10-billion USD ASEAN-China fund proposed
China has proposed the establishment of
a 10-billion USD fund to foster China-ASEAN trade and investment ties
and support regional countries’ efforts to cope with future economic
crises or difficulties.
China has proposed the establishment of
a 10-billion USD fund to foster China-ASEAN trade and investment ties
and support regional countries’ efforts to cope with future economic
crises or difficulties.
The planned fund will provide capital for infrastructure and logistic system development projects within the region, Thai Deputy Commerce Minister Alongkorn Polbutr said after the signing of the ASEAN-China Investment Agreement at the 41st ASEAN Economic Ministers’ Meeting in Bangkok , Thailand , on August 15.
In addition, China pledged to allocate soft loans worth up to 15 billion USD to help ASEAN countries develop trade mechanisms and improve transport and telecom systems
A railway route that connects China ’s southern Kunming city with Vietnam, Laos, Thailand, Malaysia and Singapore is expected to benefit from these capital sources.
Alongkorn said China ’s proposal will be tabled for discussion at the ASEAN summit meeting scheduled to take place in Thailand ’s Cha Am-Hua Hin in October.
With the signing of the investment agreement, ASEAN-China trade value is expected to rise to 50 billion USD in 2010 from the current 36 billion USD.
The Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore , Thailand and Vietnam./.
The planned fund will provide capital for infrastructure and logistic system development projects within the region, Thai Deputy Commerce Minister Alongkorn Polbutr said after the signing of the ASEAN-China Investment Agreement at the 41st ASEAN Economic Ministers’ Meeting in Bangkok , Thailand , on August 15.
In addition, China pledged to allocate soft loans worth up to 15 billion USD to help ASEAN countries develop trade mechanisms and improve transport and telecom systems
A railway route that connects China ’s southern Kunming city with Vietnam, Laos, Thailand, Malaysia and Singapore is expected to benefit from these capital sources.
Alongkorn said China ’s proposal will be tabled for discussion at the ASEAN summit meeting scheduled to take place in Thailand ’s Cha Am-Hua Hin in October.
With the signing of the investment agreement, ASEAN-China trade value is expected to rise to 50 billion USD in 2010 from the current 36 billion USD.
The Association of Southeast Asian Nations (ASEAN) comprises Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore , Thailand and Vietnam./.
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