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By Hu Jiangyun & Luo Yuze, Task Group to Singapore and Australia, Department of Foreign Economic Relations of DRC

Research Report No 19, 2015 (Total 4704)

Abstract:

Singapore and Australia are members of The Trans-Pacific Partnership (TPP), Regional Comprehensive Economic Partnership (RCEP), Free Trade Area of the Asia-Pacific (FTAAP), and major countries for China to enhance the Asia-Pacific regional cooperation. During our visit to Singapore and Australia from late November to early December 2014, we had discussions and exchanged views with government officials and think tank experts of the two countries on issues related to China's "One Belt and One Road" strategy, the upgrading of China-ASEAN Free Trade Area (CAFTA) and Asia-Pacific regional cooperation, and reaped rewarding results. Officials and experts from Singapore agreed with the view that China should hold a leading position in the Asia-Pacific regional cooperation and they showed an active support to the cooperation, in the hope that China-Singapore Free Trade Area could be promoted to further enhance the upgrading of CAFTA. Officials and experts from Australia expressed a positive approach toward the involvement of regional cooperation, and hoped that the multilateral trade and investment could be further facilitated to induce more trade creation effect. At the same time, experts from both countries pointed out that there are various distinctive differences between AEAN countries, leading to some challenges and risks facing Asia-Pacific regional cooperation.