Regional cooperation framework mapped out
By Quan Lin (China Daily)
Updated: 2006-10-30 09:16
The Nanning-Singapore Economic Corridor is aimed at promoting economic
co-operation along roads linking ASEAN members, according to Liu.
In
addition, the corridor is also conducive to Guangxi strengthening its economic
and trade ties with the Pan-Pearl River Delta region, according to
Liu.
Liu proposed roads and railways running through Nanning, Hanoi,
Phnom Penh, Bangkok, Kuala Lumpur and Singapore be constructed soon, to help
promote economic development along the corridor.
"It also aims at better
promoting road economic development by developing industrial clusters, logistics
and specified markets along the corridor," Liu said.
According to Liu's
proposal, efforts should also be stepped up to deepen economic and trade ties in
the Great Mekong River sub-Region.
"The M-shaped framework is expected to
strengthen economic and trade ties between China and countries in the Great
Mekong River Sub-region, and it helps more Chinese enterprises in the east,
which is seen as a more developed economy than the west, better integrate into
and expand their businesses in the region," Liu said.
Liu suggested more
enterprises from Chinese inland provinces and regions invest in the Great Mekong
River Sub-region.
According to Liu, the M-shaped initiative is of
importance to the overall development of China's coastal areas.
"If the
great potential is realized, the gulf area can become China's fourth economic
powerhouse along its coastal regions," Liu said.
Contributing more than
60 per cent of the country's economy, the Pearl River Delta in South China, the
Yangtze River Delta in East China and North China's Bohai Sea Rim area have
already become China's three economic engines fuelling growth.
"It's a
landmark event aimed at promoting the construction of the China-ASEAN Free Trade
Area," Liu said.
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 in 2010.
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