ASEAN ndash; CHINAthe New Economic Partnership.ppt

ASEAN – CHINAthe New Economic Partnership Mr. Zhou Hongli Minister Counsellor Embassy of People’s Republic of China February 18, 2004 Main Topics: Economic cooperation between China and ASEAN ASEAN-China Free Trade Area (ACFTA) China ASEAN Expo China and ASEAN: Close Neighbors China’s foreign policy: 1. To build friendly relationship and partnership with neighbors (与邻为善,以邻为伴); 2. To build amicable, tranquil and prosperous neighborhood (睦邻，安邻，富邻） Friendly co-operative relations serves the fundamental interests of our peoples and the stability and development of the region. China-ASEAN Comprehensive Economic Cooperation Bilateral Trade: ASEAN remains China’s the 5th largest trading partner in the past 10 years. Two-way investments, and contracting projects and labor service have increased tremendously. Close cooperation in international and regional economic arena: WTO, APEC, ASEM, ASEAN+3, ASEAN-China FTA, etc. Characters of Bilateral Trade Grew fast: 20% annual increase since 1990; Share in China’s total trade rose: from 5.9% in 1990 to 9.2% in 2003; Trade balance: in favor of ASEAN countries (US$16.4 billion in 2003) China’s largest trading partner in ASEAN: Malaysia overtook Singapore since 2002. Fast Trade Growth b/n China and ASEAN Trade Target China and ASEAN leaders agreed: the trade between China and ASEAN shall reach US$100 billion in 2005. Achievable: need only 13% annual growth in the next two years. ASEAN Total Investment to China(by the end of 2003) Total projects: 22075 Share in China’s total: 4.75% Total contractual amount: US$64.59 billion Share: 6.84% Total paid-up investment: US$32.37 billion Share: 6.46% Shares of Chinese Investment in ASEAN against in Asia and the World Process of Establishing ACFTA At the 4th ASEAN+China (10+1) Summit in Singapore in November 2000, leaders of ASEAN and China agreed to explore the possibility of establishing a free trade area (FTA). The ASEAN and China Expert Group on Econ