Economic ministers of the 10 ASEAN member countries
and China have agreed to bolster the bilateral trade during their meeting on
the sidelines of the 51st ASEAN Economic Ministers’ Meeting (AEM 51) in
The factory of Vietnam's Garment 10 Corporation in Hanoi
Thai Deputy Prime Minister and Minister of Commerce
Jurin Laksanawisit was quoted by local media as saying on September 9 that
ASEAN countries and China have agreed to work together in the framework of
the ASEAN-China free trade agreement in three areas, which are negotiations
for the opening of more markets, updates to regulations regarding products’
Rules of Origin and free investment zones.
At the meeting, Thailand asked China to provide 130
million CNY for the implementation of several projects designed to stimulate
economic growth in the ASEAN, such as the R3A road connecting Bangkok in
Thailand and Kunming in China, developing new-generation entrepreneurs and
developing online commerce in Cambodia, Laos, Myanmar, Vietnam and Thailand.
China is the leading trade partner of ASEAN, with
bilateral trade reaching 479 billion USD in 2018, accounting for 17 percent
of ASEAN’s international trade value.
The AEM 51 and related meetings took place from
September 3-10 in Bangkok, Thailand, with the participation of economic
officials from the 10 member countries of ASEAN and partner countries.
Within the framework of the AEM 51, a series of
related meetings were also held, including the 33rd ASEAN Free Trade Area
Council Meeting, the 22nd ASEAN Economic Ministers-ASEAN Investment Area
(AEM-AIA) Council Meeting, consultations between ASEAN and its partner
countries, and the 7th Regional Comprehensive Economic Partnership (RCEP)