The theme of the meeting is China and ASEAN -- New Opportunities for Co-operation. Ambassadors and business representatives from ASEAN, and high-level officials from China, are meeting with entrepreneurs from across the region.

    Recent years have seen rapid development in bilateral economic cooperation.

    ASEAN exports to China increased on average by over 46 percent a year to reach 52.4 billion US dollars in 2005.

    China now mainly imports electronic products, crude and liquefied petroleum, and vegetable oil from ASEAN members. ASEAN members import electronics, machinery, textiles, garments, processed oil and cereals from China.

    Xu Ningning, director of China-ASEAN business council said, "Bilateral trade is fueled by the booming economic development of both sides. It's propelled by concrete actions, and promoted by good political ties. The establishment of a free trade area, which is going to be completed in 2010, will drive the co-operation one step forward."

(Source: CCTV.com)

    The China-ASEAN Free Trade Area, or FTA, is a huge market, with 1.85 billion consumers and a combined gross domestic product of almost 2 and a half trillion US dollars.

    A study by the ASEAN secretariat estimates the F-T-A will raise ASEAN exports to China by 48 percent and China's exports to ASEAN by 55 percent.

    China is the bloc's third largest trading partner, and ASEAN, China's fifth largest. Observers believe there's a lot more room for continued cooperation.

    Abu Bakar Yusof, commercial counselor embassy of Malaysia said, "China's economy and Asean's is very complementary."

    Delegates at the conference in Beijing say the broadening and deepening of economic relationships between China and ASEAN members will continue to yield plenty of opportunities for all involved.

    (Source: CCTV.com)