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Location: Home > 新闻·案例 > China Expected to Import $150 bln of Agricultural Products from ASEAN in Next 5 Years

China Expected to Import $150 bln of Agricultural Products from ASEAN in Next 5 Years

发布时间:2021.11.23

China Expected to Import $150 bln of Agricultural Products from ASEAN in Next 5 Years. For more information on export to China, please call SINOLOBEN, service Email: sinoloben@sloben.com.


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At the ASEAN-China Special Summit to Commemorate the 30th Anniversary of ASEAN-China Dialogue Relations held on November 22, the two sides announced to elevated bilateral relations to a comprehensive strategic partnership.

 
Since 2019, zero tariffs have covered more than 90% of China-ASEAN tax items. In 2020, the bilateral trade volume reached 684.6 billion U.S. dollars, and the scale of China-ASEAN trade has expanded 85 times in 30 years.
 
ASEAN became China's largest trading partner in 2020, and bilateral trade continued to maintain strong growth momentum this year, with bilateral trade reaching 4.08 trillion yuan ($639 billion) in the first three quarters, up 21.1 percent.
 
Most ASEAN countries are countries rich in agricultural resources, and are the world's important producers of agricultural products such as rice, palm oil, coffee, and aquatic products. China’s customs authority stated in September this year that nearly 1,500 agricultural products and foods from the ten ASEAN countries have been licensed to export to China. Taking fruit and vegetable products as an example, the China-ASEAN trade volume in 2020 is about US $15 billion, of which the total fruit exports of ASEAN countries to China are about US $6 billion, and the fresh durian alone will reach 2.3 billion U.S. dollars. From January to August of 2021, the China-ASEAN fruit and vegetable trade volume is close to the level of 2020, of which ASEAN fruit exports to China exceed US $6.4 billion.
 
China is ready to import more quality products from ASEAN, including buying up to US $150 billion worth of agricultural products from ASEAN in the next five years。
 
Among ASEAN members, Vietnam, Malaysia, and Thailand are the "main force" in trade with China. Among the commodities exported by these countries to China, agricultural products, especially fruit products, account for a very large export volume. In 2020, China’s agricultural imports amounted to US $ 170.8 billion, and US $150 is about China’s current annual agricultural imports. This news is undoubtedly a major positive for both sides’ agricultural trade.

For further information about China's imports & exports or foreign trade service, please contact:

Ms. Linda Li

0086(0)21 3538 3306

sinoloben@thecustoms.com.cn


As food importer & food distributor based in Frankfurt and Shanghai, Sinoloben Europa Trading GmbH helps client export to China and bring your food products to International Expo, e.g. China International Import Expo (CIIE), the world's largest import-themed expo.  Transferred from the network, such as intrusion and deletion.


            

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