JAKARTA: The Chinese government will not renegotiate the Asean-China Free Trade Agreement.
According to Ambassador of the People's Republic of China (PRC) to the Republic of Indonesia Liu Jianchao, the Asean-China Free Trade Agreement (ACFTA) has successfully improve trading and investment of Asean countries and China.
He affirmed there is no recommendation to renegotiate the ACFTA..
“ACFTA has a great future. Indonesia and China trade balance are basically well-balanced. We have different statistical data. We are also observing the structure. What we can do is to improve the structure and quality in ACFTA,” he said Thursday, April 12, 2012.
Liu believed the implementation of ACFTA has helped China and Asean countries in term of trading. “I believe it helped trade agreement between China and Asean and also bring benefit for the people,” he said.
Mid this year
Director General of International Trade Cooperation Iman Pambagyo said there would be no renegotiation for Asean-China Free Trade Agreement.
He said there is a misperception between renegotiating and rebalancing the trade balance of China and Asean. “We will conduct trade rebalancing rather than renegotiating. It’s two different things, the ACFTA will not be renegotiated,” he added.
The meeting to talk about trade rebalancing between Indonesia and China as well as Asean and China will be conducted in mid this year.
Several strategies can be used for trade rebalancing, including imposing an obligation for China to purchase certain goods from Indonesia or Asean, conducting promotional cooperation, and capacity building in a number of sectors. (T06/aph)