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Chinese investment in Asean textile sector rises sharply
26
Dec '12
There has been a significant improvement in China-Asean bilateral trade during the past ten years since the signing of the “Comprehensive Economic Cooperation Framework Agreement” between China and the Association of Southeast Asian Nations (Asean).
 
In fact, Asean has become the biggest market for Chinese firms to invest abroad, especially after the establishment of the China-Asean Free Trade Area (FTA) in 2010.
 
Several new platforms have come up in recent years that provide enhanced opportunities for Chinese companies that want to invest in Asean countries. These include China-Asean Expo and the China-Asean Business and Investment Summit, in addition to preferential terms of trade under the FTA.
 
As per the statistics of various departments of the Cambodian Government, over 80 percent of the more than 200 foreign textile and garment enterprises operating in the Kingdom are from China, Hong Kong, Macau and Taiwan.
 
China invested US$ 566.3 million in 461 Indonesian projects during the last five years, and has become the largest foreign investor in the country.
 
As of October-end 2012, Chinese textile enterprises have invested US$ 18.5 billion in Asean countries, 70 percent of which was invested in the past three years.
 
Last year, Chinese investment in Asean nations increased by 34 percent year-on-year. 
 

Fibre2fashion News Desk - China

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