THE BUSINESS OF INTERNATIONAL TRADE
THE BUSINESS OF INTERNATIONAL TRADE
3 August 2021, State Councillor and Foreign Minister Wang Yi said at the ASEAN-China Ministerial Meeting that the trade and investment cooperation between China and the Association of Southeast Asian Nations (ASEAN*) is remarkable. ASEAN continues to be China’s largest trading partner, with the cumulative investment between the two sides exceeding 310 billion U.S. dollars, making both sides lead the way in this aspect. It was reported that, in the first seven months of 2021, bilateral trade exceeded 410 billion U.S. dollars, up 38.2% percent year on year with foreign trade between the south China’s Guangxi Zhuang Autonomous Region and ASEAN countries growing by 34% to over 167 billion yuan (about 25.8 billion US dollars).
In July 2021, on the 30th anniversary since bilateral trade relations began, official data showed that trade between China and ASEAN had skyrocketed by 85 times over that period. With such a strong foundation, the two sides have pledged to enhance cooperation in all sectors to open a new chapter in ASEAN-China common development and prosperity.
* ASEAN member countries are: Brunei Darussalam, Myanmar/Burma, Cambodia, Indonesia, Laos, Malaysia, Philippines, Singapore, Thailand, Vietnam.
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