Shaanxi-ASEAN 2010 Trade Value Topped USD1.6bn

The trade value between Shaanxi Province, Northwestern China, and the ASEAN came to USD 1.655 billion in 2010, and the ASEAN has become the third biggest trade partner with the province, according to people from the Shaanxi-ASEAN small and medium companies economic and trade fair.

The trade volume between Shaanxi and the ASEAN member countries has been on the robust growth in recent years. The trade value last year soared by 170 percent compared with the previous year, which accounted for 22.48 percent of the province's foreign trade value. In the meanwhile, the province racked up USD 182 million in construction contract value in the ASEAN nations, leaping by 55.56 percent year on year, and the figure made up 13.83 percent of its foreign trade value.

Shaanxi Allway Minerals and Science Technology Co., Ltd. builds a laterite nickel ore project with an investment of USD 54 million in Subaim nickel mining area, Indonesia. Moreover, Shaanxi Yanchang Petroleum (Group) Co., Ltd. explores natural gas blocks with partners in Thailand.