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ASEAN – CHINA the New Economic Partnership. Mr. Zhou Hongli Minister Counsellor Embassy of People ’ s Republic of China February 18, 2004. Main Topics:. Economic cooperation between China and ASEAN ASEAN-China Free Trade Area (ACFTA) China ASEAN Expo. China and ASEAN: Close Neighbors.

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ASEAN – CHINA the New Economic Partnership

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Asean china the new economic partnership

ASEAN – CHINAthe New Economic Partnership

Mr. Zhou Hongli

Minister Counsellor

Embassy of People’s Republic of China

February 18, 2004


Main topics

Main Topics:

  • Economic cooperation between China and ASEAN

  • ASEAN-China Free Trade Area (ACFTA)

  • China ASEAN Expo


China and asean close neighbors

China and ASEAN: Close Neighbors

  • China’s foreign policy:

    1. To build friendly relationship and partnership

    with neighbors (与邻为善,以邻为伴);

    2. To build amicable, tranquil and prosperous

    neighborhood (睦邻,安邻,富邻)

  • Friendly & co-operative relations serves the fundamental interests of our peoples and the stability and development of the region.


China asean comprehensive economic cooperation

China-ASEAN Comprehensive Economic Cooperation

  • Bilateral Trade: ASEAN remains China’s the 5th largest trading partner in the past 10 years.

  • Two-way investments, and contracting projects and labor service have increased tremendously.

  • Close cooperation in international and regional economic arena: WTO, APEC, ASEM, ASEAN+3, ASEAN-China FTA, etc.


Characters of bilateral trade

Characters of Bilateral Trade

  • Grew fast: 20% annual increase since 1990;

  • Share in China’s total trade rose: from 5.9% in 1990 to 9.2% in 2003;

  • Trade balance: in favor of ASEAN countries (US$16.4 billion in 2003)

  • China’s largest trading partner in ASEAN: Malaysia overtook Singapore since 2002.


Fast trade growth b n china and asean

Fast Trade Growth b/n China and ASEAN


Asean china the new economic partnership

Trade with ASEAN Members in 2003(in million US dollars)


Asean china the new economic partnership

Malaysia has the Largest Shares


Trade target

Trade Target

  • China and ASEAN leaders agreed: the trade between China and ASEAN shall reach US$100 billion in 2005.

  • Achievable: need only 13% annual growth in the next two years.


Asean total investment to china by the end of 2003

ASEAN Total Investment to China(by the end of 2003)

  • Total projects: 22075

    Share in China’s total: 4.75%

  • Total contractual amount: US$64.59 billion

    Share: 6.84%

  • Total paid-up investment: US$32.37 billion

    Share: 6.46%


Asean china the new economic partnership

Singapore is the Largest ASEAN Investor in China


Asean china the new economic partnership

Total Chinese Investment in ASEAN

( by the end of 2003,in million US$)


Shares of chinese investment in asean against in asia and the world

Shares of Chinese Investment in ASEAN against in Asia and the World

Share in Asia

Share in the world


Process of establishing acfta

Process of Establishing ACFTA

  • At the 4th ASEAN+China (10+1) Summit in Singapore in November 2000, leaders of ASEAN and China agreed to explore the possibility of establishing a free trade area (FTA).

  • The ASEAN and China Expert Group on Economic and Cooperation was formed to study the feasibility of FTA.


Process of establishing acfta1

Process of Establishing ACFTA

  • At 5th ASEAN+China Summit in Brunei in November 2001, leaders endorsed the proposal made by the Expert Group for a Framework on Economic Cooperation and to establish an ASEAN-China Free Trade Area within 10 years.

  • Trade Negotiation Committee was formed to negotiate tariff reduction or elimination.


Process of establishing acfta2

Process of Establishing ACFTA

  • At 6th ASEAN+China Summit in Cambodia in November 2002, leaders singed “Framework Agreement on Comprehensive Economic Cooperation between ASEAN and China”.

  • The Agreement is the groundwork for establishment of ACFTA by 2010 for the 6 older ASEAN members and 2015 for 4 newer members.


Process of establishing acfta3

Process of Establishing ACFTA

  • At 7th ASEAN+China Summit in Indonesia in October 2003, leaders signed Protocol to Amend the Framework Agreement.

  • to concrete certain issues, especially “Early Harvest Programme”, which already started on January 1 2004, and “Rules of Origin”


What to happen in 2004

What to happen in 2004

  • ASEAN and China agreed negotiations for the trade in goods component of the FTA will be concluded by 30 June 2004


Significance of acfta

Significance of ACFTA

  • Third largest FTA in terms of economy and trade, next to NAFTA and EU.

  • The Largest FTA in terms of population:

    1.7 billion of population

    US$2000 billion of GDP

    US$ 1200 billion of trade

  • Unlike NAFTA and EU, ACFTA is dominated by developing countries.


Acfta tariff reduction

ACFTA Tariff Reduction

  • Products in the Normal Track:

    tariff rates to be gradually reduced or eliminated over a period from 1 January 2005 to 2010for ASEAN 6 and China, and from 1 January 2005 to 2015for ASEAN 4;

  • Products listed in the Sensitive Track:

    tariff rates to be reduced in accordance with the mutually agreed end rates and end dates.


Early harvest programme

Early Harvest Programme

Tariff reduction commenced from January 1 2004, 0% tariff rates by 2006. It covers more 500 products, mostly agricultural products listed in the first 8 Chapters of HS Code.


Rules of origin

Rules of origin

At least 40% of contents from ACFTA

Trade in service

For services and investment, negotiations commenced in 2003 and would be concluded as expeditiously as possible. 


Acfta also covers cooperation in other areas

ACFTA also Covers Cooperation in Other Areas

  • Cooperation in 5 priority sectors, namely:

    (a) agriculture;

    (b) information and communications technology;

    (c)human resources development;

    (d) investment; and

    (e) Mekong River basin development.


Asean china the new economic partnership

  • And other areas: banking, finance, tourism, industrial cooperation, transport, telecommunications, intellectual property rights, small and medium enterprises (SMEs), environment, bio-technology, fishery, forestry and forestry products, mining, energy and sub-regional development.


Other measures relating to trade

Other Measures Relating to Trade

  • Elimination non-tariff barriers;

  • Progressive liberalisation of trade in services with substantial sectoral coverage;

  • Establishment of effective trade facilitation measures, including, but not limited to, simplification of customs procedures and development of mutual recognition arrangements;


Welcome to china asean expo

Welcome to CHINA-ASEAN EXPO

  • At the 7th ASEAN+China(10+1) Summit Meeting, on October 8 2003, Chinese Premier Wen Jiabao suggested that a China–ASEAN Expo be held yearly, starting from 2004, in Nanning, China to promote mutual commercial cooperation.

  • Chinese Premier’s proposal was welcomed by ASEAN leaders and was later written into the Chairman's Statement of the Summit


Purpose of china asean expo

Purpose of CHINA-ASEAN EXPO

To promote the construction of China-ASEAN Free Trade Area (CAFTA), sharing opportunities of cooperation and development.


Asean china the new economic partnership

TIME AND VENUE

  • Every November, starting from 2004, in Guangxi, China

  • This year: November 3-6, 2004, at Nanning International Convention and Exhibition Center.


Asean china the new economic partnership

SPONSORS AND ORGANIZERS:

  • Sponsors: Ministry of Commerce of China Ministries of Trade or Commerce of ASEAN Members

  • Organizer: Government of Guangxi Zhuang Autonomous Region, China


Asean china the new economic partnership

SCALE OF THE EXPO:

  • Accommodates 2,000 international standard exhibition booths,

  • 200 non-standard booths

  • An outdoor exhibition area of 26,000 square meters.

  • It is estimated to receive some 20,000 businessmen worldwide.


Asean china the new economic partnership

ACTIVITIES

  • Trade in goods: to promote trade among ACFTA members;

  • Talks on investment: to enlarge two-way investment in ACFTA, introducing investment environment, releasing investment information;

  • Trade in services and other areas of cooperation: to promote the flow of capital, information, talents, enhance the cooperation in tourism, telecommunication, logistics, finance, project contracting and other areas;


Asean china the new economic partnership

ACTIVITIES

  • Theme seminars: on hot topics of CAFTA construction, which invite the attendances of government officials, experts, researchers, and entrepreneurs

  • Culture exchange: showing the splendid culture of all nations that would further promote mutual understanding and friendship


For participation and more information

For Participation and More Information

1. IE Singapore

Mr. Lim Kay Siong

Tel: 64334477

Fax: 62387560

2. Guangxi Economic and Trade Commission

Mr. Nong Rong or Ms. Huang Yuan

Tel: (86771)-2109510 or 2109509

Fax: (86771)-2109835 or 2109266

Email: [email protected]

Website: www.caexpo.org


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