The Yantai - RCEP High-level Dialogue on Economic and Trade Cooperation was held on June 20 during the third Qingdao Multinationals Summit in the coastal city of Qingdao in East China's Shandong province.

The activity was attended by a number of experts and representatives from multinational corporations, and they shared their views on Yantai's efforts to build it into a new highland of opening-up under the Regional Comprehensive Economic Partnership (RCEP) framework.

Japan's Sojitz has maintained good cooperation relations with Yantai over the years, and the city has achieved rapid development in areas such as clean energy, automobile manufacturing, and high-end machinery. The company is expected to expand cooperation with Yantai in these emerging industries, according to Toshiaki Miyabe, president of Sojitz (China).

"Yantai boasts strong traditional industries, and has achieved remarkable achievements in the development of emerging industries including new materials, new energy resources, high-end equipment, biomedicine, and smart manufacturing. The city should deepen cooperation with countries and regions in the Association of Southeast Asian Nations (ASEAN) to create broader market opportunities," said Chen Anli, vice-chairman of the Malaysia ASEAN - Economic and Trade Development Promotion Council.

The sound business environment of Yantai has been the main driver for attracting investment from RCEP countries and regions, according to representative of the Korea Trade - Investment Promotion Agency (Qingdao).

Yantai will grasp the historical opportunities presented by RCEP, and efforts will be made to deepen cooperation with RCEP members in its key industries, which include photoelectricity and industrial design, to boost two-way trade and investment.