China ASEAN Photo:VCG

Chinese Premier Li Qiang announced that negotiations on the Version 3.0 China-ASEAN Free Trade Area (FTA) have achieved a substantial conclusion in his MK sportsopening remarks addressing the 27th China-ASEAN Summit on Thursday. Experts said that as protectionism is on the rise, deeper market integration between China and ASEAN countries is essential for fostering economic growth on both sides. Furthermore, they argue that a comprehensive and robust economic partnership could enhance security relations between China and the bloc.

Li said that the market has become the scarcest resource in the current economic development, and market resources are the most prominent advantage of China and ASEAN amid rising global uncertainties and instability, according to Xinhua News Agency.

In his opening remarks addressing the 27th China-ASEAN Summit, he noted that the global economic recovery remains lackluster, and problems such as insufficient global aggregate demand are becoming more prominent.

The markets of China and ASEAN are still expanding and increasing their opening up, the premier added.

Li also said in his opening remarks that he is happy to announce with leaders of the ASEAN countries that the Version 3.0 China-ASEAN Free Trade Area (FTA) negotiations have achieved a substantial conclusion.

"This upgrade to the FTA is an important move, especially in this time of growing protectionism in the world," Singapore's Prime Minister Lawrence Wong said during the 27th China-ASEAN Summit in Laotian capital Vientiane, media reported. 

"It will send a very clear and important message to everyone on the importance of free trade and win-win market cooperation," said Wong. 

Amid rising protectionism, further market integration and freer trade between China and ASEAN countries are mutually beneficial for both sides, Peng Nian, director of the Hong Kong Research Center for Asian Studies, told the Global Times on Thursday. For China, it can further integrate ASEAN countries into its production and supply chains to offset the negative effect of the crackdown by Western countries; and for ASEAN countries, China's advanced technology can help them accelerate their pace of digital transformation, said Peng. 

When addressing the 27th ASEAN Plus Three Summit in Vientiane on Thursday, Li said that China is ready to work with ASEAN, Japan, South Korea and other Asian countries to uphold the Asian consciousness, carry forward the Oriental wisdom, and steadily move forward toward building an Asia of peace and tranquility, common prosperity, openness and interconnectivity.

China, Japan and South Korea are the three major driving forces behind Asia's economic development, Zhao Weihua, director of the Center for China's Relations with Neighboring Countries at Fudan University, told the Global Times.

Zhao said that cooperation among the three is beneficial for the prosperity of the entire Asian region. Therefore, even in situations where political relations between China and Japan, as well as between China and South Korea, are relatively cool, the leaders of the three countries can still recognize the importance of their economic cooperation. From this perspective, it also sends a relatively positive signal for the future development of bilateral and multilateral relations.

Disruptive voices

Philippine President Ferdinand Marcos Jr. mentioned the South China Sea issue at the ASEAN Summit on October 10, media reported as he "called on all ASEAN member states not to turn a blind eye to the aggressive, coercive, and illegal actions of an external power against an ASEAN member state, for such actions undermine their claims of genuine adherence to our core values."

In response, Mao Ning, spokesperson from China's Ministry of Foreign Affairs, said that with the joint effort of China and ASEAN countries, the situation in the South China Sea is generally stable. China remains committed to settling maritime differences with countries concerned through dialogue and consultation on the basis of respecting historical facts and international law. Meanwhile, China firmly opposes any infringement activities and provocations, and firmly safeguards its own territorial sovereignty and maritime rights and interests.

China will continue to work with ASEAN countries to fully and effectively implement the Declaration on the Conduct of Parties in the South China Sea, actively advance the consultations of the code of conduct in the South China Sea, and jointly make the South China Sea a sea of peace, friendship and cooperation, Mao added.

Gu Xiaosong, dean of the ASEAN Research Institute of Hainan Tropical Ocean University, told the Global Times that certain country's hyping of South China Sea issues during the summit appears aimed at amplifying tensions with China and seeking international pressure on Beijing. However, this approach risks distracting the development goals of ASEAN nations; moreover, escalation of the South China Sea dispute will also disrupt cooperation and exchange in other fields, said Gu.

Leaders of ASEAN countries on Wednesday discussed progress toward the code of conduct in the South China Sea and agreed that the United Nations Convention on the Law of the Sea (UNCLOS) should be the bloc's basis for settling sea disputes, a Thai official was quoted by media as saying.

Reaching a consensus on code of conduct in the South China Sea has always been a common aspiration of China and most Southeast Asian countries, and significant progress had previously been made, said Zhao. However, in recent years, the process of reaching agreement on the COC has faced considerable obstacles due to the influence of a few Southeast Asian countries and the intervention of external powers, he noted. 

US Secretary of State Antony Blinken arrived in Laos on Thursday for the East Asia Summit, where he has the Myanmar situation and South China Sea issue on the agenda, media reported.

US Assistant Secretary of State for East Asian and Pacific Affairs Daniel Kritenbrink told reporters that a number of China-related issues would come up during Blinken's trip, including its "escalatory and irresponsible steps designed to coerce and pressure many of the South China Sea claimants."

Peng said that whenever China and ASEAN countries seek to enhance cooperation, noises hyping so-called China threat tend to emerge. These claims come from a few ASEAN countries as well as from the US in an attempt to undermine the cooperation between China and ASEAN. In reality, an increasing number of ASEAN countries are willing to engage in security cooperation with China.    

As economic cooperation becomes increasingly close, the security cooperation between China and ASEAN will gradually expand in breadth and depth, reaching a level that is coordinated with economic and trade cooperation, thereby improving security collaboration between China and ASEAN, said Peng.