1. ASEAN+China
The development of ASEAN-China trade and economic relations can roughly be divided into
three stages (Jianglin, 2007). The first stage, covering 1967 to 1990, was an important
moment to build mutual understanding and trust. The mutual understanding between ASEAN
and China was gradually strengthened through bilateral activities in the late 1970s and early
1980s when China dramatically changed its foreign policy. China formally agreed to have
diplomatic relations with all ASEAN members by 1991. The second stage, covering 1991 to
2001, was the rapid improvement of political and economic relations between China and
ASEAN. In particular, in 1997, both sides issued a joint declaration on building a good-
neighborly partnership oriented to the 21
st
century. The third stage, starting from 2002 to
present, is to enhance the China-ASEAN Free Trade Area by 2010. In 2004, all ASEAN
members unanimously recognized China’s full market economy status and signed the
Agreement on Trade in Goods of the Framework Agreement on Comprehensive Economic
Cooperation with China. In July 2005, the ‘early harvest trade in goods’ programme came
into effect. In 2007, both sides signed the Agreement on Trade in Services. These
arrangements have reinforced economic relationship between ASEAN and China.
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