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China's WTO Entry Means Opportunities for ASEAN: Premier
Chinese Premier Zhu Rongji said in Singapore November 25 that China's entry into the WTO means more opportunities for countries of the Association of the Southeast Asian Nations (ASEAN).
Addressing ASEAN leaders at the ASEAN Plus China Summit, Zhu said that as China and the Southeast Asian countries vary in economic structure and export composition, the ASEAN countries are not China's main competitors in the U.S. and other developed markets.
For instance, he said, China's export to the U.S. is led by light industrial products, while ASEAN's export to the country is led by integrated circuits.
The bulk of the overseas capital that China's mainland has attracted is from Hong Kong and Taiwan, rather than from developed countries.
Therefore, Zhu said, China's accession to the WTO means a bigger market and more business opportunities to ASEAN countries.
"It would bring them more opportunities than challenges, and more advantages than disadvantages," the Chinese premier said.
He said he is confident that China's entry into the WTO will bring about a win-win situation to both China and ASEAN.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.
China, ASEAN Strengthen Trade, Investment Links: Chinese Premier
Premier Zhu Rongji November 25 urged stronger trade and investment links between China and the Association of Southeast Asian Nations (ASEAN).
Zhu said that the ever-closer economic cooperation and trade between China and ASEAN make it necessary for both sides to further facilitate unfettered exchange of goods, technologies, capital and information.
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