China and ASEAN agreed to start negotiations on an upgraded version of the FTA
WASHINGTON 13th China - ASEAN Economic Ministers Meeting recently issued a joint press release announced that China and ASEAN agreed to start China - ASEAN FTA negotiations upgraded version.
Recently, the 13th China - ASEAN Economic Ministers' Meeting will be held in Myanmar Naypyidaw. Chinese Minister of Commerce Gao said in his speech, 2014 is China - ASEAN strategic partnership to build a second start in 10 years, with China - ASEAN Free Trade Area continues to accelerate the process of economic and trade cooperation between China and ASEAN has become a major highlight of the overall relationship between the ASEAN - China.
According to Gao introduction, China - ASEAN bilateral trade steady growth in 2013, bilateral trade volume reached 443.6 billion U.S. dollars, an increase of 11%, ASEAN has three consecutive years to become China's third largest trading partner and fourth largest export market and second largest source of imports. According to ASEAN statistics, China had four consecutive years of ASEAN's largest trading partner. From January to July, China - ASEAN steady growth of bilateral trade volume reached more than 2600 billion dollars.
Gao said China is willing to expand mutually beneficial cooperation with ASEAN, and put forward four proposals for cooperation: working together to build a 21st century maritime Silk Road, to further enhance the level of both trade and investment facilitation, accelerate the interconnection infrastructure, strengthening regional economic integration of cooperation.
According to a joint press release revealed that ministers agreed that China - ASEAN Free Trade Area to upgrade is China - ASEAN strong evidence of a constructive relationship, which is conducive to deepening the economic interests of both sides through mutually beneficial way.
China - ASEAN Free Trade Area January 1, 2010 announced the formal establishment of a total of about $ 6 trillion economy, trade amounted to $ 4.5 trillion, is the world's largest free trade zone composed by developing countries. China in 2013 proposed to build China - ASEAN Free Trade Area upgrade. (Zhang Yunfei)