China seeks $1tr trade with ASEAN by 2020

Xi Jinping Indonesia
China’s President Xi Jinping (left) and Indonesia’s President Susilo Bambang Yudhoyono

China’s President Xi Jinping, who on October 3 became the first foreign leader to address the Indonesian parliament, pledged more investment initiatives to bolster ties with ASEAN, seeking a $1 trillion trade goal by 2020 with the region at a time when US President Barack Obama had to call off his ASEAN visits due to the mess at home.

Xi said China was ready to enhance political and strategic trust with ASEAN members and reinforce China’s role as a major regional trading and investment partner despite the territorial conflicts in the South China Sea.

Xi also restated the proposal to establish a regional infrastructure investment bank, an initiative he raised during a visit to the region in March 2013.

Professor Zhang Mingliang, a specialist in Southeast Asian affairs at Jinan University, said Xi’s speech was symbolic as it underlined China’s significance in the region.”Even if [US President Barack] Obama were to be invited to give a speech to the parliament, he would be the second one to do so, not the first one,” he said.

Indonesia has played an active role in raising disputes with China through the ASEAN platform and it has dismissed as illegal the “nine-dash line” Beijing has drawn around most of the South China Sea to mark its territorial claims.

As the region’s biggest economy and population, Indonesia has also served as an intermediary on important issues.

Xi made no direct reference to the South China Sea in his address. Instead, he said China and “certain Southeast Asian countries” must use peaceful methods and friendly talks to address disagreements over territorial sovereignty and maritime rights.



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[caption id="attachment_16187" align="alignleft" width="300"] China's President Xi Jinping (left) and Indonesia's President Susilo Bambang Yudhoyono[/caption] China's President Xi Jinping, who on October 3 became the first foreign leader to address the Indonesian parliament, pledged more investment initiatives to bolster ties with ASEAN, seeking a $1 trillion trade goal by 2020 with the region at a time when US President Barack Obama had to call off his ASEAN visits due to the mess at home. Xi said China was ready to enhance political and strategic trust with ASEAN members and reinforce China's role as a major regional trading and investment partner...

Xi Jinping Indonesia
China’s President Xi Jinping (left) and Indonesia’s President Susilo Bambang Yudhoyono

China’s President Xi Jinping, who on October 3 became the first foreign leader to address the Indonesian parliament, pledged more investment initiatives to bolster ties with ASEAN, seeking a $1 trillion trade goal by 2020 with the region at a time when US President Barack Obama had to call off his ASEAN visits due to the mess at home.

Xi said China was ready to enhance political and strategic trust with ASEAN members and reinforce China’s role as a major regional trading and investment partner despite the territorial conflicts in the South China Sea.

Xi also restated the proposal to establish a regional infrastructure investment bank, an initiative he raised during a visit to the region in March 2013.

Professor Zhang Mingliang, a specialist in Southeast Asian affairs at Jinan University, said Xi’s speech was symbolic as it underlined China’s significance in the region.”Even if [US President Barack] Obama were to be invited to give a speech to the parliament, he would be the second one to do so, not the first one,” he said.

Indonesia has played an active role in raising disputes with China through the ASEAN platform and it has dismissed as illegal the “nine-dash line” Beijing has drawn around most of the South China Sea to mark its territorial claims.

As the region’s biggest economy and population, Indonesia has also served as an intermediary on important issues.

Xi made no direct reference to the South China Sea in his address. Instead, he said China and “certain Southeast Asian countries” must use peaceful methods and friendly talks to address disagreements over territorial sovereignty and maritime rights.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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