HUA HIN, Thailand, Oct. 24 (Xinhua) -- China will establish economic cooperation zones in ASEAN (the Association of Southeast Asian Nations) member states and encourage Chinese companies to invest there, said a statement issued here Saturday.

    "Both sides should also promote cooperation in the protection of intellectual property, removal of trade barriers and establishment of a consolidated system for sanitary and phytosanitary standards inspection," said the statement issued after ASEAN-China summit.

    China said it would also organize a forum on China-ASEAN FTA (Free Trade Area) to develop an FTA business portal.

    By 2010, tariffs on almost all goods traded between ASEAN and China would be eliminated.

    "This -- together with the recent signing of the ASEAN-China Investment Agreement -- serves as a milestone in ASEAN-China relations," said the statement.

    Bilateral trade had increased more than three folds over the past six years from 60 billion U.S. dollars to 192 billion U.S. dollars in 2008. 

Special report: Premier Wen Attends ASEAN- Related Meetings