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ASEAN sees trade potential with China
(Xinhua)
Updated: 2004-10-11 22:55
Association of Southeast Asian Nations (ASEAN) Secretary-General Ong Keng
Yong said on Monday that great potential and opportunities exist for a closer
trade and investment relationship between ASEAN and China.
Speaking at the Chinese business leaders summit, Ong stressed that China's
rise should be seen as an economic opportunity rather than a threat.
He praised China for helping to shape Asia's new economic structure, saying
that, through its desire to have harmonious, peaceful and secure ties with
ASEAN, China has set the ball rolling.
"A rapidly growing China is the engine, which powers regional economies and
the global economic train. ASEAN member countries will benefit greatly," he
said.
Describing the ASEAN-China Free Trade Area (ACFTA) as "an excellent device"
in helping the two sides achieve their respective goals, Ong said that beyond
economy, the establishment of ACFTA by 2010 will enhance the sense of community
within East Asia and lay the foundation for furthering wider regional economic
co-operation and ensuring peace and stability.
Ong believed that the target set by Chinese Premier Wen Jiabao to increase
the trade volume between the two sides to US$100 billion by 2005 will be within
reach.
Last year, ASEAN-China trade amounted to nearly US$79 billion, he said,
adding that the trade volume is expected to rise to around US$90 billion this
year.
Ong congratulated Chinese enterprises and entrepreneurs for making such an
impact in China, the region and the world with their competitiveness, resilience
and vision.
"Today, they are major players in mercantile and industrial activities almost
anywhere. More importantly, they will be significant force in the global economy
of the future," he said.
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