Enhancing regional connectivity, advancing economic integration high on agenda of ASEAN Summits

Enhancing regional infrastructure connectivity and advancing economic integration are high on the agenda of the 44th and 45th ASEAN Summits and Related Summits running from Oct 8 to 11 in Vientiane, the capital of Laos.

Under the theme "ASEAN: Enhancing Connectivity and Resilience," the summits, gathering around 2,000 delegates and approximately 1,000 journalists, feature more than 20 meetings. Discussions will focus on enhancing regional infrastructure connectivity, narrowing the development gap, advancing economic integration, and promoting people-to-people exchanges to strengthen relations between ASEAN member countries and other nations while addressing current opportunities and challenges.

The meetings will be attended by heads of state and government from ASEAN member countries, dialogue partner countries and external partner countries, as well as representatives of regional and international organizations.

Economic and trade exchanges between China and ASEAN have become increasingly closer over the past years, with China remaining as ASEAN's largest trading partner for 15 years since 2009. The latest statistics from China's General Administration of Customs show that ASEAN has been China's largest trading partner in the first eight months of 2024, with a 10 percent year-on-year increase in the volume of imports and exports from China to ASEAN.

Participants said that promoting the high-quality development of the Belt and Road Initiative, strengthening cooperation in various sectors under the Regional Comprehensive Economic Partnership, and advancing negotiations on a new round of upgrades for the China-ASEAN Free Trade Area will create new opportunities for the integration of regional economies.

"With this regional integration, with logistics and the Belt and Road Initiative, we can bring ASEAN to be the center point as a hub or center for the big company to open their headquarters or manufacturing hub in ASEAN or Laos. Apart from that it also provides opportunities for technology transfer and human resource development, because integrating with the advanced economies like China, Japan, South Korea, Australia and others will help the local economy learn from the advanced technologies," said Thanongsinh Kanlaya, executive vice chairman of the Lao National Chamber of Commerce and Industry.

"Advancing regional integration could help reduce costs and taxes, which has allowed us to mobilize the entire industrial chain in Laos and the surrounding countries," said Wu Xinghua, executive vice chairman of the Lao-Chinese Chamber of Commerce.

Enhancing regional connectivity, advancing economic integration high on agenda of ASEAN Summits

Enhancing regional connectivity, advancing economic integration high on agenda of ASEAN Summits

Macao has been emerging as a global hub for conventions and exhibitions in recent years by exploring the enormous opportunities in the sector, driving the region to advance its economic diversification and embrace a brighter future.

Macao has received many awards this year, such as the Best Convention City (Asia) and the Best BT-MICE City, showcasing the recognition for and influence of Macao's exhibition industry.

More than 1,000 electronic game enthusiasts from all over the world gathered recently in Macao to participate in a esports themed event.

Su Zhili, organizer of the event, said that Macao's rich experience in hosting large-scale events, coupled with its good infrastructure, has driven him to choose the region as an ideal destination to hold such an activity.

"Macao has held many similar large-scale events. It has rich experience, and the facilities at the venue are relatively mature, so we can start our work comfortably," said Su.

During the first three quarters of 2024, Macao held more than 1,000 conferences and exhibitions in total.

"We will invite more professional, special conferences to be held in Macao and also cultivate more exhibition brands with international influence in Macao, so as to promote Macao's exhibitions to be more market-oriented, professional, international, digital and greener from various aspects. This is our goal," said Elaine Wong, member of the Macao Commerce and Investment Promotion Institute.

In addition, multiple large exhibitions and conferences, such as the Macao International Trade and Investment fair, the Macao Franchise Expo, and the International Infrastructure Investment and Construction Forum, are held regularly in Macao.

With the introduction of a series of policies and measures to facilitate the exchanges between the mainland and Macao, as well as the construction and development of the Guangdong-Hong Kong-Macao Greater Bay Area and the Guangdong-Macao In-Depth Cooperation Zone in Hengqin, Macao's convention and exhibition industry will embrace more opportunities for development in the foreseeable future.

"We have such a good industrial base in the Greater Bay Area. The mode of 'Convention and Exhibition + Industry' not only integrates the industries of Macao, but also the industries of the Greater Bay Area. In addition, Macao actively integrates into the national development and plays a role in the Belt and Road. Why are we so confident in Macao's convention and exhibition sector? Because it is backed by the motherland, and the country gives Macao great support," said Alan Ho, chairman of the Macao Association of Convention, Exhibition and Tourism Sectors.

Macao emerges as global hub for conventions and exhibitions, driving economic diversification and international recognition