China, ASEAN to further strengthen trade,economic ties

Added On September 12, 2019

Economic ministers from the 10-member Association of Southeast Asian Nations (ASEAN)and China have agreed to strengthen trade and economic relations, and synergize the China-proposed Belt and Road Initiative with the Master Plan on ASEAN Connectivity.
The economic ministers met on Monday at the 18th ASEAN Economic Ministers(AEM)-China's Ministry of Commerce(MOFCOM) Consultations.
The meeting was co-chaired by Thai Deputy Prime Minister and Minister of Commerce Jurin Laksanawisit and Chinese Vice Minister of Commerce Wang Shouwen.
In a joint statement, the ministers reaffirmed ASEAN and China's strong commitment to strengthen the robust trade and economic relations between both sides.
The ministers particularly welcomed the increase in total merchandise trade between ASEAN and China.
The ministers also noted the progress of the ASEAN-China FTA or ACFTA implementation and the welcomed the entry into force of the Protocol to Amend the Framework Agreement on Comprehensive Economic Cooperation and Certain Agreements thereunder between ASEAN and China for all Parties.
The ministers welcomed the ACFTA Joint Committee's decision to commence discussions on the further liberalization of trade in goods at the ACFTA Joint Committee Meeting next year.
According to the statement, the ministers expressed appreciation for China's support in enhancing ASEAN connectivity and integration through the various projects in the areas of finance, transportation and infrastructure.
They welcomed and encouraged the continuous effort to synergize the Belt and Road Initiative with the Master Plan on ASEAN Connectivity to strengthen ASEAN Community building, as well as to create win-win cooperation through the utilization of local resources.