China, ASEAN promote business cooperation for development

The 4th China-ASEAN Young Entrepreneurs (CAYE) Forum was held here on Friday to promote business cooperation and information exchange, uphold excellent entrepreneurs and seek partnership, among related member countries. Participants discussed issues relating to the CAYE's plan of actions in 2012 towards the goals of promoting the activities in depth and for practical benefits of the regional young businessmen and further expansion of all-sided cooperation between ASEAN member countries and China. China is one of Vietnam's most important trade partners. The ASEAN member countries also have close ties with Vietnam. The forum held in Vietnam is seen as an active move to help Vietnamese business men integrate into the world economy, addressed Vietnamese Deputy Minister of Industry and Trade Tran Quoc Khanh. Chen Yongdong, vice chairman of the China-ASEAN young entrepreneurs' association and representative of the Chinese delegation, said the forum would contribute to boosting economic development among the regional countries. Since the establishment of the China-ASEAN free trade area, trade turnover of the bloc reached 190 billion U.S. dollars in 2010, up 35 percent year-on-year. The bloc's economic potential is huge, so China pledged to continue supporting efforts in expanding the bloc's activities as well as the business environment of the member countries that would provide China more opportunities to further integrate into the regional economy, Chen said. CAYE forum is annually held and hosted rotationally by member countries, and this year by the Vietnam Young Entrepreneurs' Association.