Hope for stronger ASEAN trade links (2)

"A closer economic relationship and more comprehensive trading cooperation will promote political relations of mutual trust between China and ASEAN," Xu said.

Founded in 2001, the council is one of the five main cooperation mechanisms between China and ASEAN.

At the East Asian summit in Phnom Penh, Cambodia, last week, ASEAN members, together with China and five other Asia-Pacific countries, announced the launch of talks on what could be the world's largest regional free trade deal.

China has announced its active support for the proposed Regional Comprehensive Economic Partnership.

Guan Dengming, China's former ambassador to the Philippines, said that bilateral interests in terms of trade cooperation are much bigger than the effects of territorial disputes.

"The cooperative development between China and ASEAN would not be affected by the dispute," he said.

In 2011, China-ASEAN trade reached $362.85 billion, an increase of 23.9 percent year-on-year.

By 2015, bilateral trade is set to reach $500 billion. According to the council, Chinese enterprises had invested $18.5 billion in ASEAN countries by the end of October of this year.

baochang@chinadaily.com.cn

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