2017 CLAC Expo in Zhuhai: China-Latin America Cooperation Bringing New Opportunities for CLAC Businesses

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ZHUHAI, China, Nov. 8, 2017 /PRNewswire/ -- The 2017 China-Latin America and the Caribbean (CLAC) International Exposition will be held at the Zhuhai International Convention and Exhibition Center, China from November 9 to 11, 2017. The statistics from its organizing committee show that up to 524 companies from 61 countries and regions have confirmed to join the Expo, and nearly half of them are from Latin America and the Caribbean (LAC). The city has striven to deepen cooperation with LAC countries in all respects in a move to develop into a staunch opener for these businesses to show presence in Asia, China in particular. Hosting the Expo marks one of its important steps. On top of that, it has adopted policies to support the LAC companies and built the China-Latin America Economic and Trade Cooperation Park.

Zhuhai, the coastal city in southern China neighbouring Hong Kong and Macao, is among the regions that make greater efforts to promote opening up and enjoy more preferential policies than any other places. With its institutional advantages, prime traffic location and favorable business environment, the city is taking the lead to build a bridge for future CLAC cooperation.

It is known that Hengqin New Area of Zhuhai rolled out a package of policies in favor of the LAC companies this October. The policy support ranges from enhanced investment and trade facilitation to fiscal appropriation. Due to these supportive policies, it takes only six hours for a start-up to complete its business registration and the qualified company will enjoy a corporation tax rate reduction of 15 per cent.

As the latest platform for Zhuhai to achieve CLAC win-win cooperation, the Expo will give priorities to increase economic and trade cooperation by hosting relevant events in the industries of business, investment, finance, culture, sports and tourism. The opening ceremony of the Expo will witness the launch of the first phase of the China-Latin America Economic and Trade Cooperation Park, which covers an area of 35 thousand square meters and locates in Hengqin New Area.

With a planning area of 244 thousand square meters, the park has received an investment of about 2.5 billion yuan. It is designed to meet the need of the LAC businesses to spot the investment and finance resources in China. That, therefore, will entail a wider circle of entrepreneurs and broader business connections. It is said that the park has signed strategic cooperation agreements with ten institutions and companies, Mexican Chamber of Commerce in China included.

The Expo signals a new attempt to deepen understanding and cooperation between the two sides as the CLAC cooperation rises to a higher level. It also generates an opportunity for the LAC companies to expand their market in China. For now, the Expo has seen 56 signed projects in the fields of printer supplies, modern logistics, petrochemical engineering and home appliances, bringing the total contract value to 3.25 billion yuan. These project partners are from both the LAC countries such as Brazil and Mexico and the countries along the Belt and Road including Thailand and Vietnam.

SOURCE The Organizing Committee of China-Latin America and the Caribbean International Exposition