
As China and Central Asian countries contemplate a Silk Road economic belt, a trade group urged solving trade disputes and unbalanced investment between the two sides. Zhang Wei, vice president of the China Council for the Promotion of International Trade, said Friday that the organization has been working on such problems since Chinese President Xi Jinping proposed the belt and greater regional cooperation last year. Zhang urges removal of trade barriers that "constantly occur" in customs clearing, technical standards and service trade. A lack of uniform standards in inspection and quarantine, transportation, and an inefficient visa system have also hindered trade and investment flows, Zhang said. Zhang made the remarks at the 18th Investment and Trade Forum for Cooperation between East and West China and the Silk Road International Expo, which opened on Friday in Xi'an, capital of northwest China's Shaanxi Province. China is now the largest trading partner of Kazakhstan and Turkmenistan and the second largest of Uzbekistan and Kyrgyzstan, but Zhang said the trade is unbalanced and needs upgrading. China mainly imports fuel and ores from Central Asian countries, while exporting labor-intensive products like textiles and light industrial products. China's investment in the region also focuses on mining and construction, but neglects the manufacturing sector. Zhang suggested the two sides raise proportions of hi-tech, high value-added products and self-owned brands in their trade. They should also enhance collaboration in non-resource investment, he added. China and Central Asian countries are on the historical Silk Road that extended across Asia and connected China to Europe.
GMT 09:43 2018 Tuesday ,23 January
Global unemployment down but working poverty rampantGMT 15:13 2018 Sunday ,21 January
All you need to know about Davos 2018GMT 22:33 2018 Saturday ,20 January
Calls for action over dirty money flowingGMT 04:42 2018 Saturday ,20 January
Storm caused 90 mn euros in damage: Dutch insurersGMT 07:06 2018 Friday ,19 January
China economy rebounds in 2017 with 6.9% growthGMT 11:35 2018 Thursday ,18 January
'Massive' infrastructure spending needed in AfricaGMT 14:29 2018 Wednesday ,17 January
GE takes one-off hit of $6.2 bn linked to insurance activitiesGMT 18:55 2018 Tuesday ,16 January
London stock market edges to new high

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©
Send your comments
Your comment as a visitor