People visit the booth of Indonesia at the 19th China-ASEAN Expo in Nanning, China's Guangxi Zhuang autonomous region, on Sept 19, 2022. (PHOTO / VCG)
The mutually beneficial bilateral cooperation between China and the Philippines and that between China and Indonesia have great potential, an official of the Ministry of Commerce said, according to a statement from the ministry on Monday.
The official made the remarks as China's State Council recently approved the establishment of the China-Philippines economic and trade innovational development demonstration park and the China-Indonesia economic and trade innovational development demonstration park.
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The State Council also approved in principle the master plans respectively for the construction of the two demonstration parks.
The two parks will give full play to the complementary advantages of China and the Association of Southeast Asian Nations in economic and trade cooperation, explore international division of labor cooperation models that feature deep integration of industrial, supply value chains, the official said.
The official also said the ministry will work to promote the construction of the two demonstration parks.