Guangzhou held a seminar on industrial investment negotiation with the Republic of Korea (ROK) on May 19 by lecturing enterprises about related issues in the Regional Comprehensive Economic Partnership (RCEP) and providing one-on-one consultation service between local and Korean enterprises.
Organized by CCPIT Guangzhou Committee and Korea Trade Investment Promotion Agency (KOTRA), this is the first industrial investment negotiation seminar between Guangzhou and ROK since the RCEP took effect on January 1st this year.
Yang Yong, President of CCPIT Guangzhou Committee, said that Guangzhou’s enormous market demand and growth advantages will give continuous impetus for South Korean enterprise development here. Additionally, Guangzhou and ROK could be complementary to each other on new energy vehicle, artificial intelligence, high-end equipment, biomedicine, modern service and other industries.
Yang illustrated that CCPIT Guangzhou Committee will learn from the experience of issuing certificates of origin in January this year and proactively carry out the CCPIT Guangzhou Committee Action Plan for Promoting RCEP High-quality Implementation in Practice, in order to improve service for enterprises and lead them to seize the market opportunities among RCEP countries. “Guangzhou is advancing the establishment of a modernized industry system and improving the level of opening-up economy. We will work together with KOTRA to provide platforms for trade and investment between Guangzhou and Republic of Korea and jointly usher in a brighter future,” said Yang.
Han Jea Heuk, Consul-General of the Republic of Korea in Guangzhou, believed that RCEP is beneficial for establishing a multilateral trading system, facilitating international supply chains and the global economic recovery.
According to the seminar, the total value of trading between Guangzhou and the Republic of Korea from January to April this year is 19.48 billion RMB, an increase of 0.8%. The Republic of Korea has become the 4th largest trade partner of Guangzhou. During January to April this year, there were 48 new Republic of Korea enterprises having investment in Guangzhou and the total number has now reached 1,454.
Editor 丨Wing, Steven, Abby, Jerry