Senior economic officials from China and ASEAN (the Association of Southeast Asian Nations) concluded their one-day meeting Tuesday and issued a Joint Press Release.
Following is the full text of the Joint Press Release:
1. The Third Meeting between ASEAN Economic Senior Officials (SEOM) and senior officials of the Ministry of Foreign Trade and Economic Cooperation (MOFTEC) of the People's Republic of China was held on May 14, 2002 in Beijing, China. The meeting was honored by the presence of H.E.Mr. Long Yongtu, vice minister of MOFTEC who delivered the opening statement. The Meeting was co-chaired by Mr. Hoang Tich Phuc, SEOM chair and Mr. Yi Xiaozhun, director general of MOFTEC. The meeting was convened to exchange views on follow-up actions to implement the mandate by ASEAN-China Summit to strengthen economic cooperation in the new century.
Review on Five Priority Areas of Economic Cooperation Between ASEAN and China
2. The senior officials reviewed the activities undertaken in the five priority areas of agriculture, information technology, human resources development, investment and Mekong River Basin development. The senior officials noted China's contributions to the GMS program, as well as nine cooperation projects carried out in respect to human resources development sponsored by the ASEAN-China Cooperation Fund, last year. The Chinese delegation informed the meeting of the organization of a seminar on trade, investment and development to be held on 6-7 June 2002 in Kunming and requested for the participation of ASEAN ministers and officials. The seminar will address the issues on how to implement five priority areas identified by ASEAN-China leaders and strengthen economic cooperation between ASEAN and China's southern provinces.
3. The ASEAN-side was appreciative of the assistance that China has extended to ASEAN member countries in the area of human resources development and looked forward to China's further positive contribution in implementing ASEAN Integration Initiative programs (IAI) to help CLMV countries to narrow down the gap of development.
4. The senior officials emphasized on the need to strengthen coordination mechanism so as to make cooperative projects effective and efficient.
Framework Agreement on ASEAN - China Economic Cooperation
5. The senior official attached importance to the Framework Agreement on ASEAN-China Economic Cooperation as a legal instrument to govern future ASEAN-China economic cooperation. The Framework Agreement would cover a wide range of areas of cooperation in goods, services and investment and other relevant areas. It would contain guidelines and principles, scope and modalities for establishing a free trade area including early harvest, special and differential treatment (S&D) and flexibility, taking into account different levels of development between ASEAN countries and China.
6. The senior officials consider the decision by the leaders a historic milestone in economic cooperation between ASEAN and China. To that end, the senior officials decided to establish ASEAN-China Trade Negotiating Committee (ASEAN-China TNC) to start working on the Framework Agreement in more details so that the Agreement could be concluded by end of the year 2002 at the ASEAN-China Summit in Cambodia.
7. The senior officials recognized the tremendous importance of the ASEAN-China FTA which would not only enhance the current economic cooperation programs but also contribute to strengthening and expanding trade and investment relationship between the two regions. The decision to establish ASEAN-China Free Trade Area demonstrates strong commitments made by ASEAN-China leaders to regional integration and economic globalization in pursuit of peace and stability and prosperity in the region.
( May 15, 2002)
