Source Pravda.Ru

China and ASEAN to build free trade area

China and &to=http:// english.pravda.ru/diplomatic/2002/12/02/40224.html ' target=_blank>ASEAN started their process for building a free trade area with the signing of the "Agreement on Trading in Goods of the Framework Agreement on Comprehensive Economic Cooperation between ASEAN and China."

Witnessed by Chinese Premier Wen Jiabao and leaders of the 10-member ASEAN (Association of Southeast Asian Nations), Chinese Minister of Commerce Bo Xilai signed the agreement with 10 economic ministers of the ASEAN countries.

According to the agreement, starting from July 1, 2005, China and ASEAN countries will start their tariff-reducing process. The two sides will gradually reduce or cancel tariff on 7,000 kinds ofproducts, reports Xinhua News.

According to the USA Today, some analysts believe the agreement shows how an increasingly bold China is forging new alliances that would reduce, and possibly eventually challenge, America's influence in Asia.

"China is using its huge market as a bait to lure ASEAN countries away from U.S. and &to=http:// english.pravda.ru/world/2002/05/24/29250.html ' target=_blank>Japan and build closer relations," said Chao Chien-min, a China watcher and political science professor at Taiwan's National Chengchi University.

Comments
China wants Moscow to confront pressure from Washington together
It is about time Russia should exit Western project
Turkey invades Syria to Moscow's and Washington's silent consent
U.S. Humiliates South Korea, Threatens North Korea
Sanctioned and isolated, Russians take palm of global leadership away from Americans
Sanctioned and isolated, Russians take palm of global leadership away from Americans
Sanctioned and isolated, Russians take palm of global leadership away from Americans
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
U.S. Humiliates South Korea, Threatens North Korea
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
U.S. Humiliates South Korea, Threatens North Korea
It is about time Russia should exit Western project
Russia eyes opportunity to restore all Soviet bases that had to be abandoned after 1991
It is about time Russia should exit Western project
It is about time Russia should exit Western project
It is about time Russia should exit Western project
U.S. Humiliates South Korea, Threatens North Korea
It is about time Russia should exit Western project
Ukraine's Western allies point their guns at President Poroshenko