China's ASEAN trade soars 41 percent in 1995<\/p>\n
BEIJING (AFP): Trade volume between China and the seven ASEAN
\nnations soared 41 percent in 1995 and the \"strong momentum\" is
\nexpected to continue this year, Xinhua quoted an official as
\nsaying yesterday.<\/p>\n
Volume last year hit US$19.48 billion, Ministry of Foreign
\nTrade and Economic Cooperation (MOFTEC) official Xie Ruixia said,
\nnoting that the rate of increase over 1994 was double that of
\nChina's overall trade.<\/p>\n
Xinhua said imports and exports were balanced.<\/p>\n
\"Economic and trade cooperation between China and the
\nAssociation of Southeast Asian Nations (ASEAN) will maintain its
\nstrong momentum this year,\" said Xie, pointing to the favorable
\nenvironment created by regional political stability and improving
\ninvestment policies.<\/p>\n
ASEAN groups Brunei, Indonesia, Malaysia, the Philippines,
\nSingapore, Thailand and, since 1995, Vietnam.<\/p>\n
Xie, who heads MOFTEC's Asian Affairs Department, said that in
\naddition to rapid increases in volume, China's export mix to
\nASEAN nations had also improved last year, with the focus
\nshifting from traditional textiles and light industrial goods to
\nsteel, mechanical and electronics items.<\/p>\n
Primary products such as crude oil, grains, sugar and plywood
\naccounted for most of China's imports from the region, she said.<\/p>\n
China has in recent years actively promoted cooperation with
\nASEAN, which, until Vietnam's addition, was composed solely of
\nnon-communist states.<\/p>\n
Beijing in 1991 became a \"dialogue partner\" of the regional
\ngrouping, which was set up in 1967.<\/p>",
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