ASEAN-China trade to surpass US$1 trillion by 2025
Two-way trade between the Association of Southeast Asian Nations (ASEAN) and China is expected to exceed US$1 trillion by the end of 2025.
Indonesian Ambassador to China Djauhari Oratmangun confirmed this optimistic forecast, highlighting ASEAN's status as China's largest regional trading partner, News.Az reports, citing foreign media.
This trade outlook follows the recent upgrade of the ASEAN-China Free Trade Area. The revised agreement specifically targets enhanced inclusivity for small and medium-sized enterprises, a significant boon for Southeast Asia's economy where such businesses form the backbone.
Bilateral trade has seen remarkable acceleration over the past decades. Chinese customs data highlights this growth, with trade reaching nearly US$989.9 billion in 2024. This represents a substantial increase from just US$105 billion recorded in 2004, underscoring the deepening economic ties.
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