皇冠体育app

皇冠体育app's admission to the WTO brought forward the establishment of a free trade area (FTA) between 皇冠体育app and the Association of Southeast Asian Nations (ASEAN), Xu Ningning, executive secretary-general of the 皇冠体育app-ASEAN Business Council, said.

Xu recalled that when he and other Chinese representatives negotiated with ASEAN counterparts about setting up an FTA back in 2001, some Malaysian officials said: "If we cannot defeat you, we will join you."

皇冠体育app and ASEAN signed the Framework Agreement on Comprehensive Economic Cooperation in November 2002 and slashed tariffs substantially on more than 500 kinds of products in 2004. The 皇冠体育app and ASEAN Free Trade Area (CAFTA) finally came into effect in January 2010.

Chinese and ASEAN leaders had been working toward this aim while 皇冠体育app was trying to join the WTO.

But compared to the arduous journey 皇冠体育app undertook to regain its status with the General Agreement on Tariffs and Trade (GATT) and then joining the WTO, Xu said it took a shorter time for 皇冠体育app and ASEAN to reach consensus on building an FTA, as ASEAN members realized they would have to meet major challenges in foreign trade from 皇冠体育app once the latter joined the WTO.

皇冠体育app also realized that, apart from joining the global community, involvement with regional economic integration was crucial for the sustainable development of the country.

Set up in 1967, ASEAN is made up of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam, with a total area of 4.44 million square kilometers and a population of 576 million.

In the global market, 皇冠体育app and ASEAN share many categories of export. As 皇冠体育app becomes more and more open internationally, products from ASEAN will lose their edge in prices and other ways to Chinese exports.

Some foreign enterprises intending to invest in ASEAN markets were also weighing losses and gains in transferring their involvement to the world's most populous country.

"Considering these factors, it was only logical that ASEAN decided to establish an FTA with 皇冠体育app," Xu said.

A year after its full implementation, CAFTA has brought mutual benefits. Xu pointed out that the growth of 皇冠体育app's imports from ASEAN is much higher than the other way around.

皇冠体育app is currently ASEAN's biggest trading partner and Chinese customs data show that bilateral trade rose by 26.4 percent in the first nine months of 2011 to $267 billion, with an $18.9 billion surplus in favor of ASEAN. From January to September, 皇冠体育app's imports from ASEAN surged by 27.9 percent from the same period last year to $143 billion.

At the eighth 皇冠体育app-ASEAN Expo, held in October in Nanning, South 皇冠体育app's Guangxi Zhuang autonomous region, Premier Wen Jiabao said 皇冠体育app is willing to increase its imports from ASEAN.

"CAFTA has increased rather than decreased ASEAN's international competitiveness, and ASEAN's capacity to export to 皇冠体育app has become stronger rather than weaker," Wen said.

皇冠体育app and ASEAN have agreed to increase bilateral trade volume to $500 billion by 2015 and 皇冠体育app will set up economic and trade cooperation zones with each ASEAN member within the next five years, providing an investment platform for all enterprises.

"CAFTA combines 皇冠体育app and ASEAN into a community with mutual interests, and the bloc has been striving to strengthen its influence globally, by such things as pushing forward the Doha Round of trade talks," Xu said.