The economic and trade exchanges between China and South Asia have been developing well
发布日期：2025-06-11
The trade volume has doubled over the past ten years, with an average annual growth rate of approximately 6.3%
The economic and trade exchanges between China and South Asia have been developing well
The 9th China-South Asia Expo will be held in Kunming, Yunnan Province from June 19th to 24th, 2025, and will become one of the important economic and trade exchange activities between China and South Asian countries this year. Recently, at a press conference held by the Information Office of The State Council, Vice Minister of Commerce Yan Dong disclosed that in recent years, China and South Asian countries have deepened practical cooperation in various fields, and economic and trade exchanges have maintained a good momentum of development. In 2024, the trade volume between China and South Asian countries will approach 200 billion US dollars, doubling within a decade, with an average annual growth rate of approximately 6.3%.
First, trade cooperation has made steady progress. China has been the largest trading partner of Pakistan, Bangladesh and other countries for many consecutive years. South Asian goods such as cashmere products from Nepal, lapis lazuli from Afghanistan, jewelry from India and tea and spices from Sri Lanka are highly praised by Chinese consumers.
Second, there are numerous highlights in investment cooperation. In recent years, the construction of the "upgraded version" of the China-Pakistan Economic Corridor has been advancing in an orderly manner. Investment and cooperation projects such as the Hambantota Port in Sri Lanka, the Payala Power Station in Bangladesh, and the Sankim Kola Hydropower Station in Nepal have been successively implemented, injecting strong impetus into regional economic growth. A large number of Chinese-funded enterprises have been deeply engaged in South Asia, deepening cooperation in industries such as textiles and electronics in accordance with local conditions. While achieving their own development, they have also promoted the development of export-oriented industries in the region.
Third, opening up and cooperation have gradually expanded. The China-Maldives Free Trade Agreement officially came into effect at the beginning of this year. China and Bangladesh are currently initiating negotiations to upgrade their investment agreement, providing institutional guarantees for the liberalization and facilitation of trade and investment between the two sides. China has granted zero-tariff treatment to 100% of the tariff items of products exported to China from the least developed countries in South Asia, including Nepal, Bangladesh and Afghanistan, helping South Asian countries expand their exports to China and share the opportunities of the huge Chinese market.
Wang Liping, director of the Department of Asia of the Ministry of Commerce, said that South Asian countries are rich in economic crops such as tea and jute. However, how to increase the application scenarios and sales channels of these products, how to use technological means to enhance their commodity value, and how to expand the export of related products to the Chinese and global markets, etc., to solve these problems, it is far from enough to rely solely on the efforts of the government. It is necessary to bring together industrial, academic and scientific researchers for extensive consultation and give full play to the role of interaction among all parties. It is hoped that through relevant activities, mutual understanding can be enhanced, consensus among all parties can be reached, communication channels and cooperation models can be enriched, and high-quality development of economic and trade cooperation between China and South Asia can be jointly promoted.
"Supply chain cooperation is an important part of economic and trade cooperation between China and South Asian countries. It has played a positive role in enhancing the export capacity of South Asian countries and promoting the transformation and upgrading of their national economies." " Yan Dong said that China is willing to sign new or upgraded Bilateral agreements on the Promotion and Protection of Investment with South Asian countries that are willing, negotiate and sign memorandums of understanding on cooperation in areas such as trade facilitation, supply chains and e-commerce, and plan multilateral and bilateral economic and trade cooperation mechanisms. Together, we will build a smooth, stable and resilient industrial and supply chain between China and South Asia, and further deepen trade and investment cooperation. (Source: Overseas Edition of Peoples Daily）
