Monday, May 12, 2008

EU becomes Fujian's largest export market

EU has overtaken the U.S. as the largest export market of Fujian Province. According to Customs statistics, Fujian's exports to the United States is 2.549 billion U.S. dollars in the first quarter, a slight increase of 9.9% over the same period last year, and 13% lower than the average exports growth rate of the province in the same period.

The rapid development of free trade zone construction between China and ASEAN, Pakistan, Chile, as well as the establishment of China-Africa new-type strategic partnership, has provided opportunities for the development of the Fujian Provincial Foreign Trade and helped enterprises to "go global". At the same time, as the economy of the emerging markets suffered relatively less from the U.S.sub-prime loan crisis, Fujian's enterprises should vigorously explore emerging markets like South Asia, the Middle East, Africa, Latin America and Oceania so as to reduce the reliance on Europe and the U.S. markets.

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