China vows to promote trade facilitation under ASEAN Plus Three mechanism

Chinese trade official said here on Thursday that China is committed to enhancing cooperation with ASEAN countries, Japan and the Republic of Korea (ROK) on trade facilitation in a systematical way.

Chinese Commerce Minister Chen Deming made the remarks at the 13rd Economic Ministers' Meeting of Association of Southeast Asian Nations (ASEAN), plus China, Japan and ROK that was held in Vietnam's central Danang city.

Chen said China aims to lower trade cost and create better trade environment through trade facilitation measures.

The economic integration of East Asia is conducive to the development of each country in the region, said Chen.

Chen said the ASEAN Plus Three mechanism has become a mainstream channel in promoting East Asia economic cooperation.

ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

The total economic output of ASEAN plus three countries accounts for nearly 20 percent of world GDP, statistics from Chinese Commerce Ministry showed. The total trade of this region makes up 31 percent of the world total trade.

Chen said during the world financial crisis, ASEAN plus three countries have maintained close exchange and communication. They all opposed trade protectionism, committed to deepening cooperation and achieved economic recovery and growth in respective country.

China is committed to participating in the East Asian regional economic cooperation and contributing to the common prosperity of East Asia.

Source: Xinhua