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China-ASEAN Industry Co-op Conference oncoming in Kunming

Source:   Time:

The China-ASEAN Industry Cooperation Conference will kick off in Kunming tomorrow, reporters learn today from the press conference of the meeting. The theme for the meeting will be "China and ASEAN countries meet in Kunming to promote industry-docking win-win cooperation".

Delegates from Chinese and ASEAN governments, China and ASEAN Chamber of Commerce, ASEAN’s embassies in China will attend the conference. They are expected to mainly from textile, clothing, logistics, manufacturing industries.

Trade between Kunming and ASEAN has increased sharply in recent years. Trade volume remained at 24.2%, increasing in 2009 despite the global economic crisis. The figure reached $1.2 billion in the first seven months of this year, up 60% year on year.

Yunnan is taking efforts to promote construction of “bridgehead” towards southwest opening up. Trail operation of Yunnan Cross-border RMB Settlement Center has be launched since July 27 this year, and the capital city Kunming will be build into a regional financial center for cross-border trades. The meeting will be a specific practice for building Yunnan into China’s “bridgehead” towards southwest opening up.

The ASEAN–China Free Trade Area (ACFTA), also known as the China–ASEAN Free Trade Area is a free trade area among the ten member states of the Association of Southeast Asian Nations (ASEAN) and the People's Republic of China. The initial framework agreement was signed on 4 November 2002 in Phnom Penh, Cambodia, with the intent on establishing a free trade area among the eleven nations by 2010. The free trade area came into effect on 1 January 2010. The ASEAN–China Free Trade Area is the largest free trade area in terms of population and third largest in terms of nominal GDP.

It has played a very important role in the region’s economy since it was established on Jan 1, 2010, and now it has become the world's third-largest economy after the European Economic Area and the North American Free Trade Area.

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