VIENTIANE: China and the Association of Southeast Asian Nations (ASEAN) yesterday signed a landmark agreement to cut tarrifs, a substantial step towards creating the world's biggest free trade area (FTA).
The Agreement on Trade in Goods and the Agreement on a Dispute Settlement Mechanism shows that China's ties with ASEAN have entered a new period of "comprehensive co-operation," Premier Wen Jiabao, who is attending the session, said.
ASEAN announced that the 10 members unanimously recognize China's full market economy status, and the two sides would remove tariffs by the end of the decade.
Wen yesterday attended the 10+1 summit (ASEAN plus China) as well as a 10+3 summit (ASEAN plus China, Japan and the Republic of Korea).
He said China plans to set up a special group to work with members of ASEAN to launch co-operative efforts in the South China Sea, part of a nine-point proposal raised by Wen at the Eighth China-ASEAN Summit. Wen put forward the proposals, ranging from high-level contacts to energy co-operation, during a speech saying that China and ASEAN should follow-up on a Declaration on the Conduct of Parties in the South China Sea.
"The Chinese side stands ready to have a special senior officials meeting with ASEAN and to set up a working group in a bid to launch co-operation in the South China Sea as soon as possible," Wen indicated.
"China is willing to positively explore with the countries concerned ways and means for joint development in the disputed waters in the South China Sea under the principle of 'shelving disputes while going in for joint development' and on the basis of mutual respect, equality and mutual benefit," he added.
Hoping to secure various projects with ASEAN, China will contribute an additional US$5 million to the China-ASEAN Co-operation Fund, Wen said.
In addition, the Chinese Government will set up a special Asia Co-operation Fund totalling US$15 million to support the participation of Chinese agencies in regional co-operation, especially ASEAN, he announced.
Wen said China will continue to support ASEAN's leading role in the region. China's partnership with the 10-member ASEAN, dubbed as 10+1, started in 1991.
Wen said that China and ASEAN should hasten negotiations on trade in service and investment and proposed closer teamwork on customs, inspections and quarantine.
Wen also said ministerial dialogue mechanisms should be put in place on energy to stabilize energy supplies and ensure transport security.
In the field of non-traditional security, including shipping, Wen said the two sides should increase their partnership.
"China is willing to accede at an early date to the Protocol to the Treaty on the Southeast Asia Nuclear Weapon-Free Zone," the premier said.
To intensify sub-regional collaboration, China yesterday signed a Memorandum of Understanding on the joint co-operation to push forward construction of an Information highway in the Greater Mekong Subregion with five Mekong River Basin countries.
Closer cultural and youth partnerships are also part of Wen's proposal.
ASEAN groups include Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Singapore, Thailand, the Philippines, and Viet Nam.
Additionally, he suggested the year 2006 be designated as the Year of Friendship and Co-operation between China and ASEAN with a series of commemorations.
China and ASEAN yesterday also released a Plan of Action to Implement the Joint Declaration on the Strategic Partnership for Peace and Prosperity. The document draws up an overall blueprint for a China-ASEAN partnership across the board for the next five years.
All ASEAN leaders welcomed Chinese Premier Wen Jiabao's proposals and said China's development has brought benefits and opportunities to the group, according to a Chinese Foreign Ministry spokesman.
They hope to expand their mutually-beneficial partnership with China in trade, investment, agriculture, science, technology, culture and security fields.
At the 10+3 summit, Wen suggested pushing steadily for the establishment of an "East Asia FTA."
ASEAN has launched the process of "ASEAN Economic Community" and China and ASEAN have reached consensus on the free trade of goods. Japan and the Republic of Korea (ROK) are negotiating with ASEAN on an FTA, while China, Japan and the ROK are conducting joint academic research on a free trade arrangement among themselves.
"These developments have paved the way for the establishment of an East Asia FTA," said Wen, adding that China is ready to take the initiative to launch a feasibility study of East Asia FTA and host the first expert group meeting in Beijing in April of next year.
In the financial and investment sectors, countries in East Asia must improve the investment and financing environment and build risk prevention and control capacities, according to Wen.
Since terrorism and transnational crimes pose threats to all countries, it is necessary to expand security dialogue and co-operation, Wen said in a speech delivered at the summit.
He also called for increasing social, cultural, scientific and technological partnerships, pooling intellectual resources for 10+3 co-operation and making sound plans for future East Asian collaboration.
"China would not develop without co-operation with other Asian countries," said Wen.
(Source: China Daily 11/30/2004)
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