China-ASEAN free trade area to be completed on schedule
updatetime:2010-04-01 18:04:37
Views:0
Source:xinhuanet
The China-ASEAN (Association of Southeast Asian Nations) Free Trade Area would be completely operative in 2010 as scheduled, a senior official from the Ministry of Commerce said Thursday.
NANNING, Aug. 6 (Xinhua) -- The China-ASEAN (Association of Southeast Asian Nations) Free Trade Area would be completely operative in 2010 as scheduled, a senior official from the Ministry of Commerce said Thursday.
"The free trade zone will cover a population of 1.9 billion and involve about 6 trillion U.S. dollars in gross domestic product," Lu Kejian, director of the ministry's Department of Asian Affairs, said at the opening of the fourth Pan Beibu Gulf Economic Cooperation Forum in Nanning, capital of Guangxi Zhuang Autonomous Region in southern China.
The free trade area project was first brought up in 2002,and completion set down for next year.
Ma Biao, chairman of the Guangxi regional government, said at the two-day forum that the free trade area would be the world's largest by population.
Du Ying, vice minister of the National Development and Reform Commission, said strengthening economic cooperation in the Pan-Beibu Gulf region would boost its economic growth and competitive edge.
He called for greater efforts to increase mutual investment, improve transportation links and step up cooperation in petrochemical, steel and electronics sectors.
ASEAN is China's fourth largest trade partner after the European Union, the United States and Japan. In 2008, bilateral trade between China and ASEAN totaled 231.1 billion U.S. dollars, up 14 percent from 2007.
But the first half of this year witnessed a 24 percent drop from the first half of 2008 to 88.1 billion U.S. dollars because of the global economic downturn.
In April this year, the Chinese government proposed a fund of 10 billion U.S. dollars and a loan of 15 billion U.S. dollars to build infrastructure in the region over the next three to five years.
Recommend
Popular Videos
Hot comments
- First apes at U.S. zoo receive COVID-19 vaccine made for animals, zoo official says
- China Life: Chinese women shine with She Power
- Foreign firms approved to offer VPN services in capital
- Homemade curling videos trending in China
- 86-year-old grandma in Hebei spends most her life on traditional cheongsam
- Winners of 2022 Inaugural WLA Prize announced
- Lantern Festival: A romantic celebration in China
- Two Chinese COVID-19 vaccine firms to supply vaccines to COVAX
- Media center for 20th CPC national congress to open on Oct. 12
- Six suspects arrested in HK for role in SE Asia job scam
Top Reviews
- Young artists recreate beauty of traditional Hanfu costume
- China releases photos of tallest tree
- English version of ‘Understanding Xi Jinping’s Educational Philosophy’ published
- China crowned in men’s team for 10th straight time at table tennis worlds
- China publishes Atlas of Wildlife in SW China
- Guangxi’s 10 Years: A Visit to China’s Qinzhou Port
- Congress delegate helped lift village out of poverty
- Expo highlights joint efforts in NEV development
- Racism stain of shame on ‘world democratic paradise’
- U.S. may face new COVID wave this upcoming winter: report