HKTDC: HK-Zhuhai-Macao Bridge to Boost Logistics and SCM Efficiency in Great Bay Area
24 Oct, 2018  |  Source:Xinhua  |  Hits:1253

 

BEIJING, Oct. 23 (Xinhua) -- The opening of Guangzhou-Shenzhen-Hong Kong Express Rail Link (XRL) and the Hong Kong-Zhuhai-Macao Bridge will significantly enhance the logistics efficiency and supply chain management in the Guangdong-Hong Kong-Macao Greater Bay Area, said Raymond Yip, Deputy Executive Director of Hong Kong Trade Development Council (HKTDC) on Monday.

According tothe World Trade Report 2018 released by the World Trade Organization (WTO), global trade is expected to grow by 1.8-2 percent annually between 2016 and 2030, with developing countries contributing 57 percent to global trade by 2030, increasing from the 46 percent in 2015.

Raymond Yip believed that emerging markets will be a major driving force for global trade growth, spurring further expansion of the region's logistics sector, which will create enormous opportunities for the logistics.

In addition, the Asian countries and regions are now pushing forward various trade agreements and regional development strategies, including the Hong Kong-ASEAN Free Trade Agreement signed last year, the Guangdong-Hong Kong-Macao Greater Bay Area development plan, and the China-Singapore Initiative on Strategic Connectivity.

Under the Belt and Road Initiative, many major infrastructure projects, including new road transport systems and port developments, have been kick-started, with a number of them already completed. Such projects foster the development of trade and logistics in Asia, driving better connectivity within the regional supply chain. (Edited by Wu Shuang, wushuang2018@xinhua.org)

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