China-ASEAN FTA Beneficial to All

China-Association of Southeast Asian Nations (ASEAN) Free Trade Area (FTA) is beneficial to all from a theoretical point of view as it enlarges market for both, said a Thai diplomat in an interview with Xinhuanet.

Kanyarat Bhanthumnavin, First Secretary of the Thai Embassy in China, said after the operation of the FTA, the ASEAN countries can easily reach the "vast Chinese market" while "China also has access to a vast market of 550 million people."

The FTA can "improve the quality of life and choices of consumers," she added, as "the consumers could consume goods at zero-tariff and also have free movement of capital for investment, setting up businesses and services."

According to Bhanthumnavin, industrial sectors, such as the production of automobile, industrial goods, electric appliances and computer parts, "are the major parts that will see the benefits of FTA."

The FTA also helps China and ASEAN countries recover from the latest financial crisis, Bhanthumnavin said.

"After the crisis, especially what happened in 2009, we see huge rise in domestic consumption in Asia. So this FTA is to create opportunities for consumption in Asia," Bhanthumnavin said, adding the increased domestic consumption helped tackle the global economic imbalance.

The operation of FTA is a contribution to the world economy, said Bhanthumnavin.

"Economists hope that the emergence of FTA will actually encourage people to come together and see the benefits of FTAs, and try to distribute the concept of free trade at a global level."