China's economic growth facilitates ASEAN's development: seminar

China's rapid economic growth has created more opportunities for the Association of Southeast Asian Nations (ASEAN) to enhance its economic development, said delegates Tuesday at an international seminar in Hanoi.

"ASEAN is not only an important destination of China's exports, but also a key destination for Chinese enterprises," Gu Yuanyang, professor at China's Social Science Institute, said at the two-day seminar starting Tuesday.

The two-way trade between China and ASEAN is expected to exceed 200 billion US dollars in 2010, he said, noting that the block is now the 4th biggest trade partner of China.

John Wong, research director of Singapore's East Asian Institute, echoed Gu's statement, saying that the growing market of China will help ASEAN members boost their exports.

The trade and foreign direct investment between the ASEAN and China will continue to grow under the impact of the China-ASEAN Free Trade Area, he said, noting that their two-way trade stood at 105.9 billion dollars in 2004, one year ahead of schedule.

The ASEAN comprises of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Source: Xinhua