Sept. 9 – The Greater Tumen Initiative (GTI) Northeast Asia Economic Cooperation Forum and Local Development Forum was held on Sept. 2 in the northern Chinese city of Changchun, bringing together the GTI member countries of China, South Korea, Mongolia and Russia with top business leaders and senior non-governmental representatives to meet and discuss developmental issues.

The latest regional economic developments were highlighted in brief presentations by Deputy Minister Tuvden of the Ministry of Finance of Mongolia, Deputy Director General Qiu of the Department of Foreign Investment Administration in China, Trade Representative Tsyplakov from the Russian Embassy in Beijing, and Director General Yoon from the Korea Business Center. Suggestions for regional development included accelerating international infrastructure construction, such as highways and railways, and reducing unfavorable trade policies.

The critical role of local tourism was highlighted as experts from the national tourism agencies of member countries, as well as highly-esteemed academics, evaluated the strengths of regional tourism, touching on the unique landscapes and historical landmarks. It was clear from these presentations that the area’s potential is vast, though existing policies and a lack of general awareness has stymied real growth in the local tourism industry.

The Local Development Forum paid special attention to trans-border cooperation in the Greater Tumen Region. In discussing the promotion of the GTI community as a whole, government and non-government representatives from all member countries took turns proposing numerous methods and actions which should be taken to cultivate deeper regional relationships.

The forum was held in conjunction with the 6th Northeast Asia Investment and Trade Expo, a global exhibition featuring the latest technology and regional products of China, Japan, North Korea, South Korea, Mongolia and Russia.

The Greater Tumen Initiative is a joint mechanism of four member countries, China, Mongolia, South Korea and Russia. Currently supported by the United Nations Development Program and other donors, the GTI seeks to promote economic growth, improve living standards, and ultimately contribute to the peace and stability in the Northeast Asian region.

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To learn more about the current business environment in Changchun, please download the China Briefing Business Guide to Northeast China.