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Chinese premier Li Qiang urges stronger market integration with Southeast Asia amid South China Sea Tensions

BNE News Desk , October 10, 2024
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Chinese Premier Li Qiang called for deeper economic integration with Southeast Asia during the annual summit talks with the Association of Southeast Asian Nations (ASEAN) on Thursday. The discussions took place against the backdrop of ongoing territorial disputes in the South China Sea, where recent confrontations between China and ASEAN members, the Philippines and Vietnam, have heightened tensions.

Although Li did not directly address the South China Sea disputes in his opening remarks, he emphasised the importance of strengthening trade ties between China and the 10-member ASEAN bloc, which represents a market of 672 million people. Li highlighted the economic benefits of closer collaboration, noting that a unified market approach would promote regional prosperity.

“The global economy is facing a sluggish recovery, with rising protectionism and geopolitical turbulence causing instability and uncertainty,” Li said. He underscored that the size of the combined China-ASEAN market serves as a solid foundation for fostering economic growth. “Strengthening market coordination and synchronisation is a key direction for our future cooperation,” he added.

The summit is expected to address the ongoing tensions in the South China Sea, where China's assertive actions have raised concerns among its Southeast Asian neighbours. Despite these challenges, Li’s focus remained on promoting economic cooperation as a way to enhance regional stability and development.