On 15 June at the annual FTA Conference, Unleash Opportunity, FTA and the China Federation of Industrial Economics (CFIE) formally announced a Memorandum of Understanding (MoU) with the agreement to enhance liaison services and cooperation between their respective organisations support an open trade environment and sustainable global supply chains.
Through this MoU, FTA will deepen the association’s influence in building sustainable global supply chains via CFIE’s network in which provides support to social, economic and environmental sustainable development to 2.3 million members companies. Moreover, FTA will work with the CFIE to promote a common code to eliminate non-added value auditing costs; avoid proliferations of auditing standards; reduce duplication of auditing efforts and promote continuous improvement in global supply chain and drive sustainable trade.
FTA is the first global organisation invited to join the Belt & Road Industrial & Commercial Alliance (BRICA), a platform which brings international cooperation to a new level and drives information inter-connectivity, industrial investment and trade cooperation across the Belt and Road countries.
CFIE is one of China’s largest national industrial federations comprise of 150 national industrial and commercial associations and 400 major state-owned companies and joint ventures. It covers iron & steel, machinery, electronics, petrochemical, building materials, textile, light industry, aviation and aerospace, energy and transportation.
BRICA is an initiative championed by CFIE under the Belt and Road Initiative, a development strategy proposed by Chinese President Xi Jinping, promoting connectivity and cooperation between Eurasian countries.
Contact: Joyce Chau, FTA Representative Greater China