ASEAN, China laud bilateral trade-investment growth despite pandemic
Economic ministers from member states of the Association of Southeast Asian Nations (ASEAN) and China on August 27 welcomed the robust growth of bilateral trade and investment despite impacts of the COVID-19 pandemic.
People attend the eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting via video conference in Hanoi, Vietnam on Aug. 27, 2020 (Photo: Xinhua/VNA)
Hanoi (VNA) - Economic ministers from member states of the Association of Southeast Asian Nations (ASEAN) and China on August 27welcomed the robust growth of bilateral trade and investment despite impactsof the COVID-19 pandemic.
According to a joint statement of the 19th AEM (ASEANEconomic Ministers)-MOFCOM (Ministry of Commerce of China) Consultations, whichwas held virtually, the ministers considered the growth a demonstration of resilience and huge potential of trade and economic cooperation between ASEANand China. The consultations were part of the 52nd meeting of the ASEAN EconomicMinisters (AEM-52) and related meetings hosted by Vietnam.
The ministers reaffirmed the importance ofstrengthened collaboration to promote trade and investment for economicrecovery and acknowledged the important role of the rules-based multilateraltrading system in driving post-pandemic economic recovery.
They reiterated their support to ensure the enforcement ofexisting international rules as well as for the WTO reform to uphold a free,open, non-discriminatory, transparent and predictable trade and investmentenvironment.
The ministers also hailed the Joint Statement on EnhancingCooperation under Free Trade Area (FTA) and Combating COVID-19, which sent apositive signal of utilizing the FTA to promote trade and investment, maintainregional and global supply chains, mitigate the pandemic's economic impacts, andbuild a stronger economic region.
China remained ASEAN's largest trading partner since2009 while ASEAN became China's largest trading partner for the first time inthe first half of this year, said the statement. In 2019, their bilateral tradereached 507.9 billion USD and foreign direct investment flows from China toASEAN amounted to 9.1 billion USD./.
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People attend the eighth Regional Comprehensive Economic Partnership (RCEP) Ministerial Meeting via video conference in Hanoi, Vietnam on Aug. 27, 2020 (Photo: Xinhua/VNA)
