ASEAN trade with China hits $360b

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Bilateral trade between China and ASEAN stood at $360 billion in the first 11 months of 2012, according to data released by the China-ASEAN Business Council. The number was up 9.3 per cent year-on-year.

Furthermore, from January to November 2012 investment value of Chinese companies in ASEAN countries increased 31 per cent compared with the same period in 2011, “ said the council’s executive secretary Xu Ningning.

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 at the opening of the Laos Investment Promotion Seminar in Beijing on December 20.

China and the ten-member bloc of ASEAN is benefiting from the ASEAN–China Free Trade Area (ACFTA). The initial framework agreement was signed on 4 November 2002 in Phnom Penh, Cambodia, with the intent on establishing a free trade area among the eleven nations by 2010. The free trade area came into effect on 1 January 2010.The ASEAN–China Free Trade Area is the largest free trade area in terms of population and third largest in terms of nominal GDP.

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Reading Time: 1 minute

Click to enlarge

Bilateral trade between China and ASEAN stood at $360 billion in the first 11 months of 2012, according to data released by the China-ASEAN Business Council. The number was up 9.3 per cent year-on-year.

Reading Time: 1 minute

Click to enlarge

Bilateral trade between China and ASEAN stood at $360 billion in the first 11 months of 2012, according to data released by the China-ASEAN Business Council. The number was up 9.3 per cent year-on-year.

Furthermore, from January to November 2012 investment value of Chinese companies in ASEAN countries increased 31 per cent compared with the same period in 2011, “ said the council’s executive secretary Xu Ningning.

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 at the opening of the Laos Investment Promotion Seminar in Beijing on December 20.

China and the ten-member bloc of ASEAN is benefiting from the ASEAN–China Free Trade Area (ACFTA). The initial framework agreement was signed on 4 November 2002 in Phnom Penh, Cambodia, with the intent on establishing a free trade area among the eleven nations by 2010. The free trade area came into effect on 1 January 2010.The ASEAN–China Free Trade Area is the largest free trade area in terms of population and third largest in terms of nominal GDP.

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