Premier Zhu Rongji Attending the Summit between ASEAN and China, Japan and South Korea (10 + 3) and Issuing An Important Speech (Nov. 25, 2000)

On November 24, 2000, Premier Zhu Rongji attended the summit between the Association of South East Asian Nations (ASEAN) and China, Japan and South Korea (10 + 3) and issued an important speech.

It is an important summit at the turn of the century, participated by leaders of 13 East Asian countries. The leaders exchanged views on two topics, the future of East Asia and strengthening East Asian cooperation. The summit was held in a friendly atmosphere, has achieved many results and will play an important role in promoting the in-depth development of East Asia cooperation.

Premier Zhu stated China’s views on the current situation in East Asia and the future of East Asia cooperation and put forward concrete suggestions on strengthening cooperation.

Premier Zhu said that East Asia has continued its steady economic recovery this year. Many countries enjoy growth rates higher than expected. Political situation also witness positive progress. With joint efforts of the North and South of the Korean Peninsular, a historical breakthrough has been made in the Peninsular Peace Process. We sincerely welcome and support it. At the same time, elements of regional instability still exist. The gap between developing countries and developed ones in East Asia is expanding in economic, scientific and technological areas. With high oil prices in the international market, many countries are under new pressure amid their economic recovery. East Asian countries will continue to face the heavy task of maintaining national security and accelerating economic development in the time to come.

Premier Zhu said the Joint Statement on East Asia Cooperation issued by the previous “10+3” Informal Leadership Meeting is an important document in the East Asia cooperation process, which points out the direction and priority of the development of East Asia cooperation. In the past year, under the guidance of the Joint Statement on East Asia Cooperation, positive progress has been made in “10+3” cooperation in finance, human resources development, economic cooperation and trade. The meeting mechanism between the finance ministers, economic ministers and foreign ministers has been established. Moreover, East Asian countries have conducted cooperation in trade and commerce, enterprises, exchanges between young leaders, and other areas and put forward many initiatives and suggestions. Exchanges and cooperation through non-official channels are also developing.

He said that the results achieved through “10+3” cooperation fully testify to the fact that East Asia regional cooperation conforms to the needs and interests of different countries and the commitment and readiness of East Asian countries to strengthen cooperation and achieve common development. In the situation of economic globalization and the increasing development of regional economic groups, East Asian countries need to further expand cooperation within the region.

He said that East Asia has its own historical and realistic characteristics. East Asian countries are mostly developing ones, with a strong diversity and obvious gap in terms of development levels. East Asia cooperation should target development, respect diversity, and be conducted in a step-by-step manner. At the current stage, the Joint Statement on East Asia Cooperation should be implemented gradually. While pushing for financial cooperation, we should explore measures facilitating trade and investment so as to strengthen exchanges among the business community and promote free passage of information, goods and investment within the region. East Asian countries can exchange views on regional and international issues of common concern so as to strengthen coordination and enhance mutual understanding and trust.

As for the direction of East Asia cooperation, Premier Zhu said that the “10+3” mechanism should be developed into the main channel of East Asia regional cooperation so as to push for the step-by-step development of regional financial, trade and investment cooperation framework and greater integration of the regional economy. East Asia cooperation should follow the principle of openness. “10+3”, APEC, ASEM and other regional organizations and cooperation mechanisms complement each other. The Ultimate goal is common development in the region and the world.

Premier Zhu said that, to push for the constant progress of East Asian cooperation, ASEAN, China, Japan and the ROK should concentrate on the following 5 aspects:

I To increase input in the development of the Mekong River Basin. The development of the Mekong River Basin is conducive to reducing the gap of development among countries in the region. China supports strengthening transportation, telecommunications, energy and other infrastructure building and human resources development as a priority. China also hopes that Japan and the ROK could give play to their strengths in capital and technology and make contribution to the development and utilization of the Mekong River Basin.

II To attach great importance to the development and cooperation in the IT industry. China positively assesses and actively supports the E-ASEAN Framework Agreement issued by ASEAN, which is an important measure adopted by ASEAN to cater to the development of the hi-tech industry. China is ready to participate in “E-ASEAN”, accelerate the development of new generation high speed internet in East Asia, and greatly promote e-commerce. The Chinese side will strengthen coordination with Japan and the ROK in this regard.

III To step up the efforts in human resources development cooperation. Human resources development should be the basis and priority of East Asia cooperation. Good results have been achieved in personnel exchanges and training programs between China and ASEAN. The Chinese side will continue to increase its finance of the China-ASEAN cooperation fund, with emphasis on supporting human resources development programs. The Ministry of Science and Technology of China will launch “10+3” technical training starting from next year.

IV To earnestly implement the Chiang Mai Initiative. As supported by the Chinese side, the meetings of “10+3” Vice Finance Ministers and Central Bank Deputies have become regular mechanisms and have been upgraded to the ministerial level. China wishes to hold further consultations with Japan, the Republic of Korea and ASEAN countries with a view to reaching a common position on the practical measures for the implementation of the Initiative so that an East Asia bilateral currency swap network could be gradually established. As for the next step financial cooperation, the Chinese side also holds an open attitude and will continue to explore it within the “10+3” framework. It is without any doubt that what East Asia will do in this regard will be an integral part of the international efforts, and any financial arrangement that East Asia makes will be a supplement to the functions of IMF and other international financial institutions.

V To tap the potential of agricultural and tourism cooperation. East Asian countries are highly complementary to each other in
Agriculture. The Chinese side hopes that the 10 + 3 Agricultural and Forestry Ministers Meeting will be held as soon as possible. China will host an agricultural business forum, which will help jumpstart the East Asia agricultural cooperation. Tourism cooperation is an effective way to enhance mutual understanding among the East Asian countries. China has listed Japan, the Republic of Korea and all ASEAN countries as its tourism cooperation partners and all countries will mutually provide facilities and promote extensive personnel flow and exchanges among East Asian countries. This will serve to enhance our mutual understanding and trust.

Premier Zhu said that as a member of East Asia, China has maintained a good momentum of rapid economic development. We estimate that in 10 years, China’s economic aggregate will double. We are formulating the 10th Five-Year Plan. In 5 years, we will actively push for institutional renovation and scientific and technological innovation, accelerate strategic economic restructuring, push for an information-based national economy and society and implement the Grand Strategy of Western Development. China will push for an all-round modernization drive from a new starting point and in a greater scale. We will unswervingly open wider to the outside world. At present, we are making last-minute preparations for the accession to the WTO.

He said that we have taken note that some ASEAN countries have misgivings about competition with China after its accession to the WTO in terms of exporting to developed countries and attracting FDI. This kind of concern is unnecessary. China’s economic structure and export mix are different from those of Southeast Asian countries. China’s competitors in terms of exporting to the US and other developed countries are not Southeast Asian countries. The major sources of FDI in China are Hong Kong and Taiwan rather than the developed world. For ASEAN, China’s accession to the WTO means market expansion and more business opportunities. In fact, with the accelerating process of China’s accession to the WTO, bilateral trade between China and ASEAN has displayed the momentum of dramatic increase. I believe that China’s accession to the WTO will bring new and bigger opportunities to cooperation between China and ASEAN. The mutually beneficial cooperation between China and ASEAN has bright prospects.

The suggestions and initiatives of Premier Zhu are appreciated and agreed upon by participating countries. The leaders attending the meeting stated their views on the importance and development of East Asian cooperation. ASEAN leaders welcomed the cooperation initiatives put forward by leaders from China, Japan, and the ROK. Singaporean Prime Minister Goh Chok Tong, Chair of the meeting, finally declared it a success because of the sound suggestions put forward on strengthening regional cooperation and consensus reached.

On the evening of the 24th, Premier Zhu and his wife attended the banquet hosted by Prime Minister Goh and his wife. This is the fourth time that a Chinese leader has participated in the ASEAN-China, Japan, and the ROK summit. The 10 members of ASEAN are the Philippines, Malaysia, Thailand, Brunei, Singapore, Indonesia, Vietnam, Myanmar, Laos and Cambodia. 

Nov. 25, 2000