On August 15, the Eighth China-ASEAN Economic and Trade Ministers’ Meeting (CAEM) was held in Bangkok, Thailand. Chinese Minister of Commerce Chen Deming and the Economic Ministers of the 10 ASEAN member states together signed ASEAN-China Free Trade Area (FTA) Investment Agreement. The signing of the agreement sent out a clear signal that China and ASEAN would like to join efforts to cope with the financial crisis, continue to promote trade and investment liberalization and oppose trade and investment protectionism, so as to speed up the recovery and development of the economy in East Asia and the world.

The Investment Agreement provides a free, transparent and just investment mechanism for investors from both sides, gives them national treatment, most-favored-nation treatment, and fair and equitable treatment on investment.

The ASEAN-China FTA mutual investment has kept expanding over recent years. By the end of 2008, ASEAN’s actual investment in China was valued at $52 billion, accounting for 6.08% of China’s overall foreign investment. Meanwhile, given China's “going global” strategy, China’s direct investment in ASEAN reached $2.18 billion in 2008, an increase of 125% from prior year.  With this Investment Agreement, the mutual investment and trade ties between China and ASEAN will enter a new phase.

China-ASEAN Free Trade Area is the first of its kind that China has negotiated with foreign countries. For ASEAN, it is also the first of its kind that it has negotiated with foreign countries. In 2002, China and ASEAN initiated the negotiation of China-ASEAN Free Trade Area; in 2003, Early Harvest Plan was officially implemented; in 2004, Agreement on Trade in Goods was signed; and in 2007, Agreement on Trade in Services was signed. The signing of the Investment Agreement indicates that China-ASEAN Free Trade Area negotiation has been completed, and actual implementation will start in 2010.