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Guangzhou to increase trade with Indonesia through ACFTA agreement

UserPost

1:48 pm
June 5, 2010


admin

Admin

posts 215

The Guangzhou branch of the China Council for the Promotion of
International Trade’s (CCPIT) plans to boost trade between Guangzhou and
Indonesia by more than 10 percent this year from US$1.45 billion in
2009, a trade delegate said.

“There are still many sectors to be
explored by our countries under the ASEAN-China Free Trade Area [ACFTA]
to increase our two-way trade,” said CCPIT Guangzhou branch president
Zeng Kaizhang at the opening of China (Guangzhou) — Indonesia Economic
and Business Cooperation Forum in Jakarta.

The ACFTA took effect
on Jan. 1 this year.

Zeng said that from January to April,
Indonesia’s exports to Guangzhou had increased by 206.8 percent to $586
million from the same period last year. Indonesia’s imports from
Guangzhou increased by 140.5 percent to $233 million.

In the
forum, Guangzhou expressed interested in exporting more products, such
machinery, textiles, furniture and pharmaceuticals, to the Indonesian
market.

“We could import more coal, wood, rubber and mining
products from Indonesia,” Zhen said.
Guangzhou is a city in the
southern province of Guangdong in mainland China with an annual economic
turnover of more than 900 billion yuan ($131.8 billion) and is known as
one of the five central cities in China. In 2009, the city’s total
imports and exports reached $76.74 billion.

Deputy to the Jakarta
governor for transportation affairs Sutanto Soehodho, said that more
importantly, the forum would enhance the recognition of Indonesian
products ranging from mechanical equipment, electronics, building
materials, hardware, automobiles, food and pharmaceuticals to garments.

The
Guangzhou delegation for the event consisted of more than 200
executives representing the automobile, chemical, machinery and
equipment, alternative energy, pharmaceutical, software, animation, and
leather product industries.  

The delegation expects to reach
deals worth 2.8 billion yuan during their trips to Indonesia, Singapore
and Cambodia.

At present, 2,250 Guangzhou enterprises do business
with their counterparts in Southeast Asian countries, including 80
business with an annual value of more than $50 million. Statistics show
that trade between Guangzhou and ASEAN in 2009 totaled $8.19 billion,
with Guangzhou importing $5.07 billion worth of goods from Southeast
Asia, making the city a major trading partner for the region. (not)

Indonesia’s
imports from Guangzhou increased by 140.5 percent to $233 million in
2009.


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