NANNING, China, Oct 29, 2006 (AFP) - Chinese and Southeast Asian leaders will underline their commitment to creating a giant free trade zone by 2010 at a summit here, according to a draft statement seen here Sunday.
China's premier Wen Jiabao and all 10 leaders of the Association of Southeast Asian Nations (Asean) are to meet Monday to commemorate 15 years of dialogue relations and affirm ties for the future.
According to the draft of a joint statement, the leaders will signal their willingness to create the China-Asean Free Trade Area, which will have a combined population of nearly two billion and a gross domestic product of over two trillion dollars.
"We are determined the establish the China-Asean Free Trade Area by 2010 as scheduled," says the draft copy obtained by AFP.
Countries will "work expeditiously towards agreements to progressively liberalise trade in services with substantial sectoral coverage and to promote investments," it says.
The area will include liberalised trade in goods by 2010 for Asean's six more developed nations of Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand, and by 2015 for Cambodia, Laos, Myanmar and Vietnam, it says.
Under deals included in a framework agreement on economic partnership inked in 2002, China and Asean have seen freer trade in goods and tariff reductions since July last year.
Talks on trade in services and investment are ongoing, and Asean officials say the parties are trying to finish negotiations on the first tranche of services to be liberalised by the end of 2006.
"The envisioned China-Asean Free Trade Area is crystallising," say the leaders.
In the draft, the leaders hail ties over the past 15 years, during which time the two sides signed a non-aggression pact and agreed to keep tensions in check over the disputed Spratly Islands in the South China Sea.
The China-Asean partnership "has not only vigorously boosted their own development and brought tangible benefits to the people, but also contributed significantly to peace, stability and prosperity in the region and the world at large," says the statement.
Leaders will also reaffirm their commitment to creating an East Asian common market as a "long-term goal", and carrying out plans to strengthen political, security, and socio-cultural cooperation.
China's premier Wen Jiabao and all 10 leaders of the Association of Southeast Asian Nations (Asean) are to meet Monday to commemorate 15 years of dialogue relations and affirm ties for the future.
According to the draft of a joint statement, the leaders will signal their willingness to create the China-Asean Free Trade Area, which will have a combined population of nearly two billion and a gross domestic product of over two trillion dollars.
"We are determined the establish the China-Asean Free Trade Area by 2010 as scheduled," says the draft copy obtained by AFP.
Countries will "work expeditiously towards agreements to progressively liberalise trade in services with substantial sectoral coverage and to promote investments," it says.
The area will include liberalised trade in goods by 2010 for Asean's six more developed nations of Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand, and by 2015 for Cambodia, Laos, Myanmar and Vietnam, it says.
Under deals included in a framework agreement on economic partnership inked in 2002, China and Asean have seen freer trade in goods and tariff reductions since July last year.
Talks on trade in services and investment are ongoing, and Asean officials say the parties are trying to finish negotiations on the first tranche of services to be liberalised by the end of 2006.
"The envisioned China-Asean Free Trade Area is crystallising," say the leaders.
In the draft, the leaders hail ties over the past 15 years, during which time the two sides signed a non-aggression pact and agreed to keep tensions in check over the disputed Spratly Islands in the South China Sea.
The China-Asean partnership "has not only vigorously boosted their own development and brought tangible benefits to the people, but also contributed significantly to peace, stability and prosperity in the region and the world at large," says the statement.
Leaders will also reaffirm their commitment to creating an East Asian common market as a "long-term goal", and carrying out plans to strengthen political, security, and socio-cultural cooperation.
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