Trade with China expected to double by 2010

22nd March 2005, Comments 0 comments

22 March 2005, BERLIN - China, already a major trade partner with Germany, is expected to grow even further in importance with the two-way volume projected to double to more than EUR 100 billion (US$ 131 billion) by the year 2010, Berlin said on Tuesday.

22 March 2005

BERLIN - China, already a major trade partner with Germany, is expected to grow even further in importance with the two-way volume projected to double to more than EUR 100 billion (US$ 131 billion) by the year 2010, Berlin said on Tuesday.

Economics Ministry specialist for China, Hans-Christian Reichel, made the prediction while unveiling the new 'Business Guide Deutschland China 2005/2006' in Berlin.

He said that by 2010, German direct investments in China are expected to double to a level of EUR 20 billion.

Germany is the most important trade partner for China in the European Union, while China is now the second most important trade partner, behind the United States, outside of Europe, he noted.

Bernd Schaaf, the Asia-Pacific region expert for the German Foreign Trade Office (BFAI), noted that in only 20 years' time, China had emerged to capture a 7 percent share of total world exports.

In electronics, the Chinese have long since surpassed Japan to gain top position in the world, he added.

The German-China business guide drawn up by the BFAI, the East Asia Association, the Institute for Asian Studies and the German- Asian Pacific Society, provides German and Chinese companies with investment guidelines and offers insights into opportunities from such major events as the 2008 Beijing Olympics or the 2010 world exposition in Shanghai.

DPA

Subject: German news

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