Wang Yi Highlights Key Milestones in China-ASEAN Cooperation
Vientiane, The Gulf Observer: Chinese Foreign Minister Wang Yi lauded the remarkable achievements in the cooperation between China and the Association of Southeast Asian Nations (ASEAN) during the ASEAN-China Foreign Ministers’ Meeting held in Vientiane on Friday.
Wang, who is also a member of the Political Bureau of the Communist Party of China Central Committee, emphasized the longstanding and growing trade relationship between China and ASEAN. “China has been ASEAN’s largest trading partner for 15 consecutive years, while ASEAN has been China’s biggest trading partner for the last four years,” he noted, highlighting a 10.5 percent year-on-year increase in two-way trade during the first half of this year.
He also pointed out a significant rise in investments, with China’s investment in ASEAN increasing by 44.6 percent in 2023, bringing the accumulated two-way investment to over $380 billion.
In discussing the recovery of people-to-people and cultural exchanges post-COVID-19, Wang highlighted that direct flights between China and ASEAN countries now exceed 2,300 per week, reaching nearly 70 percent of pre-pandemic levels.
Wang underscored the importance of enhanced connectivity, citing key projects like the China-Laos Railway and the Jakarta-Bandung High-Speed Railway. These initiatives have been instrumental in promoting the integration of industrial and supply chains across the region.
Additionally, Wang noted that ASEAN has become the most concentrated area for overseas investment from Chinese automotive companies, with Chinese brands accounting for 67 percent of new energy vehicles sold in ASEAN.
He also highlighted the expanding cooperation in clean energy, which is playing a crucial role in the region’s energy transition.
The achievements outlined by Wang Yi underscore the deepening ties and expanding collaboration between China and ASEAN, reflecting a robust and mutually beneficial partnership poised for continued growth.
