China asks ASEAN to counter Western protectionism<\/p>\n
Sean Yoong, Associated Press, Kuala Lumpur<\/p>\n
China's top trade negotiator said Thursday that his country
\nand Southeast Asian nations must build a free trade area to avoid
\nbecoming \"victims\" of Western trade protectionism.<\/p>\n
Long Yongtu, China's vice minister of foreign trade, said that
\nChina and the Association of Southeast Asian Nations need a
\nplatform to \"let our voice sound louder in the decision-making
\nprocess,\" which was dominated by the European Union and the North
\nAmerican Free Trade Agreement.<\/p>\n
\"If all other countries are engaging in regional economic
\nintegration, why not China and ASEAN?\" Long said in a speech. \"If
\nwe do not get together to have a free trade area like they have,
\nwe will be victims of trade protectionism and economic trade
\nblocs. We will not become the victors.\"<\/p>\n
China and ASEAN leaders agreed in Brunei last November to work
\non creating a free trade area within the next 10 years. The plan
\ncould create a combined market of 1.7 billion people and gross
\ndomestic product of US$2 trillion.<\/p>\n
Long, speaking at a conference of regional business leaders,
\nsaid that negotiations among Chinese and Southeast Asian economic
\nofficials were proceeding \"very well on time\" to hammer out a
\nframework for the formation of the world's biggest free trade
\narea.<\/p>\n
ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia,
\nMyanmar, the Philippines, Singapore, Thailand and Vietnam.<\/p>\n
Long sought to counter fears expressed by some ASEAN members
\nthat the free trade plan could turn Southeast Asia into a market
\nfor cheap Chinese goods. He said China was not just a major
\nexporter of products, but also an \"important importer.\"<\/p>\n
\"Some people are seeing too much competition between China and
\nASEAN, and too little cooperation,\" Long said. \"But rivals in
\ncompetition can be turned into partners in cooperation.\"<\/p>\n
Long said that trade between China and Southeast Asian
\ncountries had consistently been in ASEAN's favor. China's trade
\nwith the 10-country grouping totaled $41.6 billion last year,
\nwith China importing nearly $5 billion more from ASEAN than it
\nexported.<\/p>\n
Long, who played a major role in negotiations for his
\ncountry's membership in the World Trade Organization, suggested
\nthat he would also like to see ASEAN members become China's close
\nally in the WTO.<\/p>\n
\"We're all developing countries,\" Long told reporters. \"We
\nshare a lot of common views.\"<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/china-asks-asean-to-counter-western-protectionism-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}