Chinese Commerce Minister Gao Hucheng said here Sunday that both China and ASEAN have agreed to strive to bring to an end their negotiation on an upgraded version of the China-ASEAN Free Trade Area (FTA) before the end of this year. “Progress has been made in comprehensive and in-depth consultation on goods and services trade, investment and economic and technological cooperation during the past three rounds of negotiation since it began one year ago,” Gao said shortly after a China-ASEAN (10+1) economic ministers’ meeting here, reports Xinhua. The decision by leaders of China and ASEAN member states to negotiate for an upgraded version of the FTA is made to meet the demand for restructuring and upgrading their respective economies and is also a new move to further enhance the China-ASEAN strategic cooperative relationship, the Chinese minister told Xinhua. Economic ministers from ASEAN, or the Association of Southeast Asian Nations, began their series meetings here Saturday to put the finishing touches to the establishment of the ASEAN Economic Community (AEC) by the end of this year, while pushing closer ties with its leading trading partners including China.
