ASEAN plus three should enhance coordination in macro policy

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ASEAN and the three countries of China, Japan and the Republic of Korea (ROK) should enhance their communication and coordination in the aspect of macro policies for the benefit of an equitable and sustainable development of the regional economy, said Chinese Minister of Commerce Chen Deming.

Speaking at the 14th ASEAN Economic Ministers Plus Three Consultations, Chen said that despite maintaining an upward momentum, East Asia's economy still faces uncertainties at a time when developed economies such as the United States and Europe are in a complex situation.

Chen noted that there exists favorable conditions for ASEAN plus three to enhance economic and trade cooperation in a sustainable, in-depth and rapid way.

With wide spheres of cooperation and notable achievements, ASEAN plus three has already become one of the most vibrant cooperative mechanisms in East Asia and the core of regional cooperation, said the Chinese trade official.

He said that China will continue to work with ASEAN, Japan and the ROK to push forward cooperation under the mechanism so as to promote peace, stability and development in the region.

Chen stressed that China attaches great importance to its economic and trade cooperation with ASEAN, Japan and ROK, who are China's important trading and investment partners. He noted that China's trade with ASEAN, Japan and ROK accounts for 27 percent of China's total foreign trade.

By adhering to the principles of consultation on an equal footing, mutual benefit and collective wins, following in proper sequence and openness and tolerance, China is willing to participate in and further promote the economic cooperation in East Asia so as to contribute to regional economic development and the common prosperity of East Asian nations, he added.