The Chinese government is looking forward to the implementation of the Free trade Agreement (FTA) with the Association of Southeast Asian Nations (ASEAN) starting January 1, 2010.

Chinese Ambassador to the Philippines Liu Jianchao said the Chinese government is expecting to have the FTA agreement between ASEAN and China “in place” by January 1, 2009. The FTA agreement is expected to enable the two parties trade 95 percent of its items at zero tariff.

“So far, the Philippines is enjoying good surplus trade this part of the world, [which is] very meaningful to the world trade and the international economy as well,” Liu said.

“Rest assured, China’s market is open to Asian products,” he added.

The Chinese envoy also said that despite the global financial crisis, it will uphold fair trade and not resort to protectionism.

“We are opposed to any kind of protectionism. So far, [there is a] positive response from the ASEAN,” he said.

ASEAN is China’s third largest trading partner. Its other major trading partners are the European Union (EU), US, and Japan.

Liu however said it is also beefing up its domestic market as a lesson from the global financial meltdown.

“As a lesson from the ongoing international crisis, relying on the international market is sometimes risky. We have to make sure there is sustainable development,” he said.

China has put up a US$58.6-billion stimulus plan, mostly for infrastructure development, social services, and also to expand its domestic market.

Liu said that in the first quarter of this year, China’s gross domestic product (GDP) reached 6.1 percent and7.9 percent in the second quarter of 2009, with an average of 7.1 percent for the first half of the year.

“We’re nearing our annual target of eight percent,” Liu disclosed.