西北大学,西北工业大学and others. Folk dances of many countries and Chinese performances were presented there. I like take part in events because it give a opportunity to meet new interesting people. In my free time I like to walk around the city, visit Xi`an sights( Drum Tower, Bell Tower, Giant Wild Goose Pagoda, Shaanxi History Museum), parks, City wall, Muslim Quarter or find new interesting places. China is a country with the help of which I can realize my dreams. I sincrely thank Silk Road Chamber of International Commerce to give me such a wonderful opportunity. After four years of studying at the university, I believe that I am ready to take the next step toward my dream. By accomplishing this, I will show myself that I can achieve something significant in my life, I can be who I want to be. At this point I am looking to gain the required skills and relationships to grow as a professional; I know that China is the right place for me to accomplish this objective.
China's agricultural trade with B&R countries totaled 77 billion U.S. dollars in 2018
China's agricultural trade with B&R countries totaled 77 billion U.S. dollars in 2018
22 Jul 2019
China's agricultural trade with the Belt and Road (B&R) countries totaled 77 billion U.S. dollars in 2018, according to the Ministry of Agriculture and Rural Affairs Friday. China has launched more than 650 agricultural investment projects in B&R countries, with an investment of 9.44 billion dollars, up 70 percent compared with five years ago, said Ma Hongtao, an official with the ministry, at a press conference. These projects promoted the development of local industries such as grain, cash crops, animal husbandry and agricultural processing, Ma said. Chinese-funded agricultural enterprises have built public welfare facilities in the B&R countries, employing more than 100,000 workers in the regions. Ma said that the ministry has signed agricultural and fishery cooperation documents with more than 80 B&R countries. Trade from goods with B&R countries totaled 1.3 trillion dollars in 2018, up 16.3 percent year on year and outpacing the growth rate of the country's total foreign trade last year, according to the Ministry of Commerce. Source: Xinhua News Agency
VP at EU Chamber of Commerce in China upbeat about upcoming import expo
VP at EU Chamber of Commerce in China upbeat about upcoming import expo
19 Jul 2019
European companies pin high hopes on the second China International Import Expo (CIIE), especially on more concrete measures on opening the Chinese market, said Carlo D'Andrea, Vice President at the European Union Chamber of Commerce in China. "The first time I heard of the CIIE was in 2017, and I thought it would be an important moment for our chamber since CIIE is not an ordinary trade fair but China's contribution to the global free trade system," he said in an exclusive interview with Xinhua. Heads of state, government leaders and officials from 172 countries, regions and international organizations, as well as over 3,600 companies from around the world, attended last year's first CIIE, which impressed D'Andrea greatly. "Regarding the feedback from our members, participation was important, as companies had the chance to meet with Chinese consumers and find new partners," he said. The second CIIE, which is scheduled in early November this year, is set to be larger in scale and better in quality than last year. Given the fact that China was the second-largest partner for EU exports and the largest partner for EU imports in 2018, D'Andrea expects that more members would actively participate the CIIE this year, as they have seen tremendous business opportunities from China's ongoing consumption upgrade and stronger purchasing power. Apart from providing an opportunity for enterprises across the world to enter the huge Chinese market, D'Andrea said the CIIE has been regarded as a great moment to announce new measures of reform and opening-up. Major measures for a higher level of opening-up such as further lowering tariffs and streamlining customs clearance, consistently relaxing control over market access, cultivating a world-class business environment, establishing more pilot free trade zones and promoting multilateral and bilateral cooperation were announced during the first CIIE. "CIIE is a moment where all eyes of the world will be on China, and this could be a great moment to have important announcements followed by actions to show its willingness to open the market," he said. In terms of business cooperation, D'Andrea noted that China and European countries have much to offer to each other with a high degree of convergence of interests. "It is worth noticing that protectionism harms everyone. As one of the most important bilateral relations in the world, China and Europe should work together to offset the negative influence of protectionism and re-energize the world economy." Founded in 2000, the European Union Chamber of Commerce in China now has more than 1,600 members in nine Chinese cities. According to its newly released "China Business Confidence Survey 2019," European companies in China continue to see solid revenue growth, and 62 percent of respondents view China as a top-three destination for present and future investment. Source: Xinhua News Agency
ASEAN overtakes U.S. to become China's second-largest trading partner
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ASEAN overtakes U.S. to become China's second-largest trading partner
19 Jul 2019
Workers in a logistics park at the China-ASEAN free trade area. (Xinhua) The Association of Southeast Asian Nations (ASEAN) became China's second-largest trading partner in the first half of 2019, overtaking the U.S. for the first time since 1997. In the first half of this year, China's trade with ASEAN rose 10.5 percent to nearly 2 trillion yuan, accounting for 13.5 percent of the country's total trade volume, according to China's customs data. During the same period, China's trade with the U.S. dropped 9 percent to 1.8 trillion yuan, accounting for 12 percent of the country's total trade volume. In June, China's exports to the U.S. fell by 8 percent year-on-year, and imports from the U.S. slumped by 31 percent, customs data showed. The shift is underpinned by China-ASEAN strategic mutual trust, expanded interests from economic and trade cooperation, and shared aspirations for safeguarding multilateralism. Meanwhile, the Belt and Road Initiative (BRI) has become a new highlight of China-ASEAN economic cooperation. The ASEAN region has witnessed the most remarkable outcomes and potential in regards to BRI, Huang Xilian, Chinese Ambassador to ASEAN said at a seminar on ASEAN-BRI relations held in Jakarta, capital of Indonesia, on June 25. Source: People's Daily Online
AIIB offers local-currency funding to private sector
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AIIB offers local-currency funding to private sector
17 Jul 2019
The Asian Infrastructure Investment Bank (AIIB) will start this month to offer local-currency financing to private-sector clients from India, Indonesia, Thailand, Turkey and Russia, the lender disclosed in a statement sent to the Global Times on Wednesday. The AIIB's offer meets the financing needs of local companies at a time when they are feeling increasingly insecure about the US dollar, as the Trump administration often imposes financial sanctions on other countries, an expert said. The rollout of local-currency financing will begin this month, with other currencies to be added according to client needs and priorities, the China-proposed investment bank revealed in the email. "Offering financing alternatives in local currencies will help the AIIB's private-sector clients hedge against volatile foreign exchange markets ...When clients secure funding in their local currency, they are better equipped to manage and grow sustainable businesses, thereby becoming stronger credit for AIIB's loan portfolio," an AIIB senior press officer told the Global Times. AIIB President Jin Liqun said recently during the AIIB's fourth annual meeting that the bank's local-currency financing decision was born to meet the needs of emerging economies, thepaper.cn reported. The AIIB's local-currency financing offer comes at a time when many countries are feeling insecure about the US dollar, particularly as the Trump government often uses financial sanctions as a means of political punishment. In June, US Treasury Secretary Steven Mnuchin said the US government would launch measures to freeze billions of dollars in Iranian assets. "The Trump administration's trade protectionism and financial hegemony are damaging the greenback's international reputation, as countries are taking action to depeg their currencies from the US dollar," Zhou Yu, director of the Research Center of International Finance at the Shanghai Academy of Social Sciences, told the Global Times on Wednesday. "The AIIB's local-currency financing offer helps countries to shake off their dependence on the US dollar and avoid possible exchange rate risks - that's why the proposal is welcomed among local economies," he said. Of the five countries where the AIIB will offer local-currency financing soon, Russia and Turkey have already withdrawn from the list of major US government bond holders. In 2018, the value of the Turkish lira nosedived against the US dollar, causing alarm not only in the country but on global financial markets. In the fourth quarter of 2018, the US dollar's share of global foreign exchange reserves dropped to about 61 percent, the lowest since 2013, data from the International Monetary Fund showed. The US Fed's move to further cut interest rates would also weaken the US dollar's position as the dominant international currency, Zhou said. In comparison, the yuan had a share of about 1.9 percent of global foreign exchange reserves by the end of 2018. "There's still a long way to go for the yuan to challenge the US dollar's dominance, but the yuan is slowly gaining. In the future, there is room for the yuan to increase its internationalization level as China's economy stabilizes," Zhou commented. Source: Global Times
New China-Europe freight train route links Xi'an, Bishkek
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New China-Europe freight train route links Xi'an, Bishkek
17 Jul 2019
XI'AN, July 17 (Xinhua) -- A freight train left Xi'an, capital of northwest China's Shaanxi Province, heading for Bishkek, capital of Kyrgyzstan, on Tuesday, marking the opening of a new China-Europe freight train route. The train carried 50 containers of goods including mechanical equipment, industrial raw materials, clothing and shoes from the provinces of Shaanxi, Zhejiang and Jiangsu. It will leave China through the Horgos Pass in Xinjiang and pass Kazakhstan before reaching its destination. The whole trip will take seven days, compared to the previous 10 days when there was no direct freight train from Xi'an to Bishkek, said Yuan Xiaojun, general manager of Xi'an Free Trade Port Construction and Operation Co., Ltd. The new freight route will serve as a fast and efficient logistics corridor between China and Kyrgyzstan and will bring new opportunities for the two countries in various fields such as trade, culture and scientific and technological exchanges, said Sun Yimin, director of the administrative committee of Xi'an International Trade and Logistics Park. Xi'an, known in ancient times as Chang'an, is the starting point of the Silk Road and plays a key role in the Belt and Road Initiative. Xi'an launched its first China-Europe freight train on Nov. 28, 2013. The city launched 1,235 China-Europe freight trains in 2018, 6.4 times the number in 2017, transporting a total of 1.2 million tonnes of goods with a value of 1.72 billion U.S. dollars, according to local customs authorities. Source: Xinhua
Uzbekistan – China: Active Development of Bilateral Cooperation under the Framework of the Belt and Road
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Uzbekistan – China: Active Development of Bilateral Cooperation under the Framework of the Belt and Road
16 Jul 2019
Shukhrat Umirov, Press -attaché of the Embassy of the Republic of Uzbekistan in China In the past, the Great Silk Road was of great importance in relations between different countries and people, promoting the development of trade relations in the vast expanse of Eurasia. Moreover, there was an exchange of information, spread new products and crops through the Great Silk Road, there was mutual enrichment of different cultures and civilizations. The territory of modern Uzbekistan, its ancient cities such as Tashkent, Samarkand, Bukhara and Khiva were in the heart of the Great Silk road, acting as a bridge between the regions of Asia and Europe. Today, centuries later, the Belt and Road initiated by Chinese President XI Jinping is designed to revive this ancient silk road, contributing to the deepening of cooperation in the fields of trade and investment, transport communications and energy, infrastructure development and tourism. Thanks to the joint efforts of both sides, bilateral cooperation under the framework of the "Belt and Road" initiative has been developing actively in recent years. By the end of 2018, the trade turnover between our countries reached 6.4 billion dollars, increasing by 35%. Last year, during the SCO summit in Qingdao, 46 investment projects worth $ 6.86 billion were signed. Moreover, in 2018, the direct investment of Chinese companies in Uzbekistan exceeded $ 500 million. The basic principles of the Belt and Road initiative have very important conceptual significance, which also determines the success and efficiency of the projects implemented under this initiative. This is also proved by the results that China has achieved over the past five years. It is impossible to achieve such great results without "mutual consultation" and without considering the interests of all parties involved in the implementation of "Belt and Road" project. Naturally, these countries can only become long-term cooperative partners with common goals and tasks if they consult together and take into account the interests of all parties. It should be noted that the strategies of actions in five priority areas of development of the Republic of Uzbekistan from 2017 to 2021 have a lot of common with the Belt and Road. I would like to emphasize that today the relations between the Republic of Uzbekistan and the People's Republic of China have reached such a high level of comprehensive strategic partnership. There are several contributing factors. First, an open and trusting personal relationship has been developed between the two leaders. This is also a guarantee for further consolidation of the comprehensive strategic partnership between the two countries in the future. Second, Uzbekistan and China are neighbors linked by centuries of friendship and cooperation forged over thousands of years. Uzbekistan and China are now close strategic partners of cooperation. On the basis of the principle of equality, mutual respect and mutual benefit, Uzbekistan and China have resolutely deepened the multi-dimensional and long-term cooperative relations in an all-round way. Third, Uzbekistan and China have been actively cooperating under the SCO and the Belt and Road framework. Uzbekistan, a country on the great Silk Road in history, is an important partner of China under the framework of the Belt and Road Fourth, Uzbekistan and China share similar and consistent positions and approaches to resolving regional and international issues. Uzbekistan and China support each other on key security issues, especially in central Asia. Such high-level bilateral relations have laid a solid foundation for deepening bilateral cooperation in various fields, not only in the political and economic, but also in the people and culture exchange. In short, Uzbekistan and China have long-term and mutual interest in each other. This, no doubt, is an important guarantee for the successful cooperation between the two countries under the framework of the Belt and Road. It is believed that the implementation of this large-scale project, which now involves 60% of the world population, will promote the formation of a unified zone of peace, tranquility and prosperity, and strengthen the cooperation and friendship between countries and people.
The President of the European Council visits the new Port of Baku
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The President of the European Council visits the new Port of Baku
9 Jul 2019
Taleh Ziyadov, Director-General of Baku International Sea Trade Port has welcomed the President of the European Council Donald Tusk and said that the advanced IT system currently used at the port, by automating all operations, provides the cargo owner with the ability to monitor the cargo online, determine the location in the territory and gives other advantages. He noted that for fast and efficient loading and unloading, the time limit for loading onto ships and unloading of containers and dry cargo delivered by heavy trucks is set through the port’s operational information system. Thus, the processes are carried out in accordance with this schedule. This operating system, which works online, immediately informs the cargo owner about its delivery to and from the Port of Baku. The latest technological and engineering solutions used at the port make the complex the most modern and convenient cargo handling center in the region that meets international requirements, and also enhance its transit and transportation capabilities as an important transportation hub. During the visit to Port of Baku, Donald Tusk got acquainted with the infrastructure created there. Mustafayev said that the area of the port covers 400 hectares, there are 12 berths, the total length of which is 2,100 meters. The port has 2 berths for Ro-Ro type vessels, a universal dry cargo and container terminal consisting of 7 berths, 2 ferry berths, and a berth for service fleet vessels. The length of the berth for service fleet vessels is 155 meters, 11 ships can moor there at the same time. The annual transshipment capacity of the port is 15 million tons, including 100,000 containers. In general, after completion of all construction works, the port will be able to transship 25 million tons of cargo, including 500,000 containers, thanks to the 17 berths available. Baku International Sea Trade Port was previously located within the city. Taking into account the bid of the country to become one of the major commercial and transportation hubs in the region and facilitate regional transformation, the state decided to move it to a new location, 70 km south of the capital Baku, near a settlement called Alat, which is located at the strategic crossroads of the regional railroads and highways. The port in Alat is a transportation hub linking the west (Turkey & EU), south (Iran & India) and north (Russia). In addition, the port's location is linked to existing highways and railways, connecting the port to the inland regions of the country. In 2018, the total volume of cargo transportation at all terminals of the Port of Baku was about 3.8 million tons, of which 84.5 percent (3.2 million tons) accounted for transit cargo. Moreover, Director-General Taleh Ziyadov informed the guests about the joint projects implemented between the Port of Baku and the European Union since 2016. The ongoing projects include improving operational capabilities, preservation of the environment around the port, the “Green Port” project, waste management and disposal, study tours to the leading European ports, and application of international standards to the work of the new Port of Baku. Source: Port of Baku official website
July Star- The Federation of Bangladesh Chambers of Commerce & Industry
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July Star- The Federation of Bangladesh Chambers of Commerce & Industry
9 Jul 2019
Introduction The Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) was founded in 1973 and has its headquarters based in capital Dacca. As Bengalese representative body of the business community, FBCCI avails itself to act as a pivotal role in providing consultation and safeguarding the interests of the private sectors. FBCCI plays a key advisory role in the development of business, industrial and financial policies at the national level. Objectives To coordinate and promote the interests of its member bodies – Chambers of Commerce and Industry, Trade and Industrial Associations To foster trade and investment growth across industry, agriculture, tourism, human resources and communication sectors in Bangladesh To provide support and assistance to the private sectors through effective communication and consultation with the government To assist the Chambers of Commerce and Industry and Trade Associations in organizing Trade and Industrial Fairs at home and abroad Recent activities Seminar on Bangladesh- China (Dalian) Trade and Investment Promotion On July 1-3, 2019, the world-famous meeting- China Summer Davos Annual Meeting was held in Dalian city. Prime Minister of Bangladesh Sheikh Hasina attended the meeting, leading a delegation of 53 enterprises from FBCCI. On July 2, the Federation of Bangladesh Chambers of Commerce & Industry (FBCCI) and China Council for the Promotion of International Trade (CCPIT) Dalian Sub-Council jointly organized Seminar on Bangladesh-China (Dalian) Trade and Investment Promotion. FBCCI signed a memorandum of understanding with CCPIT-Dalian. Both sides unanimously promised to strengthen cooperation in promoting exchanges of economic and trade groups, supporting mutual exhibitions, and facilitating trade and investment facilitation, so as to achieve win-win cooperation and to build an efficient and convenient service platform. MOU signing between CCPIT-Dalian and FBCCI Afterwards, 53 enterprises from FBCCI and more than 150 enterprises in Dalian city were present at Business to Business Meeting. Nearly one-third of participants found their potential cooperative partners. FBCCI visits SRCIC Beijing Office On July 5, a delegation led by Mr. Md. Muntakim Ashraf, the Senior Vice President of FBCCI visited SRCIC Beijing Office. Mr. Wang Yan, the Deputy Secretary General of SRCIC received the delegation. Mr. Md. Muntakim Ashraf hoped that SRCIC would mobilize its abundant member resources and introduce more enterprises to invest in Bangladesh. Mr. Wang Yan expressed that SRCIC would provide its efforts on facilitating the economic growth of Bangladesh. FBCCI Senior Vice President Mr. Md. Muntakim Ashraf (R7) and SRCIC Deputy Secretary General Mr. Wang Yan (L6) Interactiveness As a founding member of SRCIC, FBCCI has been making great contribution to the development of SRCIC. As the vice Chairman of SRCIC, Mr. Md. Shafiul Islam, the Immediate Past President of FBCCI attended the 2017 Silk Road Business Summit in Xi’an city and the 2018 Silk Road Business Summit in Zhangjiajie city. As one of the SRCIC Executive Board Members, Mr. Md. Shafiul Islam attended the 6th and 8th SRCIC Executive Board Meetings, sharing his invaluable suggestions for the development of SRCIC. FBCCI Immediate Past President Mr. Md. Shafiul Islam attending the 8th SRCIC Executive Board Meeting (Back Row, R5)
Sheikh Fazle Fahim:BRI-related investments bring substantial benefits for Bangladesh
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Sheikh Fazle Fahim:BRI-related investments bring substantial benefits for Bangladesh
5 Jul 2019
Bangladesh's presence in the Belt and Road Initiative has considerably expanded since 2016, said Sheikh Fazle Fahim, president of the Federation of Bangladesh Chambers of Commerce and Industry. BRI-related projects in the South Asian country, which have reached a value of around $10 billion, are expected to create jobs, boost industrial development, contribute to gross domestic product growth, and make Bangladesh a more attractive destination for foreign investors, Fahim said in an exclusive interview with China Daily on Wednesday. "For Bangladesh, BRI-related investment is spread across multiple sectors which will contribute to Bangladesh's rapid GDP growth, including infrastructure, connectivity and shipping," he added. The $165 million Bangladesh Power System Upgrade and Expansion Project has benefited the country by helping provide electrical connections to more than 2.5 million rural people, significantly improving their lives, said Fahim. In addition to infrastructure and manufacturing projects, the official said there is also great potential in the information and communication technology sectors as well as those yet to be tapped under the initiative. "In the future, we could also focus on innovation-driven development with joint collaboration in the new generation of information technology such as artificial intelligence, big data, quantum information and biotechnology, in addition to the expansion of smart technologies including intelligent human computer interactions, industrial robots, smart factories and smart logistics," he said. Fahim spoke highly of the economic cooperation between Bangladesh and China and said he believes it would become wider and deeper in the future. China is Bangladesh's largest trading partner. Bangladesh has become China's second-largest trading partner in South Asia, with bilateral trade between the two countries having nearly quadrupled in the past 10 years to exceed $12 billion in the last fiscal year, the FBCCI said. Around 400 Chinese companies are operating in Bangladesh in power, textiles, weaving, leather, footwear, construction, engineering and non-banking financial institutions, with a net investment of $1.03 billion in 2018, Fahim explained, adding that the number is gradually rising. In addition, he said the cooperation between the two countries in finance and e-commerce is becoming increasingly active. A consortium consisting of the Shanghai Stock Exchange and Shenzhen Stock Exchange acquired 25 percent of the shares of the Dhaka Stock Exchange last year. Ant Finance has become the strategic partner to Bangladesh's biggest online payment company Bkash. And UnionPay International has cooperated with Mutual Trust Bank, a private commercial bank in Bangladesh, to jointly launch debit and credit cards with mobile payment services. "It is encouraging. However, there is more to be done," Fahim said. The official said that with China's further opening-up of its economy, the strongest sectors of Bangladesh such as leather, ICT and fast-moving consumer goods will have greater access to the huge Chinese market and this will boost the growth of Bangladeshi companies. In fields such as the telecommunication and digital economy, the presence of Chinese companies and businesses in Bangladesh would grow substantially. Fahim said the FBCCI will continue to play its role in helping Chinese investors in Bangladesh through policy advocacy and by providing services to make it easier to do business. Source: Chinadaily
The BelCCI Chairman takes part in the Belt & Road forum for Regional Cooperation and Development
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The BelCCI Chairman takes part in the Belt & Road forum for Regional Cooperation and Development
2 Jul 2019
The Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich took part in Belt & Road Forum for Regional Cooperation and Development hosted by the China-Belarus Industrial Park "Great Stone". The Forum has been organized by the Ministry of Economy of the Republic of Belarus and the Ministry of Commerce of the People's Republic of China. Co-organizers are the BelCCI, Great Stone Industrial Park Administration, the National Agency for Investment and Privatization, Industrial Park Development Company. Welcoming remarks at the Forum opening were made by Nikolai Snopkov, Deputy Head of the Administration of the President of the Republic of Belarus, Mr He Wei, Deputy Chairman of the All-China Committee of the People's Political Advisory Council of the People's Republic of China, Dmitry Krutoy, the Minister of Economy of the Republic of Belarus, Mr Qian Ke Min, Deputy Minister of Commerce of China, Maksim Ermolovich, the Minister of Finance of Belarus, Mattia Romani, Managing Director for Economy, Politics and Management of the European Bank of Reconstruction and Development. In total, the forum gathered about 500 participants from Austria, Belarus, Bulgaria, Great Britain, Germany, Israel, China, Latvia, Lithuania, the Netherlands, Poland, Russia, Slovakia, Turkey, Ukraine, Czech Republic, Estonia, and other countries. The key topic of the forum was Great Stone Industrial Park – Global Opportunities. It is the first large-scale event held in the park in continuation of the Belt and Road Forum for International Cooperation, which took place in Beijing in April 2019. The forum's program was rather extensive. The plenary session focused on participation of countries in the Belt and Road initiative. Four panel sessions were held to discuss innovative development and new technologies, transport and logistics systems, prospects of cooperation with financial institutions, and the development of the China-Belarus industrial park Great Stone as a smart ecocity. Source:BelCCI official website
MCCI Participates in the 11th Edition of the World Chambers Congress
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MCCI Participates in the 11th Edition of the World Chambers Congress
21 Jun 2019
The 11th World Chambers of Congress drew to end in Rio de Janeiro on Saturday 15th June 2019 following three days of engagement on key issues affecting chambers and their respective business communities. The MCCI, a member of SRCIC, represented by its President and Secretary General, Mr. Marday Venkatasamy and Mr. Barlen Pillay, respectively, attended the event. The event concluded with the following takeaways: 1. A sustainable future for all Chambers and business leaders were urged to join policymakers in the fight against climate change during our day three opening plenary on the Sustainable Developments Goals, by Mr. Luis Alfonso de Alba, United Nations Special Envoy for the 2019 Climate Action Summit 2. Skills for the future Rethinking education was also in the limelight with a focus on how chambers can play a leading role in developing a dynamic and effective global workforce. The consensus among panel participants was that with limited visibility on what the jobs of the future would be, development of skills for life-long learning such as problem-solving, collaboration, adaptation and creativity were essential. 3. Thinking beyond banks This last session featured inspirational startup case studies and examined how chambers can engage with next-generation entrepreneurs and companies. “As a company, we have a commitment to financial inclusion,” said Mastercard General Counsel Tim Murphy who said there was a role for ICC and chambers to bring business to the table to communicate private sector messages for creating appropriate regulation. 4. Chamber innovation celebrated Winners of the 2019 World Chambers Competition were announced during the Congress concluding Gala Dinner. Of 74 entries from 29 countries, 16 finalists were in Rio to present their initiatives to Congress delegates during dedicated workshops covering the three Competition categories: Best Education and Training Project, Best SME and Entrepreneurship Development Project and Best Unconventional Project. Find out who the winners were here. 5. #SeeYouInDubai! Hassan Al Hashemi, Chair of the World Chambers Congress organising committee of Dubai Chamber, presented a video giving a glimpse into what delegates of the 12th World Chambers Congress can expect in 2021. Source: MCCI official website
China-Sweden Business Council:3rd Belt&Road Business Forum for Development to be held in October
图片2_副本
China-Sweden Business Council:3rd Belt&Road Business Forum for Development to be held in October
3 Jun 2019
SRCIC member: China Sweden Business Council is arranging“3rd Belt&Road Business Forumfor Development”between 24th- 26thOctober 2019 in Stockholm, Sweden. The main purpose is to make sure that Chinese companies, agencies and investors seeking cooperation with their European counterparts meet together and with companies, agencies and delegations from Africa. African delegations and participants get the opportunity to meet verity of strong actors in different fields and industries. We sincerely invite enterprises to participate in this summit. If you are interested, please read the Background Information and Invitation Letter of the summit and fill in the Registration Formtoinfo@csbc.se.
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