At the conference (Source: VNA)

Beijing (VNA) - A roundtable conference on ASEAN-China trade cooperation took place in Beijing, China on May 31, aiming to implementing common perceptions reached between the two sides during the Belt and Road Forum for International Cooperation in April 2019.

It is hoped to further promote trade cooperation between China and ASEAN to jointly deal with unstable factors in the world.

Speaking at the event, Chairman of Trade Council of China Xu Ningning said by the end of the first quarter of 2019, the trade turnover between China and ASEAN reached 137.1 billion USD, and ASEAN becomes China's second largest trading partner.

Hua said as of the end of 2018, the total bilateral investment hit 205.7 billion USD, representing a 22-fold increase after 15 years.

In the context of the rising US-China trade tension, Chinese businesses will expand investment to ASEAN countries, he noted.

More than 20 leaders of China's national trade associations held dialogues and consultations with trade counselors of ASEAN countries in China, during which they analyzed and discussed ways to promote investment and trade cooperation between China and ASEAN.

A memorandum of understanding on new cooperation in business lines between the two sides was signed at the event, aimed to help their enterprises to seek new cooperation business opportunities.

Trade counsellors of Vietnam, Laos, Thailand, the Philippines, and Myanmar introduced economic development, development demand, investment environment, and trade opportunities in their countries to participants.

Participants believed that ASEAN-China business cooperation would facilitate Chinese enterprises’ investment in ASEAN countries.-VNA