UOB, CCPIT forge partnership to boost SEA trade

Both parties aim to strengthen supply chains, drive innovation, and promote sustainable development. 

UOB and CCPIT signed a memorandum of understanding (MOU) to boost trade and investment between China and Southeast Asia, marking CCPIT's sole collaboration with a Southeast Asian bank. 

CCPIT promotes trade and investment between China and foreign countries. The collaboration enables over 350,000 CCOIC member companies to access UOB's solutions and strategic partners, fostering support for UOB's regional clients in China. 

Both parties aim to strengthen supply chains, drive innovation, and promote sustainable development. 

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Wee Ee Cheong, UOB's CEO, highlighted the region's attractiveness for investment and UOB's role in supporting Chinese enterprises in ASEAN. 

The collaboration builds on the success of their partnership since 2012, contributing to an 81% increase in China's FDI into ASEAN from 2016 to 2022, according to a press statement by the bank.

UOB's FDI Advisory Unit, established in 2011, has facilitated over S$22b FDI into Southeast Asia from China since 2020, creating over 50,000 job opportunities. The MOU signing ceremony, attended by over 100 delegates, took place at UOB Plaza.