Chinese Ambassador attends Estonian Asia Forum

On 18 April, the Estonian Ministry of Foreign Affairs and the Chamber of Commerce and industry co-organized a Asia forum. Chinese Ambassador Li Chao was invited to the event and deliver a speech. More than 100 representatives from Estonia's ICT, audio, electronic bicycles, log house enterprises took part in the forum.

In his opening remarks, Ambassador Li gave an overview of the historical achievements made by China in the past 40 years of reform and opening up, and noted that Chinese government had doubled its effort in reform and opening-up to be adapted to the"new normal"over the past 5 years. As a result, the structure of Chinese economy has seen major transformation. "With the share of the service sector rising from 45% to 52% of the economy, consumption's contribution to growth has increased from 54% to 59%, becoming the main driver of growth. Our investment in R&D has grown at an average annual rate of 11%, ranking second in the world in scale. In high-speed rail, e-commerce, mobile payments and sharing economy, we are leading the world ", said the Ambassador. He also committed that China will adhere to its basic national policy of reform and opening-up, share opportunities of its development, join hands with everyone to forge a global community for a shared future.

The Ambassador was satisfied with the trade and investment cooperation between China and Estonia in recent years and said the Belt and Road Initiative, which Estonia officially joined last year, as well as the signed two MOUs on e-commerce and digital cooperation provided new opportunities for businesses of both countries. He hoped Estonian business communities would understand China in the new era, seize the opportunities offered by an open China. "We are pleased to welcome everyone aboard the fast train of China's development", he said.

Undersecretary of Economic and Development Affairs of the Ministry of Foreign Affairs of Estonia Mr. Väino Reinart said in his address that given the fact that trade between Estonia and Asia accounts for only 5% of Estonia's foreign trade, huge potentials are to be expected in the future. He suggested Estonian entrepreneurs establish closer ties with Asia as their neighboring Nordic countries do, including standing ready to actively participate in China's Belt and Road Initiative.

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