China Became Largest Trading Partner of ASEAN

With a total volume of bilateral trade of 230 billion in 2010, China became the largest trading partner of ASEAN.

This was stated by Indonesian Vice Minister of Commerce, Mahendra Siregar, on the sidelines of the Conference of Ministers of the ASEAN-China Economy, held Friday in Manado, Indonesia.

According to Mahendra Siregar, the ASEAN exports to the Chinese market in 2010 amounted to $ 113.5 billion, an increase of 39.1% compared to 2009, and imports of goods from China, 117.7 billion dollars, up 21.8% year on year.

The same day, the 14th Ministerial Conference of Economy and Trade of the ASEAN +3 (China, Japan and South Korea) was held in Indonesia.

On this occasion, the Chinese Commerce Minister Chen Deming said that ASEAN, Japan and South Korea were important partners of Beijing in business cooperation and investment.

Last year, trade between China, ASEAN, Japan and the Republic of Korea accounted for 27% of Chinese trade, and investment from ASEAN, Japan and the Republic of Korea in China occupied 12.4% of total foreign investment in the country.

That’s why China makes much of the economic and trade cooperation with member countries of ASEAN +3 and is ready to strengthen its economic cooperation in East Asia, based on the principle of equal negotiation, mutual benefit and free consent to the economic development and prosperity of the region.

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