On November 3, 2002, Premier Zhu Rongji, who was on an official visit to Cambodia and attending East Asian leaders' meetings, met with Singaporean Prime Minister Goh Chok Tong in Phnom Penh. Both sides expressed satisfaction with the rapid development of relations between China and the Association of Southeast Asian Nations (ASEAN) over recent years. Goh Chok Tong said he appreciated the policy of the Chinese government to attach importance to its relations with ASEAN. He also spoke highly of China's efforts in this regard. The two leaders exchanged views on establishing a free trade zone between China and ASEAN.

Zhu said the Chinese side has always remained committed to developing the good-neighborly and cooperative partnership of mutual trust between China and ASEAN. He said China proposed the establishment of the China-ASEAN Free Trade Zone at the ASEAN-China (10+1) meeting last year, and the proposal was made mainly with a view to political stability and economic development in the Southeast Asian region. The Chinese initiative has received extensive support from ASEAN countries including Singapore. He explained that China hoped ASEAN countries can obtain greater benefits and more rapid development during this process. China also hoped that its trade relations with ASEAN members can be pushed to a new stage.

Goh Chok Tong said the establishment of the China-ASEAN Free Trade Zone will be of much importance to China, but it will be of even greater strategic significance to ASEAN itself. This showed that ASEAN has been given much importance, which will prompt other major countries in the world to develop their trade and economic relations with ASEAN. He promised that all ASEAN parties will take an active attitude in speeding up the process of setting up the China-ASEAN Free Trade Zone.