China asks ASEAN to counter Western protectionism
China asks ASEAN to counter Western protectionism
Sean Yoong, Associated Press, Kuala Lumpur
China's top trade negotiator said Thursday that his country and Southeast Asian nations must build a free trade area to avoid becoming "victims" of Western trade protectionism.
Long Yongtu, China's vice minister of foreign trade, said that China and the Association of Southeast Asian Nations need a platform to "let our voice sound louder in the decision-making process," which was dominated by the European Union and the North American Free Trade Agreement.
"If all other countries are engaging in regional economic integration, why not China and ASEAN?" Long said in a speech. "If we do not get together to have a free trade area like they have, we will be victims of trade protectionism and economic trade blocs. We will not become the victors."
China and ASEAN leaders agreed in Brunei last November to work on creating a free trade area within the next 10 years. The plan could create a combined market of 1.7 billion people and gross domestic product of US$2 trillion.
Long, speaking at a conference of regional business leaders, said that negotiations among Chinese and Southeast Asian economic officials were proceeding "very well on time" to hammer out a framework for the formation of the world's biggest free trade area.
ASEAN comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
Long sought to counter fears expressed by some ASEAN members that the free trade plan could turn Southeast Asia into a market for cheap Chinese goods. He said China was not just a major exporter of products, but also an "important importer."
"Some people are seeing too much competition between China and ASEAN, and too little cooperation," Long said. "But rivals in competition can be turned into partners in cooperation."
Long said that trade between China and Southeast Asian countries had consistently been in ASEAN's favor. China's trade with the 10-country grouping totaled $41.6 billion last year, with China importing nearly $5 billion more from ASEAN than it exported.
Long, who played a major role in negotiations for his country's membership in the World Trade Organization, suggested that he would also like to see ASEAN members become China's close ally in the WTO.
"We're all developing countries," Long told reporters. "We share a lot of common views."