Approximately 300 diplomats, government officials, and corporate representatives from 10 ASEAN (Association of Southeast Asian Nations) member countries convened at the Qianhai International Convention Center on Nov. 13 to explore business opportunities and potential partnerships with Chinese counterparts at the 2024 ASEAN-China GBA Economic Cooperation (Qianhai) Forum.
Themed “Technological Leadership, Industrial Synergy,” the forum focused on exploring new development opportunities and addressing business challenges through economic and trade cooperation between the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and ASEAN countries.
Lee Kian-yan, president of Malaysian firm Smuzcity Berhad, announced that they had finalized a cooperation deal with Qianhai for a cross-border e-commerce industrial park project. He highlighted Qianhai’s strategic geographical location as an ideal base for establishing partnerships with Chinese companies.
Lee, who flew in from Malaysia on Nov. 12 for the forum, expressed his hopes for increased collaboration to help companies expand globally, saying, “We are also eager to see more firms from Shenzhen and other GBA cities venture into the Malaysian market and [beyond] through Malaysia.”
While the forum served as an effective platform for ASEAN businesses seeking partnerships in the GBA, it also benefited Chinese companies aiming to expand internationally. Bai Xue, executive head of the Shenzhen Industry-University-Research Institute Collaboration Association, highlighted new initiatives from industrial associations, along with government incentives and industrial policies from various ASEAN countries. These were introduced in five parallel subforums that covered topics such as cross-border e-commerce and digital transformation.
Anita Kuang, executive secretary-general of the GBA Importers and Exporters Association, revealed plans to establish cross-border e-commerce bases in select ASEAN markets to facilitate greater entry of GBA enterprises.
During an interview on the sidelines of the main forum, Kuang said, “We aim to stimulate the growth of GBA industries in ASEAN by applying new models, such as nurturing local live-stream talent, within the ASEAN markets.”
Around 800 Chinese enterprises participated in the ASEAN-GBA industrial cooperation and networking reception last night. Bai noted that over 1,400 domestic companies had registered for the event, which was designed to foster economic and technological cooperation projects. A signing ceremony for these projects was held during the reception.
Launched in 2023, the forum facilitated the signing of industrial cooperation projects totaling 12.1 billion yuan (US$1.68 billion) last year.