China and ASEAN are expected to explore business initiatives in such sectors as infrastructure, technology and green energy that would foster sustainable economic development among member states, says Seun Sam, a policy analyst at the Royal Academy of Cambodia.
by Seun Sam
The ongoing bond between China and the Association of Southeast Asian Nations (ASEAN) remains crucial in influencing the economic dynamics of the Asia-Pacific region.
The 27th China-ASEAN Summit, held in Laos this week, is an opportunity to achieve more outcomes and delve into avenues for collaboration.
This gathering occurs at a moment when regional obstacles and global economic instabilities call for partnerships and creative strategies.
It also comes amid stronger economic ties between China and ASEAN and growing multilateral trade and investment opportunities since the Regional Comprehensive Economic Partnership (RCEP) was in place.
The summit provides a unique opportunity for regional leaders to tap into greater RCEP potential and to bring down trade barriers, synergize standards and boost commerce.
China and ASEAN are expected to explore business initiatives in such sectors as infrastructure, technology and green energy that would foster sustainable economic development among member states.
Take the Belt and Road Initiative (BRI), under which various joint projects have played a big role in enhancing ASEAN transport and digital infrastructure as well as connectivity in the region and beyond.
Laos exemplifies how a host nation witnesses BRI-led progress, as the China-Laos Railway project has boosted trade and connectivity among Laos, China and their neighbors, as well as supported Laos' aspiration to become a regional logistics hub.
China's relationship with ASEAN goes beyond benefits as it also prioritizes regional security and stability issues like the complexities surrounding the South China Sea disputes due to conflicting territorial claims and maritime disagreements between nations in the area.
Nevertheless, there has been progress in fostering discussions and collaboration between China and ASEAN recently.
By prioritizing dialogue and collaboration, China and ASEAN can strengthen their commitment to maintaining a secure maritime setting.
Climate change presents obstacles for China and ASEAN alike, especially concerning the increase in sea levels, severe weather occurrences and hazards to food security.
The summit offers an opportunity to strengthen action on climate change by emphasizing energy cooperation, safeguarding the environment and supporting sustainable farming.
The event also promoted cultural connections and people-to-people exchanges between China and ASEAN states by highlighting tourism partnerships and joint preservation of cultural heritage sites.
As the two sides' enduring bonds are commemorated and positive sentiments fostered, the summit helps enhance the stability and prosperity of the Asia-Pacific region.
Editor's note: Seun Sam is a policy analyst at the Royal Academy of Cambodia.
The views expressed in this article are those of the author and do not necessarily reflect the positions of Xinhua News Agency.■