Over the years, Asian countries, due to greater competition and
economic globalization, have made great strides in economic and
social development by carrying out economic restructuring, opening
up wider and promoting regional co-operation.
For instance, ASEAN countries and China have established
preferential trade relations in terms of reducing tariffs. As a
result, 7,000 types of goods have enjoyed low or zero tariffs. For
ASEAN countries, members also decided to achieve the aim of zero
tariffs in 2007 and 2012 respectively for 11 goods including
automobiles and textiles. Besides, Japan has concluded a free trade
agreement (FTA) with Malaysia.
Negotiations on FTA between ASEAN and South Korea, Australia,
New Zealand and India are also in the works.
On December 14 last year, the first East Asia Summit was held,
which was the first step in shaping an intended East Asian
community. The East Asia Summit signaled the birth of a community
composed of some of the most dynamic economies in the world. Member
economies account for almost half of the world's population and
about a fifth of all world trade.
In addition, the semi-regional economic co-operations continue
to progress. From that, a summit on Indonesia, Malaysia and
Thailand was held.
Countries looping the Bangladesh Bay were attempting to push
forward co-operations in building the semi-regional FTA.
The Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN
Growth Area (BIMP-EAGA) was formed with the goal of increasing
trade, investments and tourism in the region.
On the other hand, Asian countries have their share of problems
in regional economic co-operation; outside of ASEAN there is hardly
a community, for lack of mutual values, aspirations and common
identity.
The group is large and diverse, including countries of rich and
poor, large and small. The differences are also manifested in level
of political development and political system, and tensions within
the membership. Thus, it will be difficult for the EAS to become an
EU-type grouping in a short time.
In the past 27 years since China embarked on the reform and
opening-up program, its economy has been growing rapidly at an
average annual rate of 9.4 percent. China is the most dynamic
performer in international trade, the third-largest trader, and the
world's most populous country. As such, it has a major stake in
regional economic co-operation.
China cannot develop itself in isolation from the rest of the
world, and especially not in alienation with other Asian countries.
Thanks to pursuing a policy of "building good relations and
partnership with neighbors," China enjoys close relations with its
neighbors. This has laid a solid political and economic foundation
for enhancing its co-operation with other Asian countries.
China is committed to Asian cooperation in the interest of
fostering a harmonious, secure and prosperous neighborly
environment.
China hopes that such co-operation will promote regional peace
and prosperity and create a friendly international environment that
will facilitate its development endeavor. China is proud to be a
good neighbor, good friend and good partner of other Asian
countries.
(China Daily March 27, 2006)
