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Guangdong, NSW seek vibrant business opportunities at this forum

2021-Dec-3       Source: newsgd.com

In the first 10 months of 2021, the import and export volume between Guangdong and Australia reached 121.21 billion yuan, with an increase of 18.3% year-on-year, accounting for 9.7% of the total trade volume between China and Australia. It was announced on December 2 at the Trade & Investment Cooperation Sub-forum of the 28th NSW-Guangdong Joint Economic Meeting in Guangzhou.

In the first 10 months of 2021, the import and export volume between Guangdong and Australia reached 121.21 billion yuan, with an increase of 18.3% year-on-year, accounting for 9.7% of the total trade volume between China and Australia. It was announced on December 2 at the Trade & Investment Cooperation Sub-forum of the 28th NSW-Guangdong Joint Economic Meeting in Guangzhou.

"Guangdong is working with Hong Kong and Macao to promote the development of the Greater Bay Area (GBA), which will bring vast business opportunities to foreign investors including companies from NSW, Australia," said Li Jing, Director of Guangdong Economic and Trade Office in Southeast Asia (Kuala Lumpur), L2 Inspector of Department of Commerce of Guangdong.

According to the statistics, as of October this year, Guangdong has attracted a total of 1,418 direct investment projects from Australia, with an accumulated foreign investment of 890 million USD.

China is one of NSW's most significant offshore partners, with a diverse range of goods and services exchanged, said Stuart Ayres, Minister for Jobs, Investment, Tourism and Western Sydney and Minister for Trade and Industry on the 28th Guangdong-New South Wales (NSW) Joint Economic Meeting (JEM) on December 1.

"NSW is proud of the relationship we have with Guangdong Province. During the official plenary session of the JEM we witnessed the signing of several important commercial agreements, including between George Clinical and Link Health, and Nexport Automotive and BYD Auto Industry," said Stuart Ayres. "These agreements come with the help and support of both the NSW and Guangdong Governments, and the JEM is an important mechanism for achieving these great results. "

"Guangdong is leading China in the growth of cross border e-commerce, consistently ranking number one in China for both volumes and growth," said Kylie Bell, Acting Deputy Secretary of Investment NSW.

During the event, experts, government officials and business representatives from Guangdong and Australia had in-depth discussions both online and offline on topics including cross-border e-commerce challenges & opportunities and bilateral general trade issues.

"Guangdong is a typical traditional trade market, and the signing of RCEP will help the province to expand its market and establish more trade links," said Jiang Mengmin, Founder and CEO of Guangdong Cross-Border Bong Supply Chain Management Ltd. And new business models like cross-border e-commerce can increase Guangdong's trade volume with Southeast Asia.

If a large supply chain can be established to support the whole Guangdong province, then it can develop into a hub and provide greater opportunities for the development of cross-border e-commerce, Jiang added.

Alastair Symington, CEO of Blackmores Group, an Australian natural health company, feels optimistic about the development of the GBA due to the huge amount of consumers and GDP volume of the area.

The forum was hosted by the Department of Commerce of Guangdong Province and Investment NSW, and organized by Guangdong Cross-Border Bong Supply Chain Management Ltd. 


Author: Will

Editor: Wing, Nan, Jerry

Editor: 魏申

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