NANNING: The China-ASEAN Expo can help the two sides grasp opportunities and advance co-operation in trade, investment and tourism, said Premier Wen Jiabao.

Addressing the opening ceremony of the annual event, Wen said China and ASEAN countries have strengthened economic ties since the start of their relationship 15 years ago. The two-way trade volume reached US$130 billion last year. ASEAN countries have invested a total of US$40 billion in China, in anticipation of the accelerated establishment of a China-ASEAN free trade area.

Philippine President Gloria Macapagal Arroyo (L), Chinese Premier Wen Jiabao (C), and Singaporean Prime Minister Lee Hsien Loong attend the opening ceremony of the third China-ASEAN Exposition in Nanning, capital of southwest China's Guangxi Zhuang Autonomous Region, on Oct. 31, 2006. [newsphoto]

China will continue to work with Asian neighbours to take economic and trade co-operation forward, "to realize the objective of raising China-ASEAN trade to more than US$200 billion by 2010," he said.

Leaders from the 10 ASEAN member countries also attended the ceremony yesterday.

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Philippine President Gloria Arroyo, whose country currently holds the rotating presidency of ASEAN, said the association is seeking to increase trade ties with China.

She said China should not only buy more products, but also be a place to carry out integrated trade. "Our businessmen are looking not only for products to bring home, but also for industries where Chinese and ASEAN manufacturers can collaborate to produce for our own domestic markets and the rest of the world," she said.

The China-ASEAN Expo was initiated by China in 2004, with the aim of deepening the strategic partnership between ASEAN and China and promoting stronger economic ties, investment and people-to-people exchanges.

The current session has attracted more than 30,000 business people, according to Commerce Minister Bo Xilai, the host of the opening ceremony.

Yesterday, a total of 10 economic co-operation agreements worth US$600 million were signed between China and ASEAN in infrastructure, energy, textiles, and medical sectors. Aanother 80 project agreements between China, ASEAN and some other nations worth about US$3.1 billion were also signed.

In another development, the China-ASEAN Women Entrepreneurs' Forum was held yesterday on the sidelines of the summit. The event is helping increase the participation of women in business.

President of the All-China Women's Federation Gu Xiulian said women must innovate to make up for lost time, and co-operate substantively in technology and economy.