Dec 24, 2012

Malaysia - Asean-China trade tops US$360bn

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BEIJING, Dec 20 (Bernama) -- China-Asean bilateral trade reached US$360 billion in the first 11 months of this year, up 9.3 per cent year-on-year.

"From January to November, investment value of Chinese enterprises in Asean countries increased 31 per cent compared with the same period last year," said Xu Ningning, executive vice secretary-general of the China-Asean Business Council.

Asean has become China's third largest trading partner since last year and has also emerged as the preferred investment market for China entrepreneurs, Xu said when opening "Laos Investment Promotion Seminar" here Thursday.

He said China-Asean Free Trade Area was among the key factors that boost bilateral trade volume between both sides.

The implementation of zero tariff policy on more than 90 per cent of the products traded between China and Asean has also provided convenient condition to enhance bilateral investment, he said.

Xu said most Asean countries have rich natural resources and low labour cost.

"China is optimistic on the development of emerging economies of Asean nations, we will encourage more Chinese enterprises to invest there," he added.

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