Amid the chime to ring in the New Year, the start of China-ASEAN Free Trade Area came as a milestone in the annals of China-ASEAN relations, and it may well serve as a model for regional cooperation not only in Asia, but in other parts of the world.
The new free trade area has brought together developing countries in the region with a combined population of 1.9 billion, a combined gross domestic product (GDP) of up to 6 trillion U.S. dollars and total trade volume of 4.5 trillion dollars.
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