| Briefing of Economic and Trade Relations between China and the Federated States of Micronesia |
|
| 2008-07-25 13:34 mofcom |
1. Bilateral Trade
According to the statistics from China Customs, the bilateral trade volume between China and Micronesia reached USD9.492m in 2007, up by 221.9% year-on-year, among which, the export to Micronesia from China totaled USD9.172m, up by 218.9% year-on-year, and the import from Micronesia by China totaled USD320,000, up by 341.9% year-on-year.
From Jan. to May in 2008, the bilateral trade volume between China and Micronesia reached USD1.29m, down by 72% year-on-year, among which, the export to Micronesia from China totaled USD1.28m, down by 72% year-on-year, and the import from Micronesia by China totaled USD10,000, up by 643% year-on-year.
The exports to Micronesia from China are mainly mechanical and electrical products, yarns, agricultural products and etc. The imports from Micronesia by China are mainly frozen fish, sawn timbers and logs.
2. China’s Investment in Micronesia
By the end of 2007, China’s non-financial direct investment in Micronesia totaled USD1.16m accumulatively.
3. Economic and Technical Cooperation
By the end of 2007, Chinese enterprises have accumulatively concluded USD380m economic and technical contracts with Micronesia and realized USD310m turnover.
4. Major Economic and Trade Agreements between Chinese and Micronesian Governments
November,1999 Intergovernmental Trade Agreement
May, 2008 MOU on Chinese Tourist Groups’ Visit to Micronesia |
