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Last updated at: (Beijing Time) Thursday, August 28, 2003

China Encourages Enterprises to Enter ASEAN Market

Chinese enterprises should "step out of China' and enter the Association of Southeast Asian Nations (ASEAN) market, said An Min, vice-minister of commerce here Thursday.


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Chinese enterprises should "step out of China' and enter the Association of Southeast Asian Nations (ASEAN) market, said An Min, vice-minister of commerce here Thursday.

Addressing a two-day seminar on the Malaysian market, An said China has strengthened economic cooperation with ASEAN. According to the Framework Agreement on China-ASEAN Comprehensive Economic Cooperation signed in November 2002, China and ASEAN will set up a free trade area in 10 years, which will provide huge development potential, he said.

He said Malaysia has the largest trade volume with China of all ASEAN nations. This is the first such seminar and the ministry will held more such seminars on other Asian nations to introduce overseas markets to Chinese enterprises, he said.

An said China and Malaysia enjoy good relations and mutually complementary economies and the prospect for cooperation is great. He suggested that Chinese enterprises expand exports to Malaysia to reduce the trade deficit, invest more, and open processing factories in Malaysia.

Lu Kejian, deputy director in charge of Asian affairs with the Ministry of Commerce and Zhang Yingwen, economic counselor with the Chinese Embassy to Malaysia, introduced China's trade and economic relations with ASEAN and Malaysia.

The trade volume of China and Malaysia reached 14.27 billion US dollars in 2002, up 51 percent year-on-year, and accounts for one fourth of the trade volume with ASEAN. Malaysia is China's largest trade partner among ASEAN nations and the seventh largest trade partner.


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