Vietnam-Guangxi Trade Rises to US$1.5Bln in 2006

Vietnam continued as the biggest trade partner of China’s Guangxi province, among ASEAN member countries, with a total trade value of US$1.5 billion in 2006, up 53.37 per cent on-year, the Guangxi customs sector said on January 18.

 

The Southeast Asian country exported US$720 million worth of goods to the province while spending US$750 million on imports, resulting in a trade deficit of US$30 million with Guangxi during the year. The exact comparisons with the previous year, however, were not announced.

 

Last year, bilateral trade between Guangxi and ASEAN posted at US$1.83 billion, up five times over 2001. Of which, the province earned up to US$1.05 billion from staple exports of automobiles, motorbikes, consumption goods and mechanical and electronic products to the association, while importing mainly fuels, minerals, rubber, fruits, cassava and cooking oil.

 

In recent years, Guangxi and Vietnamese localities have enjoyed time-honored cooperative relations and their economic and trade ties have developed rapidly.

 

Sharing similarities in geography and customs, and in the context China and Vietnam’s growing economic relations, Guangxi province businesses have to date invested in 49 projects in Vietnam with a total registered capital of over US$330 million. (Vietnam & World Economy, Vietnam Panorama)