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China-ASEAN trade and investment grows strongly

07-23-2010 09:15 BJT

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Trade between China and Asean countries is growing faster, since the establishment of the China-Asean Free Trade Area. Asean has now become China's third largest trade partner, and both sides are benefiting.

This is an orchard in North Thailand, where farmers are dedicating themselves to producing juicy longans.

With reduced tariffs and more convenient transport after the inception of the China-Asean Free Trade Zone, longan farmers have found a more lucrative market exporting their goods to China.

Investment is also being boosted by the launch of the trade area. Many Chinese companies are now shipping their goods from factories in Thailand, where they enjoy preferential policies.

Wu Yong, General Manager, Haier Electronics, said, "China's exports to South American countries will be levied high tariffs, 20, 30 or even 50 percent. But that will be reduced to 5 or 10 percent if exported from Thailand. This is a good place for trans-shipping."

The China-Asean Free Trade Area was launched on January 1st, this year. It's now the largest free trade area in terms of population and third largest in terms of nominal GDP.

Editor:Zhang Jingya |Source:

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