Chinese Premier Zhu Rongji
said in Singapore November 25 that China's entry into the WTO means more opportunities for
countries of the Association of the Southeast Asian Nations (ASEAN).
Addressing ASEAN leaders at the ASEAN Plus China Summit, Zhu
said that as China and the Southeast Asian countries vary in economic structure and export
composition, the ASEAN countries are not China's main competitors in the U.S. and other
developed markets.
For instance, he said, China's export to the U.S. is led by
light industrial products, while ASEAN's export to the country is led by integrated
circuits.
The bulk of the overseas capital that China's mainland has
attracted is from Hong Kong and Taiwan, rather than from developed countries.
Therefore, Zhu said, China's accession to the WTO means a bigger
market and more business opportunities to ASEAN countries.
The Chinese premier stressed that it would bring them more
opportunities than challenges, and more advantages than disadvantages.
He said he is confident that China's entry into the WTO will
bring about a win-win situation to both China and ASEAN.
ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia,
Myanmar, the Philippines, Singapore, Thailand and Vietnam.
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