ASEAN-China economic cooperation will further promote peace, stability in the Asia-Pacific region, and provide a buffer for the region to withstand possible global shocks in the future.
China is an important trade partner of the Association of Southeast Asian Nations (ASEAN), and greater ASEAN-China economic cooperation could further promote peace and stability in region, Asian Development Bank (ADB) country director for Cambodia Jyotsana Varma said Wednesday.
As the global economy gets more intertwined over time, China has become a major contributor to trade and investment growth for the region, according to Varma in an interview with Xinhua.
China is also a key driving force in the Greater Mekong Subregion (GMS) with growing contribution in the creation of various hubs for regional transportation, communication and energy systems, and in fostering competitiveness to drive the economic development of this region, she added.
"Therefore, ASEAN-China economic cooperation is important to maximize the opportunities and manage the cost of this growing economic interdependence between ASEAN and China," Varma said.
"In the future, greater ASEAN-China economic cooperation could also help promote greater peace and stability in the region. This is important as peace and stability is an important regional public good that can help promote the growth of commerce, trade and investment between ASEAN and China," she added. VIEW ARTICLE