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Eastern Economic Forum

ASEAN takes top spot as China's primary trading partner — expert

The trade and economic structure of China will go through adjustments and changes because trade relations between China and the US are becoming more complicated day after day and the Sino-European relations are becoming increasingly sensitive, Yu Miaojie noted

VLADIVOSTOK, September 11. /TASS/. Member-states of the Association of Southeast Asian Nations (ASEAN) have become the main economic and trade partner of China and outpaced the US and the European Union, Rector of the Liaoning University Yu Miaojie told TASS on the sidelines of the 8th Eastern Economic Forum (EEF).

The trade and economic structure of China will go through adjustments and changes because trade relations between China and the US are becoming more complicated day after day and the Sino-European relations are becoming increasingly sensitive, the expert noted.

"ASEAN countries have already substituted the United States and the European Union as the largest economic and trade partner of China," Yu said. "BRICS, that will expand soon, will also be among China’s major trade partners. The scale of trade between the China and the US can be at the second or the third place in terms of the volume in the future," he added.

The trade between Russia and China will grow further, the expert noted. "I believe the trade turnover between China and Russia will continue growth. The share of Russia in the China's foreign trade will expand and the China's share in the economic space of Russia will grow. The trade and economic cooperation is well in interests of the two nations," Yu said.

The 8th Eastern Economic Forum is being held in Vladivostok on September 10-13, 2023. The slogan for this year’s forum is: On the Path to Partnership Peace and Prosperity. The Roscongress Foundation is the event organizer. TASS is the EEF’s general information partner.

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