The service trade between China and ASEAN (the Association of
Southeast Asian Nations) is expected to grow by a large margin in
2007, according to Lu Jianren, an economist with the Chinese
Academy of Social Sciences (CASS).
Lu made the remarks on Wednesday in a seminar on China-ASEAN
economic and trade relations.
Lu said China and ASEAN member states have their respective edge
in the service industry, as China is competitive in computer
service, Singapore in financial, legal and exhibition services,
Thailand in tourist service.
Lu pointed out that with the great gap between different
countries in different service sectors, it is difficult and
challenging for these countries to fully open their service
industry to other countries.
If China and ASESAN could sign agreements to further reduce
access restrictions on their domestic service industry, the service
trade between the two sides could see a big increase, Lu added.
The stable economic development of the US and Japan, China and
ASEAN, the expanding international trade volume and a steady oil
price would create favorable conditions for further step-up of
China-ASEAN economic and trade relations, Lu noted.
However, the possible outbreak of bird flu, natural disasters,
regional security and global financial risks would slow down the
increase of the trade.
Lu said the China-ASEAN trade volume would continue to increase
by about 20 percent in the year of 2007 despite the negative
factors.
Latest statistics showed that China-ASEAN trade volume totaled
US$129.91 billion from January to October of 2006, an increase by
23.1percent over the same period of 2005.
The seminar was held prior to Chinese Premier Wen Jiabao's
official visit to the Philippines and attendance to a series of
meetings in Cebu City from Jan. 13 to 16. The meetings will
highlight the cooperation between China and ASEAN countries.
(Xinhua News Agency January 11, 2007)