China and ASEAN signed the China – ASEAN Free Trade Area “investment agreement”
 
Core Tip: August 15, the eighth time in China – the ASEAN Economic Ministers held in Bangkok, Thailand, the Ministry of Commerce Minister Chen Deming and the 10 ASEAN countries signed economic and trade minister of China – ASEAN Free Trade Area “investment agreement.” It is learned that the China – ASEAN free trade zone will be fully completed in 2010.

August 15, in Bangkok, Thailand, the Chinese Commerce Minister Chen Deming (third from left) with the Thai Minister of Commerce, a punta Tijuana after the handshake at the signing event. On that day, the eighth time in China – ASEAN trade ministers meet in Bangkok. China and ASEAN signed the China – ASEAN Free Trade Area “investment agreement.” This marks the successful completion of the two sides of China – ASEAN Free Trade Area of the main negotiations on the agreement, China – ASEAN free trade zone will be fully completed on schedule in 2010.

By August 15 the Ministry of Commerce Web site, according to Xinhua news, August 15th, eighth in China – the ASEAN Economic Ministers held in Bangkok, Thailand, the Ministry of Commerce Minister Chen Deming and the 10 ASEAN countries signed economic and trade minister of China – ASEAN FTA “investment agreement.”

According to reports, the signing of the agreement sent to the outside world a clear signal that China and ASEAN countries would like to help each other and work together against financial crisis, continue to promote trade and investment liberalization and opposed protectionism in trade and investment for the East Asian region and the global economy the recovery and make a significant contribution to development.

At present, the spread of the global financial crisis, trade and investment protectionism in the global warming significantly. How to deal with the crisis, and how to adhere to free trade, the development direction of the international trading system, continue to promote trade and investment liberalization and facilitation, to resist protectionism, governments facing two major tasks.

“Investment Agreement”, including the provisions of 27. The agreement to investors through mutual national treatment, MFN and fair and equitable treatment of investment, investment-related laws and regulations to improve transparency for both investors and create a free, convenient, transparent and fair investment environment and investors on both sides provide adequate legal protection in order to further promote bilateral investment facilitation and liberalization gradually.

In recent years, with China – ASEAN free trade zone to speed up the pace of China and ASEAN continue to expand mutual investment. As of the end of 2008, ASEAN’s actual investment in China 52 billion U.S. dollars, accounting for I 6.08% attracting foreign investment. At the same time, China’s active implementation of “going out” strategy of investment in ASEAN also rapid growth. I am in 2008 direct investment in ASEAN reached 2.18 billion U.S. dollars, an increase of 125 percent, more and more Chinese enterprises to invest in ASEAN countries as a major destination. With the “investment agreement” signed and implemented, China and between ASEAN investment and trade and economic relations will enter a new stage of development.

China – ASEAN free trade area is to discuss China’s first free trade area, ASEAN as a whole is the first external discussion of free trade zone. China and ASEAN in 2002 launched negotiations on free trade area in 2003, the “Early Harvest Scheme” implemented in 2004 signed the “Agreement for Trade in Goods”, in 2007 signed the “Agreement on Trade in Services.” “Investment agreement” signed by both sides marked the successful completion of the China – ASEAN Free Trade Area of the main negotiations on the agreement, China – ASEAN free trade zone will be fully completed in 2010.