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China-ASEAN Economic and Trade Towards the Era of Comprehensive Cooperation
Click： Time：2020-05-14 00:00:00
China-ASEAN Economic and Trade Towards the Era of Comprehensive Cooperation
According to customs statistics, the total value of trade between China and ASEAN in the first four months of this year was 1.35 trillion yuan, an increase of 5.7%, accounting for 14.9% of China's total foreign trade. ASEAN replaced the EU as China's largest trading partner. Despite the epidemic, the foreign trade between China and ASEAN is still growing against the market, which fully shows that China and ASEAN have unlimited potential for economic and trade cooperation.
"From the figures in the first half of this year, we can clearly see that the trade services and comprehensive economic cooperation between China and the ASEAN Free Trade Area are rising rapidly." The interviewed experts said.
Complementary advantages complement free trade bonus
There is great complementarity between China and ASEAN in the industrial market. "China has the most complete, independent and complete manufacturing system and related technologies and services in the world. And ASEAN has accumulated certain advantages in agricultural production and tourism services. In recent years, ASEAN has gradually shifted the advantages of raw materials and agricultural products to downstream supply chains. Therefore, there are great expectations and demands for China's infrastructure construction, including communications and manufacturing. "Wang Jian, a professor at the University of International Business and Economics, said in an interview with a reporter from China Trade News that many ASEAN countries such as Malaysia, Thailand, the Philippines, and Vietnam , Cambodia, etc. have many young labors, and they have great advantages in terms of production costs.
In October last year, the China-ASEAN Free Trade Area Upgrade Protocol came into full effect, further releasing the dividends implemented by the Free Trade Area. "The protocol covers almost all areas of free trade in this region, not only includes comprehensive tariff reduction, but also includes many specific measures for customs clearance and trade facilitation. At the same time, the agreement also extends to the field of service trade and investment, especially the relaxation of Investment requirements in many areas, such as opening up in many fields such as communications, financial securities, tourism, and aviation services, allowing more Chinese enterprises to land in ASEAN countries. "Wang Jian said that China-ASEAN Free Trade Area upgraded the" Protocol 》 The full-scale entry into force played a very important role during the epidemic. It will definitely promote the economic and trade cooperation between the two sides to a new level and provide new impetus for the economic development of both sides.
Reprinted from: China Trade News
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