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Trade with ASEAN up 26% in 1st quarter

(Xinhua)
Updated: 2008-05-02 09:15

China's foreign trade with members of Association of Southeast Asian Nations (ASEAN) amounted to $54.4 billion in the first quarter of this year, a growth of 26 percent on the same period of last year, sources with the Ministry of Commerce said on Friday.

But the sources did not reveal the export and import value of the trade.

Last year, the bilateral trade reached $202.5 billion, representing a year-on-year increase of 26 percent and achieving the $200-billion annual goal three years ahead of schedule, the sources added.

Besides trade, two-way investment, contracted engineering and labor cooperation between China and ASEAN members have developed rapidly.

By the end of 2007, China's investment in ASEAN members and the latter's input in the former accumulated to $48.9 billion, according to the commerce ministry sources.