‘China market fall ominous’ – JETRO
View(s):The first-ever Asian trade promotion deliberations to take place in Colombo opened on Tuesday with the inputs of 40 Asian export CEOs-and JAPAN JETRO’s CEO Hiroyuki Ishige in attendance, a media release issued by the Industry and Commerce Ministry, stated.
“The world economy is shaken badly after yesterday’s Chinese stock exchange fall. Even under this situation we should be committed to make trade and investment stable,” declared the visiting Chairman and CEO-JETRO JAPAN, Hiroyuki Ishige on August 25 at the meeting.
Mr. Ishige was addressing the start of first technical sessions of the 28th CEO meeting of the Asian Trade Promotion Forum (ATPF) in Colombo. He was addressing 40 visiting Asian trade promotion leaders and officials at Taj Samudra Hotel, it was stated.
China’s stock market has lost 40 per cent from its June high and international news services reported that the benchmark Shanghai Composite Index was continuing to fall, losing over 20 per cent in the last four days.Analysts believe that the reason for the fall is due to investors continuously playing the market based on borrowings, the release stated.
“Located at a key junction of trade between East and West, Sri Lanka has prospered as a place where merchants have come and gone since old times,” he said adding: “Since the founding of ATPF 40 years ago, we have seen significant change in the business environment of the Asia Pacific and it was expected of us to conduct our work from an even larger platform which includes promotion of investment in addition to trade.”
The 28th CEO meeting of the ATPF held in Colombo, also the first ATPF session to take place in Sri Lanka, began on the eve of August 24 at Taj Samudra Hotel, Colombo. More than 40 Asian trade promotion CEOs, top officials from 19 Asian countries as well as reps from Geneva’s International Trade Centre took part in the sessions pioneered by EDB in partnership with HSBC.