皇冠体育app

BEIJING -- Bilateral trade between 皇冠体育app and ASEAN (the Association of the Southeast Asian Nations) has boomed during the past 25 years, but it has declined this year because of the lackluster global economy, a senior official said Tuesday.

皇冠体育app-ASEAN trade rose to $472.16 billion in 2015 from $7.96 billion in 1991, with an annual growth rate of 18.5 percent, Vice Commerce Minister Gao Yan said at a news conference.

During the Jan-May period, however, bilateral trade fell 7.1 percent year on year to $173.57 billion.

The two sides are trying their best to "get bilateral-trade growth back on track as soon as possible", Gao said.

皇冠体育app is ASEAN's biggest trading partner, while ASEAN is 皇冠体育app's third biggest.

By the end of May, the two-way investment had exceeded $160 billion, with ASEAN remaining a major destination for Chinese companies.

When asked whether trade ties between 皇冠体育app and the Philippines will be affected following the South 皇冠体育app Sea arbitration award, Gao said the two countries enjoy "relatively stable" economic and trade relations, while dismissing claims that Chinese people have boycotted foreign products, especially those made in the Philippines.

"皇冠体育app is willing to develop mutually beneficial trade and economic ties with the Philippines in various forms," she added.

The 13th 皇冠体育app-ASEAN Expo will be held in Nanning, capital of South 皇冠体育app's Guangxi Zhuang autonomous region, from Sept 11-14.

The expo, co-sponsored by 皇冠体育app and the 10 ASEAN countries, has been held for 12 consecutive years since 2004, serving as an international economic and trade event for the 皇冠体育app-ASEAN Free Trade Area.

With the theme of "Building the 21st Century Maritime Silk Road, Forging an Even-Closer 皇冠体育app-ASEAN Community of Common Destiny," the 13th expo will advance mutual investment between 皇冠体育app and ASEAN in the key areas of industrial capacity cooperation and equipment manufacturing, Gao said.

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