Xi Jinping: "Will Import 178 Trillion Won Worth of ASEAN Agricultural Products"

Development Aid of 1.8 Trillion Won and 1,000 Advanced Technologies Provided
Strategy to Secure Southeast Asian Allies Against US Pressure

[Image source=Yonhap News]

[Asia Economy Reporter Ki-min Lee] Chinese President Xi Jinping has pledged to import agricultural products worth 178 trillion won from ASEAN countries, provide 1.8 trillion won in development aid, and supply 1,000 advanced technologies. This is interpreted as a strategy to make Southeast Asian countries allies against the United States, which is trying to pressure China by rallying allies and friendly countries in the Indo-Pacific region.

According to China Central Television (CCTV), President Xi made these announcements on the 22nd during the 30th anniversary summit of the establishment of China-ASEAN dialogue relations, held via video conference.

In his speech, President Xi said, "China, with its vast domestic market, will strive to import $150 billion (approximately 178 trillion won) worth of agricultural products over the next five years, including increasing imports of excellent products from ASEAN countries."

This scale of agricultural imports is about five times larger than the amount promised in the Phase One trade agreement China signed with the United States in January last year ($32 billion over two years).

He continued, "We will provide 1,000 advanced applied technologies to ASEAN and support the exchange visits of 300 ASEAN young scientists to China over the next five years."

Additionally, he stated, "We hope to provide $1.5 billion (approximately 1.78 trillion won) in development aid over the next three years to help ASEAN countries with epidemic prevention and economic recovery."

President Xi also proposed enhancing investment and trade liberalization through the early operation of version 3 of the China-ASEAN Free Trade Area, expanding cooperation in digital and green economies, jointly building pilot zones for innovative economic and trade development, and constructing a high-quality Belt and Road Initiative.

He added, "China firmly opposes hegemonism and power politics," and "China will not seek hegemony, nor will a great power bully smaller countries," indirectly criticizing the U.S. efforts to rally alliances.

He further emphasized, "We will be builders and guardians of regional peace," stating, "We should engage in dialogue without confrontation, be partners without forming alliances, cooperate to respond to threats, and counter various negative factors that disrupt peace." He added, "We must practice genuine multilateralism and adhere to a method where all parties consult on international and regional issues."

Moreover, he expressed hope for the early signing of the Southeast Asia Nuclear-Weapon-Free Zone Treaty protocol. This is interpreted as a declaration of opposition to U.S.-led 'small groups' such as AUKUS (security cooperation among the U.S., UK, and Australia, centered on providing Australia with nuclear-powered submarines) and the Quad (security dialogue among the U.S., Japan, Australia, and India).

Meanwhile, the Group of Seven (G7), led by the U.S. and the UK, also seeks cooperation with ASEAN. The UK government, which holds the G7 presidency, announced on the 22nd that it will hold the G7 Foreign and Development Ministers' Meeting in Liverpool from July 10 to 12 (local time). It explained that, in addition to South Korea, Australia, India, and South Africa, which attended the May meeting, ASEAN member countries such as Malaysia, Thailand, and Indonesia will be invited for the first time.

This content was produced with the assistance of AI translation services.