Dalian, the host city of the upcoming Fifth Asia-Europe Economic Ministers' Meeting (ASEM-EMM), expects that the meeting will bring more foreign investment and business opportunities.

The high-level meeting is to be held from July 22-24. Top officials from 15 EU members and 10 Asian countries will discuss issues of common concern.

"Dalian should grasp the opportunities to boost economic and trade cooperation with Asian and European countries. The ASEM Economic Ministers' Meeting will improve Dalian’s international image and, accordingly, bring more foreign investment," said Xing Liangzhong, vice mayor of Dalian government.

The coastal city in northeast China’s Liaoning Province is well known for its annual clothing festival and beautiful scenery. Dalian is also an important port city and regional economic center in northern China. Dalian Economic& Technological Development Area (DDA), Dalian Bonded Zone and Export Processing Zone are all hotspots of foreign investment in China.

Currently, 21 world famous companies like GE, Hitachi, Hyundai, Wal-Mart, Nokia have invested in Dalian, and 24 overseas financial institutions have set up branches or representative offices there. Foreign investment from Asia and Europe accounts for 83 percent of its total, and trade between Dalian City and Asian, European countries exceeds 80 percent of the total volume.

The Fifth ASEM Economic Ministers' Meeting sets to boost Asia-Europe economic cooperation, promote a new round of WTO free trade talks and discuss the current stagnant world economy. Before the minister’s meeting, Dalian Export & Import Commodities Fair 2003 and Asia-Europe High Level Economic Forum were convened one after another.

Dalian Export & Import Commodities Fair 2003, which is one of the biggest trade fairs in China, opened on Monday. The fair, previously scheduled to be held in May, was postponed due to the SARS epidemic.

"The commodities fair is a perfect showcase for Dalian’s full-scale opening-up strategy, investment environment, economic development and urban construction," said Wang Yanhui, the deputy director of Dalian Foreign Trade and Economic Cooperation Bureau. Over 170 show rooms have been booked by Dalian’s enterprises, accounting for one-third of the total. On Tuesday's Asia-Europe High Level Economic Forum, two Chinese entrepreneurs, both from Liaoning Province, will deliver speeches.

"We will make full use of the Asia-Europe High Level Economic Forum to hear foreign investor’s opinions. We will also put forward some projects to invite investment during the period," Xing said.

Statistics show that Dalian has approved 8,632 foreign companies from 72 nations and regions, concerning total investment of US$13.1 billion since China adopted its reform and opening-up policy in the late 1970s.

"Through the forum and ministers' meeting, the foreign officials and enterprise representatives will get to know Dalian further. Foreign investment from Asia and Europe as well as the trade relation with these regions is certain to improve because of better understanding and closer contact," Xing said with confidence.

(China.org.cn by staff reporter Tang Fuchun July 22, 2003)