Xu Ningning, executive director of the China ASEAN Business Council, chief business expert of China ASEAN, and chairman of the RCEP Industrial Cooperation Committee, said on the 19th that the construction of the China ASEAN Free Trade Area version 3.0 is conducive to the joint response of the two sides to the current international situation and the continuous innovative development of the region.
The China ASEAN Free Trade Area (CAFTA) version 1.0 was completed in 2010. Zero tariff has covered more than 90% of the taxable products of both sides. The upgraded version 2.0 will be launched in 2019, and both sides will further open their markets. At the summit commemorating the 30th anniversary of the establishment of China ASEAN dialogue relations, Chinese leaders proposed to start the construction of the China ASEAN Free Trade Area Version 3.0. In this regard, Xu Ningning said that the proposal for the construction of the Free Trade Zone Version 3.0 is mainly based on the current needs and development direction of China ASEAN cooperation, highlighting the cooperative development of digital economy and green economy. Digital economy involves innovation and guidance, while green economy means sustainable development.
He said that development cannot be separated from stability. In the current global economic downturn and complex international political situation, it is extremely important for China and ASEAN to ensure regional stability, build security "firewalls" and enhance comprehensive strategic partnership. To consolidate and develop the China ASEAN comprehensive strategic partnership is of great significance to China and ASEAN countries, to regional development and stability, to the stability of the international situation and to global economic growth. Both sides need to attach great importance to it, strengthen goals and measures, focus on removing and breaking through constraints, adhere to the long-term good neighborly and friendly foreign policy, and uphold peace, development, autonomy The concept of inclusiveness and the basic principle of jointly building and sharing will work together.
Xu Ningning said that only by enhancing economic cooperation can we achieve effective development. Greater mutual opening of markets is a trend of development and an important measure of current economic cooperation and development. Its purpose is to benefit the industrial upgrading of countries and achieve economic growth. At present, the two sides should strengthen the docking and make the cooperation more practical and detailed. It is suggested that the two sides formulate cooperation guidance plans such as the Action Plan for the Cooperative Development of SMEs, the Action Plan for the Development of Digital Economy, and the Action Plan for the Development of Green Economy.
Xu Ningning said that to do a good job in the construction of the China ASEAN Free Trade Area (CAFTA) version 3.0, leaders of all countries need to reach a consensus, jointly implement the feasibility study, and negotiate on this basis. It is expected that the construction of version 3.0 will be actively promoted by both parties.
China and ASEAN have become each other's largest trading partners. From January to August this year, the trade volume between China and ASEAN increased by 13.3% year-on-year. Xu Ningning said that this figure shows that in the case of epidemic spread and problems in the global industrial chain, the bilateral economic and trade cooperation has forged ahead and overcome difficulties. The entry into force and implementation of the Regional Comprehensive Economic Partnership Agreement (RCEP) this year has also injected new impetus into regional development.