Nanning (ANTARA) - Various \u201cfirsts\u201d at the ongoing 23rd China-ASElar\nExpo (CAEXPO) provide a glimpse into the potential and vitality of\neconomic and trade cooperation, which has provided a significant boost\nto shared development in the region.<\/p>\n
Timor-Leste participated in the exhibition in Nanning, Guangxi Zhuang\nAutonomous Region, southern China, for the first time, as the 11th\nmember of ASEAN and an official co-host this year. Additionally, an\nexhibition area was prepared for the first time to showcase the\ntechnological needs and applications of ASEAN nations. As a new frontier\nfor mutually beneficial cooperation, artificial intelligence (AI) has\nnow become one of the primary focuses.<\/p>\n
China has remained ASEAN\u2019s largest trading partner for 17 consecutive\nyears, while ASEAN has been China\u2019s largest trading partner for six\nconsecutive years. The value of bilateral trade exceeded US$1 trillion\nlast year. Furthermore, it is noteworthy that total cumulative two-way\ninvestment has surpassed US$510 billion.<\/p>\n
The rapid pace of economic and trade cooperation, reflected in the\npresence of cross-border industrial zones which serve as important\nmilestones across the region, has created local employment while\nproviding tangible benefits to community welfare.<\/p>\n
A new dynamism will further drive China-ASEAN cooperation, and such\nmomentum is unlikely to wane.<\/p>\n
Aligned with the characteristics and needs of the region, the\nChina-ASEAN Free Trade Area (CAFTA) 3.0 Upgrade Protocol\u2014which has\nadopted high-standard trade and economic rules and explored ways to\nbuild more robust cooperation frameworks and institutional\narrangements\u2014will provide sustained momentum for economic\ndevelopment.<\/p>\n
The Pinglu Canal, a 134.2-kilometre waterway connecting Nanning with\nthe Beibu Gulf, officially opened for navigation on 16 September. The\npresence of this canal creates a new corridor for the two-way movement\nof goods between the Chinese and ASEAN markets. This waterway will also\nstimulate cross-border investment and industrial cooperation.<\/p>\n
As strong supporters of multilateralism and free trade, China and\nASEAN continue to work diligently to deepen the integration of\nindustrial and value chains.<\/p>\n
Furthermore, the commitment to higher-standard arrangements for trade\nliberalisation, facilitation, and investment demonstrates the confidence\nand determination of both parties in facing shared challenges in the\ninternational economic and trade arena.<\/p>\n
China remains committed to open and mutually beneficial cooperation,\ncontinuing to expand high-standard openness and working with ASEAN\nnations to promote the development of a China-ASEAN community with a\ncloser shared future, while creating more benefits for the people on\nboth sides.<\/p>", "url": "https:\/\/jawawa.id\/newsitem\/china-asean-cooperation-gains-stronger-momentum-1789973996", "image": "" }, "sponsor": "Okusi Associates", "sponsor_url": "https:\/\/okusiassociates.com" }