PHNOM PENH: In 2021, trade between ASEAN and China increased by 28% to about US$669 billion, making China ASEAN’s top trading partner.
A total of US$13.6 billion in foreign direct investments (FDIs) from China were made into the ASEAN region in 2021, nearly twice as much as in the previous year.
During the ceremony to present the “Distinguished World Leader Lifetime Achievement Award,” Samdech Techo Hun Sen stated that ASEAN and China cooperation had increased steadily over the previous three decades. This growth would be reflected in establishing the “ASEAN-China Comprehensive Strategic Partnership” in 2021 and the upcoming “China-ASEAN Free Trade Area version 3.0.”
“The engagement of ASEAN dialogue partners, especially China, which is recognized as the world’s second-largest economic Superpower, is indispensable to maintaining the prestige of ASEAN in all aspects at the global stage,” he stressed.
The ASEAN region will be able to achieve growth rates of 5.3 percent and 4.9 percent in 2022 and 2023, respectively, according to the assessment and forecast made by the ASEAN+3 Macroeconomic Research Office (AMRO) in October. This is a high rate when compared to other regions of the world.