Chinese, ASEAN Business Delegates on Cooperation Among Commercial Chambers, Firms

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Last updated at: (Beijing Time) Tuesday, December 17, 2002

Chinese, ASEAN Business Delegates on Cooperation Among Commercial Chambers, Firms

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Chambers of commerce and enterprises in China and members of the Association of Southeast Asian Nations (ASEAN) should enhance cooperation to accelerate the establishment of the China-ASEAN free trade area.

This is unanimous view expressed by business leaders from China and the Association of Southeast Asian Nations (ASEAN) Monday in Kunming, capital of southwestern Yunnan province at the ongoing 2nd China-ASEAN Business Council Meeting.

Yu Xiaosong, president of the China Council for the Promotion of International Trade (CCPIT), chairman of China-ASEAN Business Council, at the meeting cited the building of the China-ASEAN free trade area as a "very great" project and said that all governments had done a great deal to set up sound political, economic and cultural bilateral ties.

The non-governmental chambers of commerce of both sides, as important business intermediary agencies, should present more business opportunities for the firms of both sides through various channels to enhance their trade ties, Yu said.

Through the establishment of a business website and the organization of exhibitions and business forums, Yu noted, the CCPIT has established a platform for enhancing ties between enterprises and government.

Directly benefiting from the planned free trade area, enterprises from China and ASEAN should seize opportunities to explore bilateral markets, increase two-way investment and jointly enhance their competitive edge in the international market, he said.

China and ASEAN are close neighbors with similar cultures and traditions and with complementary advantages in the fields of natural resources and manufacturing industries, Yu said, noting that bilateral trade has great potential.

But Chinese firms, with comparatively higher technology and lower costs, should invest more in ASEAN nations, Yu said, adding the ASEAN countries have invested a total of 20 billion US dollars in China, while Chinese enterprises invested much less and focused mainly on labor export and medium-scale construction.

"Chinese investment to the ASEAN could tap the local market and create jobs for local residents as well," Yu said, noting it will be a "win-win" solution.

Pyone Maung Maung, president of the ASEAN Chambers of Commerce and Industry said in an interview with Xinhua that the chambers of commerce from ASEAN and China plan to expand their cooperation with regard to bilateral trade and that a total of 200 million US dollars from ASEAN nations had so far been invested in China.

In spite of trade competition between ASEAN and China in some areas, both sides' advantages are generally complementary, he said, noting that existing competitions could be resolved through negotiation and industrial restructuring.

The ASEAN is in need of external help, including Chinese investment to promote trade and investment between its member countries, and China needs the free trade area to tap the international market, he said.

The ASEAN-China free trade area will provide a low-tariff trade environment for enterprises from both sides, and the enterprises, as the "driving force" for the formation of the zone, should take the full advantage of opportunities offered by the intermediary agencies, such as commercial chambers, to enhance exchange and cooperation, he said.

Chinese enterprises should select firms in ASEAN countries with competitive advantages in order to obtain larger shares in the international market. The ASEAN nations welcome Chinese investment,Pyone Maung Maung said.

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