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China targets Beibu Gulf as next driver of development
By Fu Jing (China Daily)
Updated: 2006-07-21 09:22 "I agree that infrastructure should be the priority as the region's
development is not even," Rita Nangia, an Asia Development Bank official in
charge of major infrastructure investment, told China Daily.
She said
the expressway would become another planned link between China and ASEAN
members. Under the previous initiative called Co-operation in the Greater Mekong
Sub-region, under the China-ASEAN framework, an expressway linking Kunming in
Yunnan Province and Singapore was planned in 2004. The Mekong River runs through
China, Laos, Myanmar, Thailand, Cambodia and Viet Nam.
"Both links are
big projects consisting of parts of the Asian expressway network, and our goal
is to link Beijing and Singapore by road," said Nangia.
Sudrajat,
Indonesian ambassador to China, said the initiative could help deepen economic
ties between the two countries. He said coastal areas in China, including
Fujian, Guangdong, Guangxi and Hainan, are already major investment targets for
Indonesians, and the new development plan would expand economic and trade
activities between the two sides.
Cao Yushu, deputy director of the
Office of the Leading Group for Western Region Development of the State Council,
said the blueprint could help China's western regions reach markets in the Beibu
Gulf.
"It's a plan indicating China's increased commitment to opening up
to the world, especially through co-operative relations with the 10 ASEAN member
countries," said Cao. "It's a landmark event aimed at promoting the construction
of the China-ASEAN Free Trade Area."
With the establishment of the
strategic partnership, the two sides have made substantial progress in a variety
of fields, including trade.
In 2005, trade volume between China and
ASEAN member countries reached US$130.3 billion, increasing 23 per cent
year-on-year. The figure is expected to reach US$200 billion by
2010.
(For more biz stories, please visit Industry Updates)
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