China increases preferential credit to ASEAN by five billion US dollars

[Commonground]

Hua Hin (Thailand), Oct. 24: China on Saturday announced that it would raise the preferential part of the commercial credit it offers to Southeast Asian nations by five billion U.S. dollars. <script type="text/javascript"><!-- google_ad_client = 'pub-9743520551274558'; google_ad_width = 250; google_ad_height = 250; google_ad_format = '250x250_as'; google_ad_type = 'text'; google_color_border = 'FFFFFF'; google_color_bg = 'FFFFFF'; google_color_link = '000000'; google_color_url = '999999'; google_color_text = '000000'; google_ad_channel = '4898485360'; //--></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script>


Chinese Premier Wen Jiabao announced at a summit with ASEAN dialogue partners that the perferential part of the 15-billion-U.S.-dollar credit would increase to 6.7 billion U.S. dollars.

"We made the offer to demonstrate our support for China-ASEAN cooperation in infrastructure construction," Xinhua quoted him, as saying.

China had unveiled the plan to offer 15 billion U.S. dollars of commercial credit to the ASEAN countries in April. The credit is to be provided in the next three to five years.

To demonstrate its close ties with ASEAN, China also rolled out a plan to setup a China-ASEAN investment cooperation fund of 10 billion U.S. dollars to promote cooperation on infrastructure construction, energy and resources, information and communications.

Jiabao said at the summit Saturday that the first one billion U.S. dollars of the fund was close to being in place.

According to the agency, he also made a number of other proposals to advance cooperation with the ASEAN in fields such as the economy, finance, trade, environment, rural development and regional cooperation.


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[Commonground]

Re: China increases preferential credit to ASEAN by five billion US dollars

China makes six-point proposal for cooperation with ASEAN

Submitted by admin3 on 24 October 2009 - 10:09pm.

• International

By IANS,
Hua Hin (Thailand): Chinese Prime Minster Wen Jiabao made a six-point proposal for strengthening cooperation with the Association of Southeast Asian Nations (ASEAN) during his address at the bloc's summit here Saturday.
Wen said the financial situation in China and ASEAN countries remained stable despite the global economic crisis, and trade between the two sides have entered "a stage of restorative growth", Xinhua reported.
He proposed six steps to enhance cooperation between the two sides: create China-ASEAN Free Trade Area, accelerate infrastructure development, deepen agricultural cooperation, promote sustainable development, strengthen cultural exchanges and advance regional cooperation at various levels.
He also called for protection of intellectual property rights and removal of technical trade barriers.
Wen said Beijing plans to hold a China-ASEAN Free Trade Area forum next year.
He said the two sides should actively promote projects that would help raise grain production in the ASEAN region.
Both sides should make efforts to adopt the China-ASEAN Environmental Cooperation Strategy at the earliest possible date, so as to expand cooperation in the field of renewable energy, among others, he added.



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