Pan-Beibu Gulf declaration on ASEAN's East-West Corridor

The 6th Pan-Beibu Gulf Economic Cooperation Forum (PBGEC Forum) concluded in Nanning, capital city of south west China's Guangxi Zhuang Autonomous Region, with the Declaration of Pan-Beibu Gulf Think Tank Summit released at its closing ceremony.

"The Declaration states that at the current stage and in the foreseeable future, the world economy is and will still be faced with many uncertainties. Regional cooperation and integration will become the major driving force for regional growth that will rely more on the region itself but less on the outside world or on globalisation. Financial cooperation is an important support for regional cooperation," China Economic Daily reported.

According to the Declaration, the Nanning-Singapore Economic Corridor (NSEC) is the on-land extension of the Pan-Beibu Gulf marine co-operation. Its section in ASEAN will "forcefully contribute" to the connectivity in ASEAN and effectively link the East-West Corridor in ASEAN, playing an import role in ASEAN integration and having great significance to promote the regional economic development alongside and improving people's well-being.

The Declaration urged construction of the NSEC be accelerated from three aspects: transportation infrastructure construction; industrial investment and logistics cooperation; and cross-border cooperation.

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