China, ASEAN embarking on cooperation of 'diamond decade'

RENEWED ENDEAVOR FOR WIN-WIN COOPERATION

China has been trying to revitalize an ancient seaway to promote economic ties with the ASEAN nations since October 2013 when Chinese President Xi Jinping proposed the 21st century Maritime Silk Road during a visit to Indonesia.

Analysts said revival of the historic trade route will inject new and strong vigor into the China-ASEAN cooperation based on common development and prosperity.

"The Maritime Silk Road initiative will have a huge and far- reaching impact on the relations between China and ASEAN countries, " said professor Mi of the BFSU.

By upgrading its cooperation with the southeast Asian regional bloc, China is also seeking to secure a negotiated solution to maritime disputes with related ASEAN countries.

Chinese Foreign Minister Wang Yi said China advocates a "dual- track" approach in resolving the South China Sea issue.

The "dual-track" approach includes relevant disputes being addressed by countries directly involved through negotiations and in a peaceful way, and peace and stability in the South China Sea being jointly maintained by China and ASEAN countries.

"Differences are inevitable in the China-ASEAN relations, but both sides will see their economic cooperation develop in a deeper and more pragmatic way," said Xiao from the Asia Pacific Exchange & Cooperation Foundation.

Last month, China and Vietnam agreed to properly address and control disputes after Vietnamese vessels illegally disturbed a Chinese company's drilling activities near the Xisha islands in the South China Sea in May.

"The South China Sea issue is difficult but I think it will not spill over to block trade flows with other countries and areas," said professor Kaewkamol of the Nanyang Technological University.

Sharing a common destiny and common interests, China and the ASEAN nations are bound to further enhance their strategic partnership of cooperation in the new decade.