Business

PICs are important trade partners of China

October 31, 2022 5:50 am

Pictured above is the Suva Port. [File Photo]

Pacific Island Countries are important economic and trade partners of China.

According to Chinese Ambassador Qian Bo, trade between these countries has grown over the years.

Bo says the total volume of trade between China and PICs increased from $351 million to more than $12 billion dollars in 30 years, from 1992 to 2021.

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“China has become a major trading partner of more than 140 countries and regions now ranks first in the world in terms of trade in goods, and leads the world in attracting foreign investment and outbound investment.”

Bo claims that by the end of 2022, China will have made direct investments totalling more than $6 billion in Pacific Island countries with diplomatic relations with China.