China-ASEAN FTA Starts Negotiation

China and ASEAN(Association of Southeast Asian nations) carried out first working conference in order to inaugurate Free Trade Area (FTA) in Beijing on 14th .

ASEAN and China had agreed for establishment of FTA that is building comprehensive market of 1,700 million populations in 10 years, in last November.

Vice-director of Chinese foreign trade and economy joint dept, Lung Yung tu, said, “ official opening of negotiations for establishing FTA of China-ASEAN is to make its first historical step towards cooperation of the two”.

This FTA has the biggest scale among less developed nations, therefore GDP is expected to be 2 trillion dollars and annual trade money will reach 1 trillion and 2 billion dollars, stated vice-Director Lung.

This working conference that is going to progress for three days is also one of the high ranking economic official`s conferences of China-ASEAN.