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Overtake America and Europe! Why ASEAN becomes China’s largest trading partner?

TIME:2023-08-11 17:59

 

This year marks the 20th anniversary of Chinas accession to the Treaty of Amity and Cooperation in Southeast Asia. Over the past 20 years, China and ASEAN have adhered to the spirit of the Treaty, expanded all-round mutually beneficial cooperation and opened up the right way of long-term neighborliness and, friendship, common development and prosperity. Especially in the past three years, China and ASEAN have been each others largest trading partners, with the total bilateral trade volume close to 1 trillion US dollars. This week, a series of events of the ASEAN-China Week 2023were held in Fuzhou, Fujian Province, aiming at promoting the all-field, high-quality and sustainable development of China-ASEAN Comprehensive Strategic Partnership. Lanting Report interviewed the ASEAN politicians, diplomatic envoys to China and think tank scholars attending the meeting. They believed that the future cooperation between China and ASEAN would become a huge impetus under the changes of international trade and the new geopolitical situation. 

In early August in Fuzhou, the blooming jasmine flowers and the best-selling tropical fruits in Southeast Asia attracted guests from afar. Nong Rong, Assistant Foreign Minister of China, said at the opening ceremony of ASEAN-China Week 2023 that the relationship between China and ASEAN was like a saying in Southeast Asia that the lotus flowers grow taller as the water rises”. 

This year, leaders of ASEAN countries such as the Philippines, Cambodia, Singapore, Malaysia, Vietnam and Indonesia have visited China successively, with frequent high-level interactions like relatives. In terms of trade, in the first half of this year, China’s imports and exports to ASEAN countries accounted for 3.08 trillion yuan, up 5.4% year-on year. The import of agricultural products alone reached 125.08 billion yuan, up 7.5%. 

 

 

Nong Rong, Assistant Foreign Minister of China said that among the imported agricultural products, the import of fresh durian increased by 65%, and 80% of durian produced in Thailand entered the China market through the China-Laos railway. Consumers in China are one step closer to realizing durian freedom.” 

The ASEAN-China relationship: the most dynamic, meaningful and mutually beneficial 

China joined the Treaty of Amity and Cooperation in Southeast Asia in 2003. At that time ASEAN was Chinas fifth largest trading partner and China was ASEANs third largest trading partner. After 20 years, China and ASEAN have been each others largest trading partners for three consecutive years. The bilateral trade almost reached 1 trillion dollars in 2022, which was more than 12 times higher than that of 20 years ago. With the achievements and cooperation foundation, the guests attending the first ASEAN-China Week have more confidence and expectations for the cooperation prospects between China and ASEAN in the new era. 

Sommad Pholsena, Vice President of the Lao National Assembly, said that after the opening of the China-Laos railway, the high mountains are no longer high and the long journeys are no longer long between Laos and China. Economic integration and connectivity in the ASEAN region have been strengthened. 

ASEAN-China relations are the most dynamic, meaningful and mutually beneficial among ASEAN's dialogue partners, said Satvinder Singh, Deputy Secretary General of ASEAN Secretariat. 

Djauhari Oratmangun, Ambassador of the Republic of Indonesia to China, has visited Fuzhou for 11 times since he took office, where there are thousands of ASEAN students, and where China and Indonesia establish the first demonstration park for economic and trade innovation and development between China and ASEAN countries, exploring the connectivity of industries and facilities and the reciprocity of policies. During the ASEAN-China Week, 28 major projects under the China-Indonesia "Two Countries, Twin Parks" were introduced or put into production. And9 key projects with a total investment of nearly 30 billion yuan were signed. Djauhari Oratmangun told Lanting Report that "Looking ahead, if we seriously implement the concept of cooperation between the leaders of the two sides, I think that ASEAN and China's bilateral trade volume in the next 20 years will triple, and the investment will also increase accordingly." 

Expert: China and ASEAN Share Common Development Philosophy 

Why is the relationship between China and ASEAN so stable and strong? Why has ASEAN grown rapidly and replaced the United States and the European Union to become China's largest trading partner? Experts believe that China and ASEAN share a common development philosophy and value a peaceful development environment. 

 

 

Xu Bu, President of China Institute of International Studies and former Chinese ambassador to ASEAN, said that the practical cooperation between China and ASEAN has achieved fruitful results because both sides are committed to prioritizing development, focusing on economic development and improving people's living standards. Leaders on both sides have demonstrated political vision and wisdom. They recognized that only through their commitment to practical cooperation can they truly achieve sustainable development in their relationship. 

 

 

Henry Huiyao Wang, Founder and President of Center for China and Globalization, told Lanting Report that bilateral cooperation between China and ASEAN will also support global economic development, peace and stability. Therefore, the cooperation between China and ASEAN is a new direction and a new focus for our development in the future. 

 

 

Shi Zhongjun, Secretary General of the ASEAN-China Centre, said that only when China and ASEAN join hands can we maintain peace and stability in the region and ensure the development and prosperity. 

At present, China and ASEAN are actively promoting the FTA 3.0 negotiations and the full entry into force of the Regional Comprehensive Economic Partnership Agreement. The in-depth cooperation between China and ASEAN has brought tangible benefits to 2 billion people. However, at the same time, we can see that the unilateralism and protectionism policies pursued by some extra-territorial countries have affected the Asia-Pacific region, including China's cooperation with ASEAN, to a certain extent. For the peace and stability in the Asia-Pacific region, all parties need to join hands to overcome the obstacles and nurture ASEAN-China cooperation into an evergreen tree. 

 

Source: CCTV News 

Translation: 21CMCC