Enterprises Expected to Play Important Role in China-ASEAN Free Trade Area

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Last updated at: (Beijing Time) Wednesday, December 18, 2002

Enterprises Expected to Play Important Role in China-ASEAN Free Trade Area

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President of the China Council forthe Promotion of International Trade (CCPIT) Yu Xiaosong proposed Tuesday in Kunming that certain commodities be traded in accordance with the conditions stipulated by the future China-ASEAN free trade area. He added that the Chinese government would welcome suggestions from enterprises in this regard.

Yu told Xinhua at the 2nd China-ASEAN Business Council Meeting and Business Forum that it is already possible to trade certain commodities between China and ASEAN nations according to the conditions of the free trade area framework agreement.

As the principal components of the market and also the direct beneficiaries, enterprises are more familiar with the market and the Chinese government is thus expecting more suggestions from them, Yu said.

Ngoh Keh Chang, chairman of the Singapore Chamber of Commerce and Industry in China, said the free trade area could facilitate commodity trade and inter-enterprise cooperation as well, which could provide "direct benefits" to enterprises and individuals.

"Enterprises should be more active in promoting the building ofthe free trade area through various channels." he said.

In this way, enterprises from both sides could take full advantage of the channels provided by the commercial chambers and business forums to enhance regional cooperation with their counterparts, Ngoh said. He added that through exchanges and cooperation, companies from ASEAN countries and China could restructure themselves and their products to jointly cope with international competition and to contribute to the sound development of the free trade area.

Wan Jifei, vice president of the CCPIT, said that the CCPIT is willing to make joint efforts with ASEAN commercial chambers to generate more business opportunities for enterprises from both sides.

Located on the borders of several ASEAN countries, Yunnan Province is expected to be a hot spot for investment from China and ASEAN nations.

Xu Rongkai, governor of the province, said the establishment ofthe free trade area and the development of the Mekong River subregion will provide great business potential for enterprises from China and ASEAN nations.

Established in 2001, the China-ASEAN Business Council has become a major dialogue mechanism between China and the ASEAN.

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