Bright Future for China-ASEAN Cooperation

In 2020， amidst a significantly weak international trade market， ASEAN became the largest trading partner of China in history. In 2021， the economic and trade cooperation between China and ASEAN countries continues to buck the global trend， and ASEAN has become the most important outbound investment destination and source of foreign direct investment for China. In 2020， the Regional Comprehensive Economic Partnership （RCEP）， initiated by 10 ASEAN countries， was officially signed marking the largest free trade zone as moving on smoothly， bringing confidence and hope to the global economy in a difficult time.

The signing of the RCEP would boost regional economic and trade cooperation between China and ASEAN and even the entire Asia-Pacific region， and encourage enterprises to pay more attention to international development plans. However， at the same time， friction and disputes increase， too， bringing a sharp rise in demand for legal services. How to better understand the legal environment in trade partnering and investment destination countries and regions while avoiding legal risks has now become a big concern for enterprises carrying out international economic and trade cooperation.

Recently， President Xi Jinping sent a congratulatory letter to the opening of the 18th China-ASEAN Expo and China-ASEAN Business and Investment Summit in Nanning， Guangxi Zhuang Autonomous Region， he said， “over the past 30 years since dialogue relations were established between China and ASEAN， both sides have actively deepened all-round cooperation and become each others largest trading partners， building the most dynamic cooperative relations in Asia-Pacific. Since the outbreak of COVID-19， both sides have joined hands to fight the epidemic and overcome difficulties together， interpreting the spirit of the community of a common future， namely supporting each other and sharing weal and woe.” President Xi Jinpings congratulatory letter drew an exciting blueprint for China-ASEAN cooperation， highlighting the confidence and determination of China and ASEAN to build the Belt and Road of high quality and a China-ASEAN community for a common future.

At a special meeting for the 30th anniversary of China-ASEAN Dialogue Partnership and Symposium on China-ASEAN Commercial Legal Cooperation， held at the same time， participants from industrial and commercial circles of various countries discussed the prospect of the RCEP as it has come into effect， how to further strengthen and improve effective China-ASEAN cooperation， as well as the goal to deepen economic and trade cooperation between China and the ASEAN and increasing demand for commercial legal services.