China-ASEAN Expo opens in Nanning
(Xinhua/cri)
Updated: 2005-10-19 13:28

NANNING -- The four-day China-ASEN Expo opened at 11 a.m. Wednesday in Nanning, capital city of southwest China's Guangxi Zhuang Autonomous Region, attracting some 2,000 companies from China, ASEAN member nations and other countries.

Chinese Vice President Zeng Qinghong inaugurated the opening ceremony.

In an address at the opening ceremony, Minister of Commerce, Bo Xilai, said that China looks forward to working together with ASEAN members to provide favorable conditions for businesses in the region.

ASEAN secretary-general, Ong Keng Yong, noted that with the construction of a China-ASEAN Free Trade Area (FTA), regional businesses will have greater opportunities to sell their products and expand their markets.

The four-day event will highlight products promotion and cooperation on investment, as well as providing a high-level forum for business and cultural exchanges.

China's Commerce Ministry spokesman, Chong Quan, said on Tuesday that trade between ASEAN and China is expanding rapidly, with total trade volume this year set to reach $US120 billion, exceeding previous forecasts.

Statistics provided by the Ministry show that in the 2002-2004 period, China and ASEAN's bilateral trade volume saw annual growth of 38.9 percent.

In 2004, China-ASEAN bilateral trade volume reached 105.9 billion US dollars, one year ahead of forecasts.

China and ASEAN has seen bilateral trade volume in the first half of 2005 reaching 59.76 billion US dollars, an increase of 25 percent over the same period last year.

ASEAN has become China's fourth largest trading partner. Individually Singapore, Malaysia, Thailand, Indonesia, and the Philippines have entered the ranks of China's top 20 trade partners.

At the seventh China-ASEAN leaders meeting in 2003, Chinese Premier Wen Jiabao proposed the launching of the China-ASEAN expo in 2004, and set it as an annual event, an idea which was warmly welcomed by ASEAN leaders.

ASEAN, founded in 1967, is composed of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Close