The formation of the ASEAN Community will be a significant driver ofthe economic integration process in Asia, Chinese Minister of ForeignAffairs Wang Yi said on March 28.
He made theremark at a session titled “ASEAN Community: A major milestone for Asianintegration” on March 28, part of Boao Forum for Asia (BFA) AnnualConference 2015 held from March 26 to 29 in Boao, China.
Wang stressed that China supports and believes that the ASEANCommunity will be formed by the end of this year based on the principlesof unity, equity and all-win, and it will uphold its key role indriving East Asia cooperation.
He noted that tradebetween China and the ASEAN hit 480 billion USD while two way investmentreached 120 billion USD last year, marking the fifth consecutive yearChina had been ASEAN’s biggest trading partner and the fourthconsecutive year the association had remained as China’s third largesttrade partner. .
The FM also cited figures showingthat 18 million people travel between China and ASEAN countries annuallywith over 1,000 flights between the two sides each week.
Besides, both sides look to step up the upgrading of the China – ASEANFree Trade Area and the negotiation of the Regional ComprehensiveEconomic Partnership (RCEP) in 2015 with a desire to push their tradevolume up to 1,000 billion USD in 2020, he said.
Also at the session, former Malaysian Prime Minister Abdullah Bin HajiAhmad Badawi stated that the ASEAN Community formation will transformthe region into the world’s fourth largest economy.
He said that the ASEAN has proposed to set up a pilot zone for trade andtransportation facilitation and a peacekeeping force to maintainstability in East Sea.-VNA
He made theremark at a session titled “ASEAN Community: A major milestone for Asianintegration” on March 28, part of Boao Forum for Asia (BFA) AnnualConference 2015 held from March 26 to 29 in Boao, China.
Wang stressed that China supports and believes that the ASEANCommunity will be formed by the end of this year based on the principlesof unity, equity and all-win, and it will uphold its key role indriving East Asia cooperation.
He noted that tradebetween China and the ASEAN hit 480 billion USD while two way investmentreached 120 billion USD last year, marking the fifth consecutive yearChina had been ASEAN’s biggest trading partner and the fourthconsecutive year the association had remained as China’s third largesttrade partner. .
The FM also cited figures showingthat 18 million people travel between China and ASEAN countries annuallywith over 1,000 flights between the two sides each week.
Besides, both sides look to step up the upgrading of the China – ASEANFree Trade Area and the negotiation of the Regional ComprehensiveEconomic Partnership (RCEP) in 2015 with a desire to push their tradevolume up to 1,000 billion USD in 2020, he said.
Also at the session, former Malaysian Prime Minister Abdullah Bin HajiAhmad Badawi stated that the ASEAN Community formation will transformthe region into the world’s fourth largest economy.
He said that the ASEAN has proposed to set up a pilot zone for trade andtransportation facilitation and a peacekeeping force to maintainstability in East Sea.-VNA
