The bilateral economic and trade cooperation between China and countries from the Association of Southeast Asian Nations (ASEAN) has already stepped into a golden development period, said Chong Quan, spokesman for the Ministry of Commerce here Tuesday.

Speaking at the new brief of the 2nd China-ASEAN Expo, the official said the economic cooperation between China and ASEAN countries kept growing during the past few years, especially in the fields of investment, contracted projects and labor cooperation.

At the end of 2004, the ASEAN countries had completed 24,513 investment projects in China, worth 72.62 billion US dollars. According to statistics from the Ministry of Commerce, the trade between China and ASEAN countries reached 94.54 billion US dollars from January to September this year, up 25.3 percent year-on-year.

The official said the relationship between China and ASEAN countries stepped into a new phase of fast growth since the two parties signed a joint declaration concerning building a strategic partnership for regional peace and prosperity in 2003.

Chong said the economic and trade negotiations between China and the ASEAN countries are "most pragmatic, effective and distinguishing."

The negotiations concerning investment and service trade in the future China-ASEAN Free Trade Area (CAFTA ) are also proceeding in a smooth manner, said the official.

CAFTA, which will be completed in 2010, will have 1.8 billion consumers, and countries with a combined two trillion US dollar GDP.

Source: Xinhua