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Seven areas of improvement needed for PBG co-op

Updated: 2011-08-19 15:26

By Nie Peng (chinadaily.com.cn)

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Nanning -- Pan-Beibu Gulf countries should focus on seven priority areas to improve economic cooperation, according to a report released Friday morning at the closing ceremony of the Sixth Pan-Beibu Economic Cooperation Forum.

"The report concludes that PBG economic cooperation is feasible…and will deepen and expand bilateral economic and trade cooperation between China and ASEAN countries," said Chen Zhou, Director of the Asian Affairs Department of the Ministry of Commerce.

Chen announced the key findings from the Feasibility Study Report on Pan-Beibu Gulf Economic Cooperation during the ceremony.

The report suggests seven priority areas for improved economic cooperation: infrastructure construction, ports and logistics, trade and investment facilitation, agriculture, tourism, environmental protection, and bio-diversity and industrial cooperation.

Commitment to the sectors will boost sub-regional cooperation and speed up the integration of the China-ASEAN Free Trade Area.

The report took three years to complete and was initiated in October 2006 by,Chinese Premier Wen Jiabao's proposal to "actively explore the feasibility of PBG economic cooperation, and make sub-regional cooperation a new focal point in China-ASEAN economic and trade cooperation."

Ministers welcomed the Feasibility Report during the 10th session of the China-ASEAN (10+1) Economic Ministers' Meeting held on August 12. The report will be submitted to the China-ASEAN Summit for deliberation this coming November.

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