Lao PM: ASEAN, China showed commitment to expand economic ties

VIENTIANE - Lao PDR Prime Minister Sonexay Siphandone on Thursday said reaching a substantial conclusion on the ASEAN-China Free Trade Area 3.0 showed the two parties' commitment in expanding their economic ties. 

''To further deepen our economic integration, ASEAN and China have a chance to upgrade the ASEAN-China Free Trade Area 3.0. And now, the ASEAN-China negotiation working group has reached [a] substantial conclusion on the ASEAN-China Free Trade Area 3.0 with the final agreement expected by 2025,'' Siphandone said during the ASEAN-China Summit. 

Siphandone said a joint statement on the latest development would be issued, noting that the conclusion symbolizes a new era in the ASEAN-China economic cooperation.

''Taking this opportunity, I’d like to thank the ASEAN-China economic ministers, the negotiation teams, and the relevant working groups for concluding these substantial negotiations on ASEAN-China Free Trade Area 3.0,'' he said. 

The Prime Minister said the ASEAN-China dialogue has been expanded, encompassing political security, economic. and socio-cultural cooperation.

He said China has consistently supported ASEAN centrality and participated in all ASEAN initiated mechanisms.—AOL, GMA Integrated News