China, southern neighbors seek trade balance

As China is shifting from export-oriented economy to domestic-demand orientation and encouraging more enterprises to go global, he said its southern neighbors should also adjust the structures of trading products and industries to attract their Chinese buyers.

Over the past decades, Yunnan have been exporting to South Asian countries mainly manufactured goods like mechanical and electrical commodities, while its imports have been resource products, thus giving itself a trade advantage and creating large trade surpluses.

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Bangladeshi Prime Minister Sheikh Hasina said at a forum in the expo that she welcomed China to import more clothes, handicrafts and leather products from Bangladesh. Meanwhile, she hoped Chinese investors to focus more on high value-added goods in fields of medicine, shipbuilding and communication.

Besides changing export products, South Asian countries are urged to upgrade their own industries to attract more investments.

Ismail Asif, President of Chamber of Commerce and Industry, South Asian Association for Regional Cooperation (SAARC), suggested countries in the region deepen cooperation in new fields, such as energy, education, tourism and transportation in addition to traditional industries, and reduce trade barriers.

Li Jiming, head of the Yunnan International Exhibition Bureau, agreed his view.

In order to reverse trade imbalance, South Asian countries should unlock potential in high value-added and emerging industries like tourism, software, medical treatment and education.

Actually, China has taken a string of measures to boost its investment in South Asia. On the one hand, it invites foreign merchants to attend various expos and promotes their products. On the other, it organizes Chinese companies to buy in South Asia and offers consultations and assistance.

Import and export balance and industrial upgrading will promote trade and economic cooperation between China and its southern neighbors to a new high, Fazal ur Rahman said.

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