(Yicai) June 11 -- Guangdong plans to further strengthen cross-border cooperation with the Association of Southeast Asian Nations, the Chinese province’s largest trading partner, to drive two-way trade and investment growth, Yicai learned at a conference to promote trade and supply chain collaboration between the pair.

In terms of transborder e-commerce cooperation, the two regions enjoy clear advantages in industrial synergy and digital empowerment, effectively driving the deep integration of “Guangdong manufacturing” with “ASEAN demand” and injecting strong momentum into the regional economy, Cui Shuang, vice president of the Guangdong committee of the China Council for the Promotion of International Trade, said at the conference yesterday.

ASEAN has been Guangdong’s largest trading partner for five consecutive years, Cui noted. Guangdong-ASEAN trade rose 8 percent to CNY1.5 trillion (USD208.8 billion) last year from 2023, accounting for a fifth of China’s foreign trade with the regional bloc.

The pair will hopefully strengthen policy exchange, create an efficient and convenient regional supply chain environment, and promote the coordinated upgrading of key supply chains and further deepen platform cooperation, Pov Somnang, special assistant to the secretary-general of ASEAN and president of the ASEAN Economic and Trade Promotion Association, told the conference.

Going forward, Guangdong and Thailand can deepen cooperation in five areas, according to Li Wenli, president of the Thai Chamber of Commerce in China. They are supply-chain synergy to boost efficiency; smart upgrades to logistics systems; optimized bilateral tax collaboration mechanisms; joint talent and culture promotion; and strengthened, standardized cross-border payments.

Cambodia welcomes enterprises from Guangdong to build production bases in the country and invest in agricultural processing, electronics assembly, garment manufacturing, logistics, and other areas, said Swinali, a deputy secretary of state at Cambodia’s commerce ministry.

Also at the conference, the CCPIT Guangdong inked memoranda of understanding with business organizations from ASEAN member countries, and the Guangdong-ASEAN enterprise service platform was launched, aimed at helping Chinese firms expand in ASEAN countries and vice versa.

Moreover, seven projects were signed, including an Indonesian coal mine investment deal between Guangdong Import and Export and China Qinfa Group, as well as a USD3.1 billion tie-up between Guangdong Provincial Tourism Holdings and New Hua Sheng 2022.

Additionally at the conference, Guangdong’s first five overseas trade and investment service centers were set up in Cambodia, Malaysia, Singapore, Indonesia, and Vietnam.

Editor: Futura Costaglione