Shanghai Daily (PRC)
CHINA and Southeast Asian countries agreed yesterday to cut barriers to trade in telecommunications, transport, tourism and other services as a key step toward creating the world's most-populous free-trade zone.
Chinese Premier Wen Jiabao told the 10-member Association of Southeast Asian Nations that the agreement on services "signifies that the development of a China-ASEAN free-trade zone has taken a crucial step forward."
The participants expect the services pact, signed at a regional summit in Cebu in the central Philippines, to trigger increased levels of trade and investment after its implementation in July.
China and ASEAN aim to have the foundation of a full free-trade area laid by 2010, with China, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand hoping to drop tariffs on most products by then.
China and the remaining ASEAN members - Cambodia, Laos, Myanmar and Vietnam - will target that goal five years later.
Under the deal signed yesterday, service providers in the region will enjoy improved market access.
The agreement is also expected to bring higher levels of investment in the region, particularly in construction, engineering, energy, travel, transport, education, telecommunications, culture and sports.
"Successive rounds of market access negotiations to substantially improve the level of commitments and broaden the sector coverage of the agreement will be undertaken over the next year," said a statement issued by the signatories.
Wen hailed the agreement as another achievement in China-ASEAN economic cooperation.
On November 4, 2002, then-Premier Zhu Rongji and ASEAN nation leaders signed a framework agreement that began the process of setting up a China-ASEAN free-trade zone.
In 2005, a trade agreement reduced tariffs on more than 7,000 ASEAN and Chinese products. Since then, trade between China and ASEAN countries has maintained steady growth, Wen said. Two-way trade reached US$160.8 billion last year, up 23.4 percent over the previous year.
Wen proposed that China and ASEAN nations should speed up talks on investment agreements and complete the China-ASEAN free-trade agreement as planned.
"I hope this will bring the China-ASEAN win-win cooperation and common development to a higher level," Wen said.
China proposed to strengthen cooperation between customs and inspection and quarantine authorities of the nations involved.
China also offered to host the first meeting of the China-ASEAN Ministerial Consultation on Quality Supervision, Inspection and Quarantine this year, the Chinese premier said.
Chinese Premier Wen Jiabao told the 10-member Association of Southeast Asian Nations that the agreement on services "signifies that the development of a China-ASEAN free-trade zone has taken a crucial step forward."
The participants expect the services pact, signed at a regional summit in Cebu in the central Philippines, to trigger increased levels of trade and investment after its implementation in July.
China and ASEAN aim to have the foundation of a full free-trade area laid by 2010, with China, Brunei, Indonesia, Malaysia, the Philippines, Singapore and Thailand hoping to drop tariffs on most products by then.
China and the remaining ASEAN members - Cambodia, Laos, Myanmar and Vietnam - will target that goal five years later.
Under the deal signed yesterday, service providers in the region will enjoy improved market access.
The agreement is also expected to bring higher levels of investment in the region, particularly in construction, engineering, energy, travel, transport, education, telecommunications, culture and sports.
"Successive rounds of market access negotiations to substantially improve the level of commitments and broaden the sector coverage of the agreement will be undertaken over the next year," said a statement issued by the signatories.
Wen hailed the agreement as another achievement in China-ASEAN economic cooperation.
On November 4, 2002, then-Premier Zhu Rongji and ASEAN nation leaders signed a framework agreement that began the process of setting up a China-ASEAN free-trade zone.
In 2005, a trade agreement reduced tariffs on more than 7,000 ASEAN and Chinese products. Since then, trade between China and ASEAN countries has maintained steady growth, Wen said. Two-way trade reached US$160.8 billion last year, up 23.4 percent over the previous year.
Wen proposed that China and ASEAN nations should speed up talks on investment agreements and complete the China-ASEAN free-trade agreement as planned.
"I hope this will bring the China-ASEAN win-win cooperation and common development to a higher level," Wen said.
China proposed to strengthen cooperation between customs and inspection and quarantine authorities of the nations involved.
China also offered to host the first meeting of the China-ASEAN Ministerial Consultation on Quality Supervision, Inspection and Quarantine this year, the Chinese premier said.
4 comments:
Good job on a productive summit. Hopefully, in the long run, the trade zone will benefit all of East Asia.
I just don't see any advantage for Cambodia beside inviting the Vietcong and the Thaicong to take over Cambodia economically and militarily!!!!
No problem, just get in your rat's
hole when the time come, and no one
will find you.
hmm.. ah 1:52PM sounds like ah bat psar mork pi srok yuon.
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