South Asia Business Environment Report 2023/2024 released, focusing on development opportunities in China and South Asia
2024-07-24
The 17th China South Asia Business Forum was held in Kunming on the 23rd. The Research Institute of the China Council for the Promotion of International Trade released the "South Asia Business Environment Report 2023/2024" (hereinafter referred to as the "Report"), which comprehensively and systematically analyzes the latest characteristics and trends of the business environment in South Asian countries, and promotes economic and trade cooperation between China and South Asian countries. On July 23rd, at the 17th China South Asia Business Forum. Photo by Chen Jing, a reporter from China News Service. South Asia is one of the most economically dynamic and densely populated regions in the world. In recent years, China has extensively cooperated with South Asian countries in areas such as economy, trade, science and technology, infrastructure, and cultural exchanges. In 2023, the trade volume between China and South Asian countries will approach 200 billion US dollars, doubling from 2013. The report points out that China and India have complementary advantages in technology industry cooperation. On the one hand, China is accelerating the development of advanced manufacturing and information industries, with related technologies constantly maturing and product competitiveness continuously improving. At the same time, the Indian government is vigorously promoting economic development strategies such as "Made in India" and "Digital India", which have received positive responses from Chinese technology companies. In addition, both China and India are developing countries with the largest population in the world, high demand for energy markets, and broad prospects for cooperation in the energy sector. In analyzing the latest trends in China Bangladesh economic and trade cooperation, the report points out that China's direct investment in Bangladesh is showing a rapid growth trend, and there is great potential for industrial cooperation between China and Bangladesh. The industrial output value of Bangladesh accounts for the highest proportion of the national economy among South Asian countries, and its abundant and low-cost labor resources have become its advantage in industrial development. In the future, China Economic Industrial Park will become an important platform for industrial cooperation between China and Bangladesh. In terms of economic and trade cooperation between China and Pakistan, the report states that cooperation in the agricultural sector has development potential. In 2023, the trade volume of agricultural products between China and Pakistan was 1.095 billion US dollars, of which 791 million US dollars were imported from Pakistan, accounting for 23% of China's total imports from Pakistan. In a joint press statement in November 2023, China and Pakistan pointed out that agricultural cooperation between the two countries has great potential, and projects such as crop breeding and pest control under the framework of the China Pakistan Economic Corridor have made good progress. In terms of attracting foreign investment in key industries in South Asian countries, the report states that India's key industries for attracting foreign investment are information technology, agriculture and related industries, and pharmaceuticals. Bangladesh's textile and clothing industry, information technology industry, and pharmaceutical industry. Pakistan is engaged in the food processing industry, textile and clothing industry, logistics industry, software industry, and engineering product industry. Sri Lanka is involved in the textile and clothing industry, as well as the pharmaceutical and medical equipment industry. Nepal has agriculture, energy, and transportation industries. Zhao Ping, President of the Research Institute of the China Council for the Promotion of International Trade, introduced that the report, which took 7 months to write, comprehensively and systematically analyzed the latest characteristics and trends of the business environment in South Asian countries for the first time. From the perspective of the business community, it provided reasonable suggestions for South Asian countries to continuously optimize their business environment, helping enterprises better grasp the opportunities in the South Asian market. (New Society)
Edit：NingChangRun Responsible editor：LiaoXin
Source：China News Service Website
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