| China welcomes import from ASEAN despite trade deficit |
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| Friday,November 03,2006 Posted: 15:16 BJT(0716 GMT) Gov.cn |
China welcomes goods from ASEAN countries despite a trade deficit of 20 billion U.S. dollars in 2005, said Chinese Commerce Minister Bo Xilai in Nanning on Tuesday.
"China's market is open, vast. The two-way trade is mutually beneficial," said Bo at the third China-ASEAN Expo that opened here on Tuesday. "I hope China's vast market could bring benefits to companies in ASEAN."
He estimated an over 20 percent growth rate for bilateral trade this year. Trade between China and ASEAN surged by 23 percent year-on-year to 130 billion U.S. dollars in 2005.
Chinese Premier Wen Jiabao set the goal to raise the bilateral trade to 200 billion U.S. dollars in 2010, when the envisioned China-ASEAN Free Trade Area is completed, at Monday's commemorative summit.
Bo said the goal is "encouraging" as so far China only register an annual trade of more than 200 billion U.S. dollars with three economic entities, namely the United States, European Union and Japan.
China and ASEAN are scheduled to build up a free trade area by 2010. Bo said that upon completion, it will be world most populous free trade area, steering Asian common development and prosperity.
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