Beijing, Feb 19: China has pledged to abide by its commitments to set up the ambitious China-ASEAN (Association of Southeast Asian Nations) Free Trade Zone (FTZ) to promote the economic development of ASEAN countries and prosperity in the region. The commitment was made by Chinese Premier Zhu Rongji here yesterday during a meeting with visiting Thai Prime Minister Thaksin Shinawatra, reported a newspaper. Zhu said the initiation of the process of setting up the Free Trade Zone between China and ASEAN has great significance, noting that China hoped Thailand would continue to play a positive role in the construction of the zone. Zhu signed the framework agreement on ASEAN-China comprehensive economic co-operation with ASEAN leaders in Phnom Penh, the capital of Cambodia, last November. The agreement is set to create a FTZ encompassing 1.7 billion people of growing purchasing power and to generate a regional gross domestic product of about 2 trillion dollars a year - the largest market of its kind in the world.

Zhu also expressed the Chinese Government's gratitude for the efforts made by Thailand to promote the co-operation between China and ASEAN.
Bureau Report