“China and ASEAN are important neighbours to each other. The establishment of the China-ASEAN Free Trade Area (CAFTA) represents the establishment of the largest free trade area in the two hemispheres.

“In January 2010, CAFTA was officially and fully established, opening the door to China-ASEAN economic and trade cooperation and ushering in a new phase,” he said at the opening of the events here today.

He said that since the establishment of CAFTA, significant achievements had been made and rapid development had been recorded, including improvements in the quality of bilateral trade.

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He said China had remained ASEAN’s largest trading partner for 15 consecutive years, while ASEAN had remained China’s largest trading partner for four consecutive years, with bilateral trade reaching US$911.7 billion in 2023, an increase of 16.8 times compared with 2002.

Ding also said ASEAN had become an important destination for Chinese companies’ overseas investment, while China supplied high-quality goods and services to ASEAN countries, thereby accelerating economic integration in the region.

“Positive progress has been made in infrastructure development, while people’s livelihoods have continued to improve. Economic and trade cooperation has created many job opportunities and increased people’s incomes,” he said.

He added that both sides should work together to advance the development of CAFTA 3.0, explore the potential of economic and trade cooperation, strengthen regional economic integration, and promote prosperity and development in the region and the world.

Ding also proposed that China and ASEAN strengthen cooperation in the digital and green economies, enhance connectivity and deepen cooperation in the agriculture, industrial and services sectors.

CAEXPO 2026 is being held from today until Sept 21, while CABIS will take place until Sept 19.

— BERNAMA