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Chinese Vice Premier Zeng Peiyan (C)
visits the Nanning International Exhibition Center prior to the opening of
the 4th China-ASEAN Expo in Nanning, capital of south China's Guangxi
Zhuang Autonomous Region, Oct. 28, 2008. The 4-day expo started here on
Sunday, attracting a large number of participants from China and ASEAN
countries. (Xinhua Photo)
Photo
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NANNING, Oct.28 (Xinhua) -- Bilateral trade and
economic ties between China and the Association of Southeast Asian Nations, or
ASEAN, has entered a new phase, with the establishment of the strategic
partnership between the two, Chinese Vice Premier Zeng Peiyan said on Sunday.
Trade between China and the ASEAN surpassed 160
billion U.S. dollars last year, 1.9 times the figure for 2002, which made the
two the 4th largest trading partners for each other, said Zeng at the opening of
the China-ASEAN Business and Investment Summit in the southern China city of
Nanning.
"Bilateral trade has kept a rapid growth momentum
since the beginning of this year and total trade is expected to reach 190
billion U.S. dollars," said Zeng, adding, "The preset target of 200 billion by
2010 is very likely to be fulfilled in 2008."
With two-way investment continuing to grow, ASEAN
countries had invested a total of 41.9 billion U.S. dollars in China by the end
of 2006. Meanwhile, said Zeng, more and more Chinese enterprises have made ASEAN
countries their major destinations of investment and ASEAN enterprises their
major partners for construction and technological cooperation.
Since the Trade in Goods Agreement between China and
the ASEAN took effect in July 2005, China's average tariff on ASEAN exports has
been reduced to 5.8 percent. Tariff on Chinese exports to ASEAN countries has
also been cut, Zeng noted.
China and the ASEAN also witnessed progress in the
negotiation for inking an investment agreement after the bilateral service trade
pact came into effect in July this year.
All this signals the two sides have made "a firm
step" to the establishment of the China-ASEAN Free Trade Area, the vice premier
said.
The two sides have also witnessed progress in
subregional cooperation and are intensifying cooperation along the Beibu Gulf
Rim, following the successful mode of the Greater Mekong Subregional
cooperation, said Zeng.
The Beibu Gulf economic belt is an area surrounded by
south China's Guangdong and Hainan provinces and Guangxi, as well as the six
ASEAN members of Singapore, Malaysia, Indonesia, the Philippines, Vietnam and
Brunei.
The 10-nation ASEAN also groups Thailand, Myanmar,
Cambodia and Laos.
China aims to establish free trade zone with Brunei,
Indonesia, Malaysia, the Philippines, Singapore and Thailand by 2010. Free trade
zones with Vietnam, Laos, Cambodia and Myanmar are expected to be in place by
2015.
