Premier Wen Jiabao made new proposals to boost China's economic
cooperation with ASEAN in the opening ceremony of the Third
China-ASEAN Business and Investment Summit in Nanning on
Tuesday.
First of all, Wen said China and ASEAN countries should work for
a more enabling environment to facilitate trade, with more efforts
on expanding trade in high value-added products, such as
mechanical, electrical and hi-tech products.
"China has a trade deficit with ASEAN. But we are still
committed to further opening market and increasing import from
ASEAN," he said.
Secondly, the two sides should deepen cooperation in investment,
he said.
"China will honor its pledge made last year of providing US$5
billion of preferential loans to support Chinese companies in
investing and setting up joint ventures in ASEAN countries," Wen
pointed out.
China encourages Chinese companies to join in the development in
ASEAN countries and invest in trade and economic zones with sound
infrastructure and production chains, he said.
Wen said China also welcomes more ASEAN investment and greater
participation in China's economic development.
Thirdly, Wen said the investment projects collaborated by two
sides could be carried out in diversified forms such as project
contracting, equity holdings and technological cooperation.
"China will encourage Chinese companies to transfer applicable
technologies to ASEAN," he said.
Fourthly regarding the establishment of the China-ASEAN free
trade area, Wen said negotiations on trade in services and
investment should be stepped up to reach agreement at an early
date.
At last, sub-regional economic cooperation could become a new
focus in China-ASEAN cooperation, Wen said.
The Indonesia-Malaysia-Thailand Growth Triangle and the Greater
Mekong Sub-region Economic Cooperation Program (GMS) are off to a
good start, he said, adding that China will actively explore the
feasibility of conducting Pan Beibu Gulf cooperation.
(Xinhua News Agency October 31, 2006)
