ASEAN-China Trade Approximates US$600 Billion In Seven Months

BEIJING, Sept 9 (Bernama-VNA) -- Trade between the Association of Southeast Asian Nations (ASEAN) and China reached US$597 billion in the first seven months of this year, up 8.2 per cent year-on-year and accounting for 16.7 per cent of China’s total foreign trade during the period, according to the Chinese Commerce Ministry.

China has remained ASEAN's top trading partner for 16 consecutive years while ASEAN has been China's largest for five straight years, Vietnam news agency (VNA) reported Vice Commerce Minister Yan Dong.

In 2024, China's bilateral trade with Vietnam, Malaysia, Indonesia, Thailand, and Singapore each exceeded US$100 billion. In particular, trade with Vietnam and Malaysia surpassed US$200 billion, Yan noted.

He said negotiations on Version 3.0 of the China - ASEAN Free Trade Area (CAFTA 3.0) have been concluded, marking the first time a comprehensive cooperation framework has been established to link both "hard connectivity" in digital infrastructure and "soft connectivity" in rules and standards, alongside upgraded regulations.

With steady progress in cooperation and the growing institutional benefits of trade and investment facilitation, the scope of China - ASEAN regional economic integration has been continuously expanded and deepened.

Yan added that the 22nd China - ASEAN Expo (CAEXPO) will take place in Nanning, the capital of China’s Guangxi Zhuang Autonomous Region, from Sept 17 to 21, with about 3,200 exhibitors from 45 countries expected to participate in.

This year’s CAEXPO will feature new exhibition areas, including those on artificial intelligence (AI), new quality productive forces, the blue economy, and premium foreign trade products, showcasing the latest achievements in China - ASEAN cooperation.

-- BERNAMA-VNA