ASEAN to strengthen ties, trade commitments with China

BEIJING - Foreign ministers of member nations of ASEAN have reaffirmed their vows to strengthen trade commitments and “mutual trust” with China. During their 47th ASEAN Foreign Ministers meeting (AMM) held in Naypyitaw, Myanmar, yesterday, Ministers discussed the importance of implementing the ASEAN-China Free Trade Agreement (ACFTA), which was drafted with the purpose of achieving two-way trade of US$500 billion by 2015 and US$1 trillion by 2020 - and two-way investment of US$150 billion during the next six years.

The commitments extend beyond the economic sector to include an enhancement of trust in the political and socio-cultural spheres: Ministers also discussed future people-to-people exchanges and other activities that support the ASEAN-China Plan of Action on Culture Co-operation. Both China and ASEAN plan to increase academic exchanges. www.webershandwick.cn (ATI).