The 20th China-ASEAN Expo in Nanning, Guangxi Zhuang Autonomous Region, has marked a significant milestone in fostering deeper cooperation and shared development between China and the Association of Southeast Asian Nations (ASEAN). With 19 diverse forums held alongside the main event, the expo has propelled negotiations for the Version 3.0 China-ASEAN Free Trade Area (FTA), bringing new opportunities and benefits to stakeholders across the region.
The collaborative spirit of the expo underscores China’s commitment to a shared future with its ASEAN counterparts. At a thematic side event titled “Institutional Opening-Up for New Regional Economic Growth,” Chinese Vice Commerce Minister Li Fei emphasized China’s dedication to expanding institutional openness and strengthening trade and investment collaboration with ASEAN. He highlighted China’s determination to reduce barriers by reasonably trimming the negative list for foreign investment access.
Li Fei also expressed China’s readiness to work closely with ASEAN to expedite negotiations for the China-ASEAN FTA Version 3.0. This commitment reflects Beijing’s dedication to the liberalization of trade and investment, aiming to foster regional economic integration and create a more open and interconnected global economy.
A notable highlight of the expo was the establishment of the China-ASEAN Standardization Cooperation and Exchange Center. This initiative underscores China’s pivotal role in international standardization, offering innovative solutions in emerging fields such as new-energy technology and electric vehicles. Strengthening collaboration in international standardization holds significant importance in today’s rapidly evolving technological landscape.
The focus on institutional opening-up presents abundant opportunities across various industries and sectors. Proposals by the Chinese Ministry of Commerce are poised to facilitate economic integration, particularly as some global powers attempt to restructure supply chains. Institutional opening-up serves as a dynamic platform to address specific challenges, fostering cooperation between China and ASEAN nations.
Engagement with the private sector is essential to ensure that the institutional opening-up initiative offers tangible benefits to all participants. By incorporating feedback and recommendations from businesses operating within the region, the initiative can be refined and enhanced to better serve mutual interests.
The eagerly awaited Version 3.0 China-ASEAN FTA promises to delve into deeper cooperation within emerging industries and regional development sectors. In a world marked by shifting dynamics and global realignments, this shared commitment to deeper engagement and integration is expected to shape the future of regional relations.
The 20th China-ASEAN Expo has not only celebrated two decades of collaboration but has also set the stage for a new era of partnership. As China and ASEAN navigate the evolving global landscape together, their strengthened ties and collective efforts are poised to contribute significantly to regional prosperity and stability.
Reference(s):
cgtn.com