China and ASEAN will be exempt from most tariffs
The establishment of free trade zones is an insurmountable stage in the process of economic integration and also a realistic need for the economic development of East Asian countries.China and ASEAN have reached consensus on free trade in goods. Japan and the ROK are discussing a free trade area with ASEAN. China, Japan and the ROK are also conducting joint academic research on a trilateral free trade arrangement.These developments have laid the foundation for the establishment of an East Asia FREE Trade Area.
-- Speech by Premier Wen Jiabao at the 8th ASEAN Plus China, Japan and the ROK Summit
Vientiane, Nov. 29 (Xinhua) -- The 8th ASEAN-China Leaders' Meeting (10+1) was held in Vientiane, capital of Laos on Nov. 29.Chinese Premier Wen Jiabao and leaders of 10 ASEAN countries attended the meeting.On the same day, the 8th ASEAN Plus Three summit (10+3) was held in Vientiane, capital of Laos.Chinese Premier Wen Jiabao attended the meeting with the leaders of the 10 ASEAN countries as well as Japan and the Republic of Korea.
China thanks ASEAN for its support
The meeting was hosted by Prime Minister Bennan Vorachit of Laos, which holds the rotating presidency of ASEAN.Wen Jiabao delivered a speech at the meeting.Wen said asean has announced that it will recognize China's full market economy status and abandon the three clauses that were created when China joined the WORLD Trade Organization.This is asean's valuable support for China and will give a strong boost to the development of the free trade area and economic and trade cooperation between the two sides. I would like to thank asean for this.
The meeting issued an action Plan to implement the Joint Declaration on China-Asean Strategic Partnership for Peace and Prosperity.After the meeting, the two sides signed the Agreement on Trade in Goods under the Framework Agreement on Comprehensive Economic Cooperation between China and ASEAN and the Agreement on China-asean Dispute Settlement Mechanism.Wen Jiabao and leaders of ASEAN countries attended the signing ceremony.
During the meeting, the two sides also signed a memorandum of understanding on transport cooperation between China and ASEAN.China and the five GMS countries signed the memorandum of Understanding on jointly promoting the construction of GMS Information Superhighway.
China, Japan and the ROK discussed the Korean nuclear issue
At the 8th ASEAN-China, Japan and ROK Leaders' Meeting, they exchanged views on ways and mechanisms of strengthening 10+3 cooperation and its future development direction, as well as regional and international political and economic affairs.Premier Wen Jiabao delivered a speech at the meeting.The leaders agreed to hold the first East Asia Summit in Malaysia in 2005.
Chinese Premier Wen Jiabao, Japanese Prime Minister Junichiro Koizumi and ROK President Roh Moo-hyun exchanged views on the Nuclear issue on the Korean Peninsula.Wen said it is in the interest of all parties and the common aspiration of the international community to continue to push forward the six-party Talks.China will continue to promote peace talks and work with the international community to hold a new round of talks at an early date.Koizumi and Roh Moo-hyun appreciated China's efforts to promote the peaceful settlement of the nuclear issue and hoped that the six-party Talks process would continue.The meeting adopted the Trilateral Action Strategy and the Progress Report on China-Japan-ROK cooperation.
Japan's prime minister says he will stop helping China
China is grateful for Japan's economic aid
Report from our correspondent Japanese Prime Minister Junichiro Koizumi said 28 days when answering a reporter to ask, "Japan to China ODA(economic aid) has arrived at the time of graduation", indicated that the preparation will be in the near future, completely stop the idea of China ODA.Chinese Vice Foreign Minister Wu Dawei also said on the same day that Japan's reduction of loans and assistance to China will not affect China-Japan relations.
Koizumi arrived in Vientiane, capital of Laos, by special plane on the night of 28, Japan time, to attend the ASEAN plus China, Japan and South Korea summit held there.In response to a reporter's question about The ODA, Koizumi replied: "The time has come for [ODA] to graduate.China's economy is developing smoothly now. I hope China will become a graduate of ODA at an early date."
Wu Dawei, who accompanied Wen to the ASEAN meeting in Laos, said the incident will not affect China-Japan relations because China's current economic situation is not the same as before."During The period of China's reform and development, Japan's lending assistance played an important role in the development of our economy, and the Chinese government and people are grateful.Now that China has made significant progress in its economic development, Japan has a question as to whether it still needs to provide loans to China, so we'll just let things slide."
On the sidelines of the ASEAN meeting, Chinese Foreign Minister Li Zhaoxing also addressed the issue that the Japanese government will gradually reduce or even cancel its economic assistance to China: "The Chinese people are a powerful force for China's economic development. We should rely on our own wisdom, determination and confidence to develop our economy."To avoid hurting the feelings of other countries that provide assistance to China, Li said China is still very willing to accept assistance from friendly developed countries, but has acquiesced to the Japanese government's proposed cuts.(Ren Min)
Asean recognizes China's market economy status
Only about 500 tariff items will be kept
China and ASEAN signed the China-asean Comprehensive Economic Cooperation Framework Agreement on Trade in Goods agreement in Vientiane, capital of Laos on September 29.In the agreement, ASEAN declared that all its members recognized China as a full market economy.
29, according to kyodo news agency reported that China and the association of southeast Asian nations (asean) 10 members since July next year to 2010, five years to phase out most of the bilateral trade tariffs, leaving about 500 trade projects under a tariff protection, the china-asean framework agreement on comprehensive economic cooperation agreement on trade in goods, such as free trade agreements to phase out most of the bilateral trade tariffs to make specific provisions.
An ASEAN official said that the free trade agreement signed on Friday will divide commodities into three categories, namely "conventional traded commodities", "sensitive commodities" and "highly sensitive commodities".Commodities not included in the list of "sensitive products" and "highly sensitive" items are routine trade items.From July 1 next year, governments will begin to slash bilateral tariffs on these conventional trade items and eliminate tariffs on all these products by 2010.China and each ASEAN country are only allowed to include a maximum of 400 items on the list of "sensitive products".Tariffs on these "sensitive products" will be cut gradually from 2012, with a 20 per cent cut that year, to between 0 and 5 per cent by 2018.Countries are allowed to keep up to 100 items as "highly sensitive products", but by 2015 tariffs on such items could not be higher than the current 50 per cent.
Rice, cars and some petrochemicals will be included in the list of "highly sensitive" trade items and will remain under tariff protection, but bilateral trade tariffs on these items will also be phased out, reducing by 50 per cent by 2015, according to the report.China will protect some steel products as "sensitive products", while ASEAN countries will add sugar and vegetable oils to the "highly sensitive" list.
Asean officials say the list of products to be eliminated will be released after the signing of the China-asean free Trade Agreement.
