A Chinese economic expert says the launch of a China-ASEAN free trade zone will have a positive and profound influence on the Asian economic integration process.

A senior researcher from the China Institute of International Studies, Wei Min says that the two agreements, signed by China and ASEAN leaders at the ASEAN-China summit held in Vientiane, Laos, signal the start of the six-year plan to set up a China-ASEAN free trade area.

Wei Min says China and ASEAN have huge potential for trade and commercial cooperation, and in the next five years China is likely to be the largest or second largest trade partner of ASEAN.

He says to speed up the establishment of the free trade zone, China and ASEAN leaders should take concrete measures to deal with tariffs, service trade, and investment agreement.

Source: CRI