Chinese FM stresses new areas of growth in ASEAN-China cooperation

PHUKET, Thailand, July 22 (Xinhua) -- Chinese Foreign Minister Yang Jiechi underlined here Wednesday the importance of tapping new areas of economic growth so as to enhance cooperation between China and the Association of Southeast Asia Nations (ASEAN).

Yang noted that one area of development is to implement plans to enhance agricultural productivity by drawing on advanced technology and to accelerate the cooperation on new and renewable energies.

"We have maintained high-level exchanges, enhanced political mutual trust, shared development experience and strengthened confidence in cooperation," Yang said at the China-ASEAN Foreign Ministers' Meeting on Wednesday afternoon.

China and ASEAN have completed negotiations on the China-ASEAN Investment Agreement, paving the way for the full establishment of the China-ASEAN Free Trade Area (CAFTA) in 2010.

The ASEAN on Monday appreciated China's active role in developing transportation infrastructure between the two sides and welcomed the establishment of the 10 billion U.S. dollar fund for bilateral investment cooperation.

In April, Chinese Premier Wen Jiabao said that China has decided to set up a 10 billion U.S. dollar "China-ASEAN Fund on Investment Cooperation" to support infrastructural development in the region.