Guizhou strengthens trade exchange with BRI countries

From January to October this year, Guizhou's trade with countries involved in the Belt and Road Initiative (BRI countries) increased by 29.4 percent, its trade with the Association of Southeast Asian Nations (ASEAN) countries increased by 42.8 percent, and its trade with other Regional Comprehensive Economic Partnership (RCEP) member countries increased by 20.3 percent.

The Guiyang International Land Port. [Photo/WeChat account of Guiyang Foreign Affairs Office]

In 2023 and 2024, Guizhou's exports to other RCEP member countries increased by 13.5 percent and 18.7 percent, respectively. During the 14th Five-Year Plan period (2021-25), Guizhou carried out economic and trade exchanges with 195 countries and regions, with trade partners continuously increasing.

 The average annual growth rates of imports and exports to and from BRI and ASEAN countries were 23.4 percent and 21.5 percent, respectively. ASEAN has now been Guizhou's largest trade partner for three consecutive years.

Based on its geographical advantages, industrial characteristics, and market priorities, Guizhou has identified Southeast Asia, South Asia, and Central Asia in recent years as the main direction for opening-up, promoting the export of Guizhou's advantageous products, attracting foreign investment to key areas, and deepening economic and trade cooperation.