Chinese Premier Li Keqiang said on Tuesday China will work Association of Southeast Asian Nations (ASEAN) countries to build a community of "common destiny" to share peace and prosperity.
"China's good-neighborly policy toward the ASEAN is absolutely not a matter of expediency, but a long-term strategic option of China," said Li.
China is the largest trading partner of the ASEAN, while the ASEAN ranks as China's third-largest trading partner.
This year's expo attracted more than 2,300 companies from China and the ASEAN, consolidating its place as an important platform to promote bilateral trade and relationships between China and the ASEAN.
To deepen pragmatic economic cooperation, Li proposed "an upgraded version" of the China-ASEAN Free Trade Area (CAFTA), adding that the Chinese side will strive to expand bilateral trade to 1 trillion U.S. dollars by 2020 and increase bilateral investment by 150 billion dollars during the next eight years.
Launched in 2010, the CAFTA has become the world's largest free trade area among developing countries, covering a total population of 1.9 billion.
The expo has successfully facilitated the construction of the CAFTA under the framework of strategic partnership, and created various bilateral trade and economic opportunities, added ASEAN Secretary-General Le Luong Minh.
Bilateral trade between China and the ASEAN amounted to 400.1 billion U.S. dollars last year, nearly six times that of 10 years ago. In the first half of 2013, the bilateral trade surged to 210.56 billion U.S. dollars, representing a 12.2-percent increase year on year.
On Tuesday, Li said that China and the ASEAN could consider holding discussions on further lowering tariffs, and the Chinese side is willing to expand imports from the ASEAN and boost free trade and investment.
China is willing to join hands with the ASEAN to advance talks of Regional Comprehensive Economic Partnership (RCEP), and discuss exchanges and interactions with frameworks such as Trans-Pacific Partnership (TPP) Agreement, so as to create an open, inclusive and mutually beneficial climate to "make the two wheels of regional and global trade roll together," according to the premier.
Li said that China will firmly prioritize ASEAN member countries in the country's peripheral diplomacy, firmly deepen the strategic partnership with the ASEAN, and cooperate with the ASEAN to jointly safeguard peace and stability in the region, including the South China Sea.
