Wen makes ASEAN a priority
Source: Xinhua |
October 22, 2011, Saturday
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Print Edition
Print Edition
CHINESE Premier Wen Jiabao yesterday said China will continue to expand imports from the Association of Southeast Asian Nations and enhance the two sides' economic and trade cooperation.
In a keynote speech at the 8th China-ASEAN Business and Investment Summit in Nanning City, Wen said: "China is ready to continue expanding imports of competitive products from ASEAN countries and find proper solutions to problems in the development of the China--ASEAN Free Trade Area (CAFTA)."
He said China and ASEAN will build the China-ASEAN Plaza in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, to serve as a logistics base and an exhibition and marketing platform.
Wen said he hoped ASEAN companies would use that platform to win a bigger share of the Chinese market.
Trade between China and ASEAN surged 37.5 percent on an annual basis to US$292.8 billion last year, when the free trade area was established.
China's imports from ASEAN, mostly mechanical and electrical products, soared 44.8 percent from a year earlier in 2010, while exports to ASEAN rose 30.1 percent, bringing China's trade deficit with ASEAN to more than 30 times the previous year.
Wen said: "The CAFTA has increased rather than decreased the international competitiveness of ASEAN, and ASEAN's capacity to export to China has become stronger rather than weaker."
The CAFTA was launched in January last year, when the average tariff on goods from ASEAN countries to China was cut to 0.1 percent, while the six original ASEAN members - Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand - slashed the average tariff on Chinese goods from 12.8 percent to 0.6 percent.
Wen pledged to create better conditions for the free flow of commodities, capital and information in the China-ASEAN region. He also noted that the Chinese government encourages mutual investment by enterprises in China and ASEAN, and has promised to build an economic cooperation zone in each ASEAN member country.
China's direct investment in ASEAN countries has grown rapidly to US$13.5 billion. Direct investment by ASEAN countries in China has totaled US$67.3 billion.
In a keynote speech at the 8th China-ASEAN Business and Investment Summit in Nanning City, Wen said: "China is ready to continue expanding imports of competitive products from ASEAN countries and find proper solutions to problems in the development of the China--ASEAN Free Trade Area (CAFTA)."
He said China and ASEAN will build the China-ASEAN Plaza in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, to serve as a logistics base and an exhibition and marketing platform.
Wen said he hoped ASEAN companies would use that platform to win a bigger share of the Chinese market.
Trade between China and ASEAN surged 37.5 percent on an annual basis to US$292.8 billion last year, when the free trade area was established.
China's imports from ASEAN, mostly mechanical and electrical products, soared 44.8 percent from a year earlier in 2010, while exports to ASEAN rose 30.1 percent, bringing China's trade deficit with ASEAN to more than 30 times the previous year.
Wen said: "The CAFTA has increased rather than decreased the international competitiveness of ASEAN, and ASEAN's capacity to export to China has become stronger rather than weaker."
The CAFTA was launched in January last year, when the average tariff on goods from ASEAN countries to China was cut to 0.1 percent, while the six original ASEAN members - Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand - slashed the average tariff on Chinese goods from 12.8 percent to 0.6 percent.
Wen pledged to create better conditions for the free flow of commodities, capital and information in the China-ASEAN region. He also noted that the Chinese government encourages mutual investment by enterprises in China and ASEAN, and has promised to build an economic cooperation zone in each ASEAN member country.
China's direct investment in ASEAN countries has grown rapidly to US$13.5 billion. Direct investment by ASEAN countries in China has totaled US$67.3 billion.
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