(ECNS) -- Trade between China and Central and Eastern European countries(CEECs) has increased by 8.1 percent annually since 2012, while imports from these countries grew at an average annual rate of 9.2 percent, said China’s Ministry of Commerce (MOC) at a press conference held Friday.
Economic and trade cooperation between China and CEECs has made positive progress since the institution was established in 2012, said the MOF.
According to the ministry, in the first quarter of 2023, the trade volume between both sides reached $33.3 billion, an increase of 1.6 percent, marking a stable and positive start.
Up to now, the scale of two-way investment between China and CEECs has reached about$20 billion. China's direct investment in CEECs rose by 148 percent year on year in the first quarter of the year. Meanwhile, Chinese companies are keen to invest in these regions in areas such as auto parts, home appliances, medicine, logistics, energy and minerals, the MOFCOM said.
In 2022, contracts signed by both sides were valued at $9.36 billion. Moreover, China-Europe freight trains operate well, with 16,000 trains providing logistics services to China and European countries in 2022, a year-on-year increase of nine percent.
China-CEEC Expo is an important bridge and link to deepen China-Central and Eastern Europe economic and trade cooperation, said Vice Minister of Commerce Li Fei.
It will be built into a major platform to display products from CEECs as well as a channel for China to expand imports from these countries, promoting the high-quality development of economic and trade cooperation between China and CEECs, Li added.