Trade between China, ASEAN Surges

Home>>Business

Last updated at: (Beijing Time) Sunday, October 27, 2002

Trade between China, ASEAN Surges

The total trade volume between China and the ASEAN during the period from January to September of this year hit 38.55 billion US dollars, surging 27.19 percent compared to the same period last year.

DISCUSSION

CHINESE

SEND TO FRIEND

The total trade volume between China and the ASEAN during the period from January to September of this year hit 38.55 billion US dollars, surging 27.19 percent compared to the same period last year.

The figure was announced by trade officials at the first Macro-Economic Forum on China and the Association of Southeast Asian Nations (ASEAN), which opened Saturday in Kunming, the capital of southwest China's Yunnan Province.

Since 1995, the annual trade volume between China and ASEAN has increased by an annual average rate of over 15 percent. Last year,trade volume between China and ASEAN Member States reached 41.6 billion US dollars.

The ASEAN has become China's 5th largest trade partner, while China is the ASEAN's 6th largest. In addition, all ten ASEAN Member States have become Chinese tourist destinations.

Worapot Manupipatpong, head of the ASEAN secretariat, said that there is great potential for China and the ASEAN to cooperate with each other in the fields of trade, economics, science, technology and tourism.

Both China and the ASEAN boast large markets and huge populations, said Worapot Manupipatpong, adding that the two sidesmust strengthen mutual economic cooperation and eliminate trade barriers in order to increase productivity.

Allauddin Anuar, a senior economic official from Malaysia, said that China has provided a great market for ASEAN Member States in recent years due to its rapid economic growth and improved purchasing capacity. Meanwhile, China's WTO entry has also increased opportunities for ASEAN states to enter China's market.

According to Anuar, Malaysia's current export volume to China has increased seven-fold compared to the 1991 figure, while the import volume has increased six-fold. Half of the commodities traded were electronic, electrical, chemical, machinery and textile products, and edible oils and grains.

For over 20 years, southwest China's Yunnan province, which borders the three ASEAN Member States of Vietnam, Laos and Myanmar,has attached great importance to trade and economic cooperation with southeast Asian countries.

Yunnan deputy governor Niu Shaoyao said that Yunnan has benefited greatly from economic cooperation with the ASEAN.

Statistics show that the trade volume between Yunnan and the ASEAN totaled 710 million US dollars in 2001, accounting for 35.6 percent of the province's foreign trade volume.

Questions?Comments? Click here

China Outlines Future Plans for Expansion of Road Network ( 9 Messages)

PBOC Forecast Faster Money Growth ( 8 Messages)

China May Have More PhDs Than the US in 2010 ( 50 Messages)

China May Outstrip US as World's Largest FDI Recipient: UNCTAD ( 3 Messages)

China Opposes US Weapon Sales to Taiwan ( 3 Messages)

( Messages)