Sunday, February 22, 2009

Sino-ASEAN free-trade area to be set up by 2010

Sino-ASEAN two-way trade turnover reached US $202.6 billion in 2007, up by 26 per cent over 2006, according to a release from a top-level Sino-ASEAN conference on trade and investment recently held in Beijing.

The figure exceeds the target of US $200 billion set for 2010.

According to the Chinese Deputy Secretary General of the Sino-ASEAN Trade Council, the success shows the large potential of two-way trade between China and ASEAN and the desire for cooperation of businesses of the two sides.

The two parties agreed on a series of policies and measures to boost cooperation in the forthcoming years.

Officials from China and ASEAN also have agreed to establish a Sino-ASEAN free-trade area by 2010. (TBKT)

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