The bilateral trade volume between China and the ASEAN (Association of Southeast Asian Nations) members increased at an annual rate of 20 percent during the past 15 years, according to a source with the ongoing summit meeting of the third China-ASEAN exposition.

Wu Zhengping, vice director of the Asian department of the Ministry of Commerce, said China and ASEAN members made great achievements in economic cooperation during the past 15 years, which is proved by the rapidly growing bilateral trade volume.

In 2005, trade value between China and ASEAN member countries reached 130.3 billion U.S. dollars, increasing 23 percent on a year-on-year basis.

From January to April in 2006, the bilateral trade volume amounted to 47 billion U.S. dollars, growing 22 percent, said the official.

ASEAN has become China's fourth largest trade partner after the United States, European Union and Japan last year. At the same time, China is also the fourth largest trade partner of ASEAN.

Source: Xinhua