ASEAN, promising market for Chinese firms
"The trade volume between China and the Association of Southeast Asian Nations (ASEAN) increases by 25 percent on average annually, and it means a huge commercial opportunity for enterprises of both sides,” the secretary-general of the China-ASEAN Center Ma Mingqiang said, “As long as Chinese enterprises find their orientations and bring their advantages into effect, they will be able to accomplish much in ASEAN markets.”
"Since the friendly dialogue mechanism was established more than 20 years ago, the trade volume between China and the ASEAN countries has been growing by 25 percent annually, indicating that the products of China and the ASEAN complement each other very much." Ma said that this complementarity is the major force promoting the growth of the bilateral trade.
According to data from the Ministry of Commerce of China, the trade volume between China and the ASEAN reached 362.33 billion U.S. dollars in 2011, setting a new high record and up 24 percent compared to that of 2010. In January of 2012, the ASEAN exceeded Japan for the first time to be the third largest trade partner of China.
Ma said that the force that drives the trade boom between China and the ASEAN comes from four aspects.
First, both China and the ASEAN are having rapid economic developments, and both of them are demanding more from external markets.
Second, the establishment of the China-ASEAN Free Trade Area has further released the economic complementarity between China and the ASEAN, and it is a major force driving the bilateral trade to increase.
China needs to import mechanical and electrical products, electronic components, palm oil, rubber and oil and gas from the ASEAN, and the bloc needs to import huge amounts of mechanical and electrical products, daily commodities and textile raw materials. Currently, both sides are important links of the international economic integration and international industrial chain and have found their orientations.
Third, the good political relations and cooperative mechanisms of various levels between China and the ASEAN are reliable political and systemic guarantees for the bilateral trade between the two sides and can make sure the smooth development of the trade.
Fourth, China and the ASEAN connected by both the water way and land way, and the geo-political advantage is a great convenience for the trade between the two sides.