China and the Association of Southeast Asian Nations (ASEAN) have launched a cross-border Business-to-Business (B2B) platform to further strengthen trade ties.

Leaders from chambers of commerce and industry from ASEAN countries signed a memorandum of understanding on cooperation for a cross-border B2B platform with the China Council for the Promotion of International Trade (CCPIT), during the 12th China-ASEAN Business and Investment Summit in Nanning, Guangxi Zhuang autonomous region on Saturday.

The platform will provide information for enterprises from both sides, including trade matching, overseas financing, logistics, customs clearance, policy sharing and legal assistance.

Somyod Tangmeelarp, vice chairman of the Federation of Thai Industries, said: "The establishment of the China-ASEAN cross-border B2B platform is an example of concerted efforts to encourage trade and investment engagement with the member countries of ASEAN and China in order to create more business connections for this region

"It is hoped this platform would facilitate the innovative development of the bilateral economic and trade cooperation and further strengthen the links of trade between China and ASEAN in the years to come".

Zaw Min Win, chairman of the Myanmar Industries Association, said bilateral trade between Myanmar and China has tripled in the past 10 years, and China ranks first in Myanmar's border trade with volume reaching $3.199 billion this year, followed by Thailand.

He added that in order to further expand the cross-border B2B market, the governments of China and ASEAN countries are encouraged to come up with favorable polices and frameworks. Meanwhile, the associations of commerce and industry in the region should strengthen communication about economy, trade, finance, investment, marketing and technology.

Founded in 1967, ASEAN groups Indonesia, Malaysia, Singapore, Myanmar, the Philippines, Vietnam, Laos, Thailand, Brunei and Cambodia.

According to CCPIT, the launch of the cross-border e-commerce platform will enrich an upgraded version of the China-ASEAN Free Trade Area, promote the diversified and innovative development of economic and trade cooperation and strengthen trade ties.

At the 11th China-ASEAN Business and Investment Summit last year, government officials, representatives from commerce associations and scholars from China and ASEAN countries suggested establishing a diversified cross-border e-commerce platform to promote the healthy development of small- and medium-sized enterprises and strengthen cooperation.