Ningbo export to ASEAN grows dramatically
- Details
- Category: Ningbo Business
- Published: Tuesday, 23 April 2013 08:42
In the first quarter of 2013, Ningbo made 5954 batches of exports to ASEAN, with a total value of US$300 million, an increase of 10.8% and 91.3% respectively. Under the background of sluggish growth in Western developed economies, ASEAN, as an emerging market, is expected to become a new economic growth point for exports.
In terms of the export commodity, light diesel oil, tuna products, wires and valves are among the products with the largest export value to ASEAN in the first quarter in Ningbo.
While in terms of target countries, Singapore, Thailand and Indonesia are the major destinations for Ningbo’s exports to ASEAN, accounting for 80% of total China's exports to ASEAN.
The economy in ASEAN has been developing well in recent years, with an ever-rising demand for imports of industrial products and consumer goods. According to the China-ASEAN Free Trade Area Agreement, the ASEAN's tariffs on Chinese goods will continue to decrease, and the number of countries with "zero tariff" and product varieties will continue to increase, leading to a further expanded market. According to the related inspection and quarantine departments, on the one hand, enterprises should make good use of the special concessions due to the free trade area agreement, by giving full play to the "golden key" function of the certificates of origin. On the other hand, they should strengthen the market research, make necessary adjustment of product structure according to market demands, and try to grasp the opportunities in the emerging markets.
