Illustrative photo (Photo: Free Malaysia Today)Beijing (VNA) – The China-ASEAN Business Council(CABC) held a seminar on ASEAN-China production cooperation in Beijing on June22.
Opening the event, CABC Executive Director XuNingning said cooperation between China and ASEAN needs to be carried outseriously to improve its quality and effectiveness.
CABC data show that from January to May 2017,bilateral trade increased by 16.2 percent from the same period in 2016, higherthan the average year-on-year growth rate of China’s foreign trade. It was alsothe fastest pace compared to the expansion of China’s trade with its top threetrading partners, which are the European Union, the US and ASEAN.
Xu added that the upgraded ASEAN-China FreeTrade Area has supported the market to be opened more strongly. Closeproduction cooperation between the two sides has become one of the commonpolicies to respond to global economic instability.
He also suggested both sides’ ministries andsectors carry out well the Joint Statement between ASEAN and China onProduction Capacity Cooperation and the Joint Statement on Production CapacityCooperation among Lancang-Mekong Countries. They should also make and realisepolicies relating to the promotion of production cooperation.
At the seminar, trade representatives ofThailand, the Philippines, Cambodia, Singapore and Malaysia also introduced theproduction development and relevant policies of their countries.
They said enhancing comprehensive mechanismsduring production cooperation is of utmost importance. The two sides need toestablish a cooperation mechanism that benefits the connection of theirproduction plans and policies.
They should also specify the fields in whichthey will step up the upgrade and shifting of production structure, whileoptimising the ASEAN-China trade structure to boost bilateral investment,participants noted.-VNA
Opening the event, CABC Executive Director XuNingning said cooperation between China and ASEAN needs to be carried outseriously to improve its quality and effectiveness.
CABC data show that from January to May 2017,bilateral trade increased by 16.2 percent from the same period in 2016, higherthan the average year-on-year growth rate of China’s foreign trade. It was alsothe fastest pace compared to the expansion of China’s trade with its top threetrading partners, which are the European Union, the US and ASEAN.
Xu added that the upgraded ASEAN-China FreeTrade Area has supported the market to be opened more strongly. Closeproduction cooperation between the two sides has become one of the commonpolicies to respond to global economic instability.
He also suggested both sides’ ministries andsectors carry out well the Joint Statement between ASEAN and China onProduction Capacity Cooperation and the Joint Statement on Production CapacityCooperation among Lancang-Mekong Countries. They should also make and realisepolicies relating to the promotion of production cooperation.
At the seminar, trade representatives ofThailand, the Philippines, Cambodia, Singapore and Malaysia also introduced theproduction development and relevant policies of their countries.
They said enhancing comprehensive mechanismsduring production cooperation is of utmost importance. The two sides need toestablish a cooperation mechanism that benefits the connection of theirproduction plans and policies.
They should also specify the fields in whichthey will step up the upgrade and shifting of production structure, whileoptimising the ASEAN-China trade structure to boost bilateral investment,participants noted.-VNA
VNA
