Trade In Services And The Development Of The China-ASEAN Relations

Trade in services, also known as services trade, refers to the economic exchangeactivities between countries provide each other services. There are two ways to definetrade in services, broadly and narrowly, narrowly speaking trade in services means acountry provide direct service activities in order to meet another country’s need toobtain remunerative activities in the form. The broadly speaking trade in servicesincludes both tangible living labor and intangible activities of service providers andusers don’t direct contact with the transaction. Trade in services refers to the economicexchange activities between countries in a broad sense with each other to provideservices. After the World War II, the worldwide trade in services rapid development. Ithas become an important part of the world economic. China-ASEAN Free Trade Area(CAFTA) was formally established in2010, China and ASEAN trade in goods and otherareas of investment are increasing, making the development of bilateral trade in serviceswith greater space. With the development of world economic integration trends, thelevel of development of trade in services is becoming an important indicator ofmeasuring a country’s competitiveness. ASEAN as a major economies neighbor toChina, their resource and economic needs are complementarities. At the same time,China and ASEAN’s trade in services have many similarities. The development of theirown trade in services between China and ASEAN can promote political cooperation,economic cooperation, cultural cooperation, employment of the population and promotethe adjustment of industrial structure between the two sides, thus promote the furtherdevelopment of mutual relations between China and ASEAN countries.