ASEAN-China trade to hit $200b in 2008
MENAFN - 16/09/2007
ASEAN-China trade to hit $200b in 2008
(MENAFN) China’s Vice Commerce Minister stated that the value of trade between China and ASEAN can hit $200 billion next year in advance of the targeted ASEAN-China Free Trade Area in 2010 as tariff cuts take effect, Iran Daily reported.
He pointed out that trade in the first seven months of this year rose by 27.5 percent to $109.7 billion and is estimated to reach $190 billion for the whole year, and expected to surpass $200 billion in 2008, two years earlier than planned.
He added that as both sides continue to lower tariffs, China’s exports to ASEAN surged 34 percent to $51 billion between January and July this year while imports grew 22.4 percent to $58.77 billion.
