FTA pact set to boost trade volume

A comprehensive trade pact between China and major Southeast Asian economies that comes into effect on Friday is expected to accelerate bilateral commerce and cut reliance on developed economies hit by weak import demand, key officials from both sides said yesterday in Beijing.

Trade volume in the China-ASEAN Free Trade Area (FTA) "will jump," and the yearly rate of growth will be "40 to 50 percent or more for a certain period of time," a Thai embassy official said during a press conference held by the Ministry of Commerce (MOFCOM).

Warawudh Chuwiruch's assessment was largely shared by Chinese officials at the conference.