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China-ASEAN trade to hit US$1tr by 2020

China-ASEAN trade to hit US$1tr by 2020


The total trade volume of Association of Southeast Asian Nations (ASEAN) with China is projected to increase to US$1tr (S$1.4tr) by 2020, said AKP Mochtan, deputy secretarygeneral of ASEAN for Community and Corporate Affairs.

The seminar on ASEAN Community Building and China-ASEAN Relations, aimed at boosting Sino-ASEAN relations, took place during the Belt and Road Forum for International Cooperation. As the sixth-largest economy in the world, ASEAN is now finalising regional comprehensive economy partnerships with six free trade area counterparts — China, Japan, Korea, Australia, New Zealand and India.

This would add up to over half of the world’s population, and in turn, bring huge opportunities, he added.