[photopress:Logistics_Nanning_1.jpg,full,alignright]The focus of the Fourth China-ASEAN Expo is to be held in Nanning, (showing its charms in our illustration), capital of South China’s Guanxi province. The annual event, organized by China and the 10 ASEAN members, will be held from October 28-31.
Vice-Minister of Commerce Gao Hucheng said business leaders and top government officials from the region will attend the expo, which is expected to provide a platform for opportunities brought by the China-ASEAN free trade agreement.
Li Jinzao, secretary-general of the China-ASEAN Expo Organizing Committee, said worldwide logistics industry leaders are expected to participate.
There are good reasons for this:
North China’s Tianjin Port exported 57,000 tons of fruit to ASEAN members in the first seven months of this year, up 32.7% year-on-year.
China is the fourth-largest trading partner of ASEAN members, and vice versa.
Bilateral trading volume between China and ASEAN members reached $160.8 billion in 2006, up 23.4% year-on-year.
Gao Hucheng estimates total bilateral trade volume will top $190 billion this year and $200 billion in 2008, which would achieve a 2010 target two years ahead of schedule.
The two sides have been cutting tariffs since a free trade agreement was signed in 2002.
A goods trade agreement was implemented in 2005 and a service trade agreement was signed in July in which China promised to open up the construction, environmental protection and transport sectors.
The 10 ASEAN members will also open finance, medical services and transport to China. About 7,000 items are expected to get a zero tariff by 2010.
China mainly exports ships, textiles and vegetables to ASEAN members, and imports copper and rubber products.
ASEAN is the major market for Chinese companies in terms of labor cooperation and contracting projects.
By the end of 2006, ASEAN members had invested $41.9 billion in China, while investment from China to ASEAN is also increasing.
An important conference with much to discuss.
Source: People’s Daily Online
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