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Graphics shows locations of China and Southeast Asian Nations (ASEAN). (Xinhua/Zhang Liyun)
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RMB-dominated transaction a trend in ASEAN-China FTA construction
BANGKOK, Dec. 28 (Xinhua) -- To realize the Renminbi (RMB)-dominated transaction and trade settlement has become an ever-stronger request in Thailand and the ASEAN area as the ASEAN-China Free Trade Area will fully come into force on January 1, 2010, said Wichai Kiatrengsuk, vice president of the Bangkok Bank and manager of the bank's Chinese Relations Department.
"As the robust development of Sino-Thai trade and investment, there has been an increasing stronger request among our clients that the trade be directly settled between the Chinese currency and Thai baht, without the involvement of U.S. dollars. Many clients from other Southeast Asian countries have made the similar appeal -- the RMB's direct settlement with their local currencies," said Wichai after a ceremony by the Bangkok Bank to mark the launch of Thailand's first credit card that adopts the standard of China Union Pay (CUP), the largest credit card provider in China. Full story
Indonesia forms joint team to deal with ASEAN-China FTA issues
JAKARTA, Dec. 28 (Xinhua) -- Indonesia's Chamber of Commerce and Industry and the association of businessmen have formed a joint team to deal with the issues of the ASEAN-China free trade agreement (ACFTA), the Indonesia Daily quoted an official as saying on Monday.
"The joint team is directly chaired by the Economy Coordinating Minister Hatta Rajasa, Deputy Economy Coordinating Minister Edy Putra, Deputy Minister of Trade Mahendra Siregar and concerned ministerial officials," Deputy Secretary General of the Indonesian Businessmen Association Franky Sibarani was quoted by the report as saying. Full story
Commerce leader: Malaysian businessmen to seek opportunities from China-ASEAN FTA
KUALA LUMPUR, Dec. 28 (Xinhua) -- Malaysia's Associated Chinese Chambers of Commerce and Industry (ACCCIM) will explore opportunities in China following the full implementation of the China-ASEAN Free Trade Agreement (FTA).
Its Executive Adviser Soong Siew Hoong told Xinhua here on Monday that Malaysian businessmen should actively carry out pragmatic actions to find rooms for future development and expansion, while strengthening the business ties with China. Full story
Chinese motorcycle company operating in Vietnam eyes opportunities in China-ASEAN FTA
HANOI, Dec. 25 (Xinhua) -- In a motorcycle shop on the Tay Son Street in Vietnamese capital city of Hanoi, two young attendants were busy introducing motorcycles with the logo of Chinese brand Lifan to customers.
The motorcycles sold in this shop were all produced in an industrial zone in Hung Yen province thirty kilometers away from Hanoi. Eyeing the market opportunities in Vietnam, Chinese motorcycle company Lifan established a production base in Hung Yenseven years ago. It has now grown into an industrial zone comprising of 11 factories making motorcycle parts and assembling motorcycles. Full story
Malaysian Tourism Ministry bears deep hope in China-ASEAN FTA
KUALA LUMPUR, Dec. 25 (Xinhua) -- The Malaysian Tourism Ministry firmly believes that the full implementation of the China-ASEAN Free Trade Agreement (FTA) will benefit friends from China and ASEAN.
Malaysian Tourism Minister Ng Yen Yen told Xinhua here recently that she bore great expectations of the future and prospects of the free trade area. Full story
Interview: China-ASEAN FTA to make regional trade leap
KUALA LUMPUR, Dec. 24 (Xinhua) -- The establishment of China-ASEAN Free Trade Area (FTA) is expected to help the bilateral trade between the two sides grow by leaps and bounds, a leading Malaysian businessman said here recently.
The FTA will also promote the economic integration in the region to go forward rapidly, said Yong Ah Pwi, President of Malaysia-China Chamber of Commerce, in an interview with Xinhua. Full story
ASEAN-China Free Trade Area benefits both sides
HUA HIN, Thailand, Oct. 24 (Xinhua) -- The ASEAN-China Free Trade Area (ACFTA) that takes effect early next year is well on track, with great potentials to produce huge benefits to both sides.
During the on-gong 15th ASEAN Summit and Related Summits, ASEAN leaders said Saturday that the effective implementation of the major milestone in FTA brings ASEAN closer to the ASEAN Economic Community where free flow of goods is one of its major objectives. Full story
ASEAN looks forward to realization of ASEAN-China Free Trade Area
HUA HIN, Thailand, Oct. 24 (Xinhua) -- The 15th Association of Southeast Asian Nations Summit issued a Chairman's Statement Saturday, saying the bloc looked forward to the realization of the ASEAN-China Free Trade Area (ACFTA) on January 1, 2010.
"The leaders were pleased to note the progress in the implementation of the ASEAN-China Trade in Goods Agreement and looked forward to the realization of the ASEAN-China Free Trade Area (ACFTA) on January 1, 2010 when ASEAN 6 and China eliminates tariffs on products in their Normal Track," said the Statement. Full story
