China to buy $150 billions worth of farm goods from ASEAN members

Yesterday, President Xi Jinping announced several major initiatives to boost economic cooperation between China and the Association of Southeast Asian Nations (ASEAN). This would include attempting to import $150 billions worth of agricultural products from ASEAN members over the next five years, offering additional financial assistance to the bloc's economic recovery and anti-epidemic efforts, as well as providing advanced technology.

These initiatives, particularly the plan to nearly double imports of ASEAN agricultural products, demonstrate China's determination to boost bilateral cooperation and help revive the bloc's economy while also injecting certainty into the world amid global geopolitical complexities, analysts said.

To further boost the region's economy, Chinese experts reiterated calls for the remaining participating countries to finish ratification of the Regional Comprehensive Economic Partnership, a landmark achievement of regional cooperation among 15 Asia-Pacific nations.


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