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The Association of Southeast Asian Nations (ASEAN) on Monday appreciated China's active role in developing transportation infrastructure between the two sides and welcome the establishment of the 10 billion U.S. dollar fund for bilateral investment cooperation.
In April, Chinese Premier Wen Jiabao said that China has decided to set up a 10 billion U.S. dollar "China-ASEAN Fund on Investment Cooperation" to support infrastructural development in the region.
Upon the completion of the ASEAN-China Free Trade Area in January 2010, the ASEAN believed that there is a need to explore ways and means to further strengthen ASEAN-China economic cooperation in all dimensions, said a joint communique released from the 42nd ASEAN Foreign Ministers Meeting.
"We look forward to the signing of ASEAN-China Investment Agreement at the ASEAN Economic Ministers Meeting in August 2009,"the communique said.
The ASEAN also welcomed China's plan to provide 15 billion U.S. dollar commercial credit, including 1.7 billion U.S. dollar preferential loans, to ASEAN member states in the next three to five years, the communique said.
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