The first ever China-ASEAN Exposition has opened in Nanning.  

Chinese Vice Premier Wu Yi officially got the proceedings under way. She said, "I declare the first China-ASEAN Expo open."
 

Chinese Trade Minister Bo Xilai said, "The China-ASEAN Expo is one example of China's efforts to create a favorable environment for smooth trade cooperation in the region. It's also a step forward to the goal of setting up the ASEAN-plus-one free trade zone." (Photo: cctv.com)

The first China-ASEAN Exposition opened in Nanning, capital of south China's Guangxi Zhuang Autonomous Region, on November 3. Guangdong province is expected to commit itself as a pioneer in the China-ASEAN trade.

Guangdong with a delegation of 887 participants is reported to be the largest in members for this Expo. 

Lu Kejian, Deputy Director General of the Ministry of Commerce's Department of Asian Affairs revealed that with the comprehensive advantages in location, culture and economy, Guangdong could act as a pioneer in the China-ASEAN cooperation. 

The Association of Southeast Asian Nations (ASEAN) is planning to establish a free trade zone with China's effort by 2010, which will forge the third largest FTA worldwide. "Guangdong enterprises should make full use of their privilege and seize the economic opportunity ", said Lu. 

Up to 2002, Guangdong plays a vital role in the trade and investment communication with ASEAN. Statistics also shows that, from January to August this year, bilateral trade between Guangdong and the ASEAN reached 20.29 billion US dollars, up 23.6%, accounting 30.9% of the country's total, it is the largest quantity in the country.

The Expo attracts more than 1,500 companies from China, ASEAN member nations and other countries, including 19 companies of world's top 500.

Related Info:

ASEAN is the fifth largest export market for China and fourth importation source end. ASEAN exported China at USD 47.3billion or 11% of its total exports volume to the world and imported from China with the quantity of USD 30.9 billion or 8.6% of its total global imports 2003. This is an increase of 51.7% and 31.2% in exports and imports volume respectively in the previous year. The trade value in 2004 is estimated to increase further. From January to September 2004, bilateral trade between China and the ASEAN reached USD 75.45 billion, up 35.6 % year on year. The figure is said to be beyond 100 billion US dollars for the whole year.

Editor: Olivia 

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