ASEAN supports China's Belt & Road initiative

CNC
Added On November 24, 2015

Also on Sunday, ASEAN Secretary-General Le Luong Minh said they support China's "Belt and Road" initiative aimed at bringing greater connectivity and opportunities to the region.
 
Minh made the comment on the sidelines of the just concluded ASEAN Summit in Kuala Lumpur.
 
The Association of Southeast Asian Nations (ASEAN) supported China's "Belt and Road" initiative aimed at bringing greater connectivity and opportunities to the region.
 
ASEAN Secretary-General Le Luong Minh made the comment Sunday on the sidelines of the just concluded ASEAN Summit in Kuala Lumpur.
 
Minh said the initiative was in line with ASEAN's objective of increasing and enhancing connectivity not only among ASEAN countries, but also between ASEAN and dialogue partner countries, especially China.
 
When ASEAN and China celebrated 10 years of their strategic partnership two years ago, they had set targets, including two-way trade reaching a value of 500 billion U.S. dollars this year and 1 trillion U.S. dollars by 2020.
 
SOUNDBITE(ENGLISH): LE LUONG MINH, ASEAN Secretary-General 0101-0133
"Including the target of reaching the 500 billion dollars by 2015, and one trillion dollars by 2020, and up to 500 billion dollars of investment in 2020. By now, last year 2014, the two-way trade between ASEAN and china meet nearly 400 million dollars; there has be the major increase."
 
They had now agreed to focus on the development of ASEAN-China investment, trade and economic relations to reach those targets.
 
SOUNDBITE(ENGLISH): Le Luong Minh, ASEAN Secretary-General 0311-0337
"We have just finalized the new plan of action to implement the ASEAN-China partnership and this will be reflecting the interests and the determination and commitment of ASEAN and China in advancing our strategic partnership to new heights."
 
The two sides still had many opportunities for economic, trade and investment cooperation, with the establishment of the ASEAN Economic Community single market this year and the Regional Comprehensive Economic Partnership (RCEP) moving toward an agreement next year.
 
China and ASEAN have ambitious targets for further development of relations and cooperation in their strategic partnership, including the upgrading of the ASEAN-China Free Trade Area, and are committed to resolving differences.
 
SOUNDBITE(ENGLISH): LE LUONG MINH, ASEAN Secretary-General  0850-0916
"So ASEAN and China are committed to resolving the differences with a view to maintaining peace and stability in the region. We have agreed to accelerate the process of consultations toward an early conclusion to have a code of conduct (COC) in the South China Sea."
 
Responding to a question on the six-pronged proposal Chinese Premier Li Keqiang put forward at a meeting between China and ASEAN on Saturday, Le said the two sides had just finalized the new plan of action to implement their strategic partnership.
 
SOUNDBITE(ENGLISH): LE LUONG MINH, ASEAN Secretary-General 1008-1041
"So that will be building on the success and the progress we have achieved, and new measures to further enhance China-ASEAN relations and partnership that will include, you know, the enhancement of ASEAN-China economic trade and investment relations, the enhancement of ASEAN-China investment in all areas of political-security and social-cultural cooperation."