2016 ASEACC Annual General Meeting in Shanghaiby Cheng Wai Yee
- January 24, 2017
- Posted by: admin
- Category: Events
On 22 August 2016, the leadership and members of the Africa South East Asia Chamber of Commerce (ASEACC) convened at Shanghai for its Annual General Meeting (AGM). Supported by Pacific International Lines (PIL), the event was co-chaired by Mr. S.S. Teo, Managing Director of PIL Group, and Mr. Jean Kacou Diagou, CEO of Groupe NSIA.
Mobilising the private sector across three emerging regions
Against the backdrop of rising Africa-Asia trade and commerce, anchored by economic ties between China and Africa, the 2016 AGM coupled with its sideline networking events and site visits, proved to be a milestone meeting between invited private sector firms from Africa, Southeast Asia, and China. ASEACC also took the opportunity to welcome its newest member, CrimsonLogic – a private company that builds and designs e-government solutions for governments around the world.
Urbanisation and special economic zones
The visit to Shanghai also included a visit to the Singapore-Suzhou Industrial Park, a flagship bilateral project between Singapore and China. Through the sustained efforts of both governments to implement a successful policy framework for industrial development in the 80km2 industrial township, the delegates were able to see how Suzhou Industrial had phenomenally transformed from mere farmland to first world city over 20 years.
By marrying the developmental experience of China and Singapore with the African continent’s resources and growing population, similar township development successes could be emulated in Africa.
Besides industrial townships, Singaporean developer Yanlord hosted ASEACC to visits at its iconic real estate developments in Shanghai. The delegates were able to appreciate the latest trends in construction workmanship and design in China.
Deepening Afro-Asian financial ties
Additionally, ASEACC delegates met with two key players in the financial sector in China — the New Development Bank and the Industrial and Commercial Bank of China (ICBC). The former is a multilateral bank founded by Brazil, Russia, India, China and South Africa while the latter is world’s largest bank by assets and market capitalisation.
About China-Singapore Suzhou Industrial Park
The China-Singapore Suzhou Industrial Park (SIP) was launched in 1994 by the two governments to develop a model industrial township in Suzhou, China. The Chinese government was keen to emulate Singapore’s industrial development and public administration practices, while Singapore looked to expanding foreign investment. Currently the Singapore–China cooperation zone occupies an area of 80km2 with residential, commercial, recreational and educational facilities.
About New Development Bank (NDB)
Formerly knowned as the BRICS Development Bank, the New Development Bank was established in 2012 by the BRICS nations (Brazil, Russia, India, China and South Africa). The NDB aims to support “infrastructure and sustainable development projects in BRICS and other emerging economies and developing countries”.
About Yanlord Land Group Limited
Real estate developer Yanlord Lang Group Limited is a Singapore-listed company that develops “high-end residential, commercial and integrated property projects” in key expanding cities, including an eco-township in Nanjing.
About Industrial and Commercial Bank of China Ltd. (ICBC)
Founded in 1984, the multinational Industrial and Commercial Bank of China (ICBC) is the world’s largest bank in terms of total assets and capitalisation. In 2015, ICBC was ranked first in The Banker’s Top 1000 World Banks list and US Magazine’s Global 2000.