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World News September 9, 2023

Regional economic integration promotes China-ASEAN common prosperity

The 43rd ASEAN Summit, themed “ASEAN Matters: Epicentrum of Growth,” concluded in Jakarta, Indonesia, with positive outcomes. Chinese Premier Li Keqiang emphasized deepening ASEAN-China cooperation, highlighting the importance of economic integration and regional connectivity. Efforts were made to enhance the China-ASEAN Free Trade Agreement (ACFTA) and advance the Belt and Road Initiative (BRI) in collaboration with the ASEAN Outlook on the Indo-Pacific. Cooperation on infrastructure and regional projects under the BRI framework showed significant progress. Various cooperative agreements were adopted, including those focusing on agriculture, green agricultural development, e-commerce, and science and technology innovation. Trade volume between China and ASEAN in 2022 reached $975.3 billion, with a notable increase in investments, positioning ASEAN as a key trade partner for China. Experts anticipate a significant rise in bilateral trade and investment over the next two decades.

Source – CGTN

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