china asean fta

http://english.peopledaily.com.cn/200111/08/eng20011108_84164.shtml

The decision to establish a China-ASEAN free trade area reflects the strong desire of leaders from both sides to bolster their already mutual confidence, and is the natural outcome of the deepening economic ties between China and ASEAN in recent years.

Chinese Foreign Ministry Spokesman Zhu Bangzao made the remarks at a press conference Thursday when asked to comment on the consensus reached by leaders from both China and ASEAN to establish a free trade area at the "10+1" meeting.

It is bound to be a win-win situation for both sides, and the setting of this goal will also have a positive influence on regional peace and development, Zhu said.

He said that at the "10+1" meeting convened in Singapore last year, all the attending countries agreed to set up an expert group to investigate the issue of establishing free trade between China and ASEAN. After a year of thorough study, the group proposed to establish a China-ASEAN free trade area within the next 10 years.

The proposal, after approval from economic ministers from both sides, was submitted to this year's "10+1" meeting for discussion, he said.

"We are glad to see that leaders from both China and the ASEAN ratified this proposal at this meeting, agreed unanimously to set up the goal of establishing a China-ASEAN free trade area within the next 10 years, and authorized ministers and high-ranking officials of their respective countries to start the talks as soon as possible," he said.