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Zhanjiang-ASEAN bilateral trade rises to $795m

Updated: 2016-06-16

Since the establishment of the China-ASEAN Free Trade Area (CAFTA) in 2010, trade volume between Zhanjiang in Guangdong province and ASEAN member states have seen a considerable jump.

Trade volume between the two areas has increased to 5.2 billion yuan ($795 million) in 2015 from $431 million in 2011, seeing an average annual increase of 18.6 percent. On average, imports rose by 22 percent and exports by 13.5 percent per year over the four-year period.

During the 12th Five-Year Plan (2011-15), the majority of the investment came from Singapore, Thailand, Indonesia and Philippines, with the countries plowing money into some 20 Zhanjiang enterprises. They invested most in aquatic products processing, aquaculture, crop farming and fodder production sectors.

Meanwhile, Zhanjiang set up 11 enterprises in ASEAN countries, investing $634 million into aquatic fodder production, poultry fodder processing, sugar production, agricultural crop farming and education.

At present, Thailand has risen to become the most important country for Zhanjiang to carry out its "going out" strategy.

 

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