Home > News>Significant News

Tag: Two Countries Twin Parks

China, Indonesia Hold First “Two Countries Twin Parks” Joint Working Committee Meeting

On the morning of March 23, Vice Minister of Commerce Zhang Xiangchen, Deputy Governor of Fujian Guo Ningning and Indonesian Deputy Minister Ayodhia G. L. Kalake of the Coordinating Ministry of Maritime Affairs and Investment co-hosted the first meeting of the China-Indonesia “Two Countries Twin Parks” Joint Working Committee. The two sides announced the launching of the committee’s mechanism, discussed the development of the “Two Countries Twin Park” program, and reached extensive consensus.

Zhang Xiangchen noted that “Two Countries Twin Parks” represents a solid step in synergizing China’s Belt and Road Initiative and Indonesia’s Vision for the Global Maritime Fulcrum, as well as an innovative approach to deeper economic and trade ties at the favorable juncture of the upgrading of the China-ASEAN Free Trade Zone and the signing of the Regional Comprehensive Economic Partnership (RCEP) Agreement. “China is moving fast to foster a new development paradigm with domestic circulation as the mainstay and domestic and international circulations reinforcing each other. China’s expanding domestic market will drive its own development while creating immense opportunities for its trading partners. Against this backdrop, ‘Two Countries Twin Parks’, a timely cooperation program with bright prospects, will strengthen bilateral cooperation in industrial and supply chains, boost trade and investment cooperation, and deliver benefit both sides,” Zhang said.

Deputy Governor Guo Ningning and Deputy Minister Ayodhia G. L. Kalake also spoke at the meeting.

At the meeting, both sides agreed to improve the working architecture of the joint working committee and advance park development in a coordinated manner. The two sides will formulate park master plans that propose sound structures of leading industries, so as to underpin high-quality park development at a high starting point. Both sides will work proactively to attract and select international investment in an open and inclusive manner. Promotion efforts will be enhanced to increase the awareness and influence of “Two Countries Twin Parks”, including online and offline global investment promotion events in due time by the end of this year, so as to make “Two Countries Twin Parks” a new platform to deepen China-Indonesia trade and economic cooperation and promote regional economic recovery post-pandemic.

In January 2021, MOFCOM, Fujian Province and Indonesian Coordinating Ministry of Maritime Affairs and Investment signed the Memorandum of Understanding on Two Countries Two Parks Cooperation Project, in which all sides agree to advance “Two Countries Twin Parks” cooperation based on equality and mutual benefit. China designated Yuanhong Investment Zone in Fuqing, Fuzhou, Fujian Province as the Chinese park, and Indonesia, under a “one park, multiple estates” scheme, selected Bintan Industrial Estate, Aviarna Industrial Estate and Batang Industrial Estate collectively as the Indonesian park.

(All information published on this website is authentic in Chinese. English is provided for reference only.)