ASEAN optimistic on trade with China

(Xinhua)
Updated: 2009-10-07 20:42

The Secretary General of Southeast Asian Nations (ASEAN) Surin Pitsuwan said in Jakarta on Wednesday that ASEAN states are optimistic about their trade relationship with China under the ASEAN-China free trade agreement scheduled to take into effect January 1 next year.

"So far the ASEAN countries have take great deal of benefits from the growth of China and I am sure Chinese industry and productive sector must also appreciate components from the ASEAN countries," Surin said in an exclusive interview with Chinese media in Jakarta.

According to the ASEAN secretary general, the industry in ASEAN states have been supplying components for manufacturers in China for many years.

"We are all participating in the growth of China. So I think the evidence is very clear that China is our third trading partner, next to Japan and EU and has overtaken the United States." Surin added

Surin said that the trade growth between ASEAN and China has reached up to 20 percent per year, regarding it as impressive by any standard.

"The trade growth between the two economies had tripled from $59.6 billion in 2003 to $192.8 billion in 2008. I think it was high by any standard," Surin said.

Surin added that all ASEAN states and China agreed that freer trade and freer flow of products, services and investment between the two economies would serve the region very well.

He added that ASEAN officials and their Chinese counterparts have completed investment agreement in August this year, prior to the enacted free trade pact between them.