China hopefully becomes U.S. third largest export market, official

China hopefully becomes the third largest export market of the United States at the end of this year, surpassing Japan, said U.S. Under Secretary of Commerce for International Trade Franklin Lavin here Wednesday.

"My prediction is, by the end of this year, China will be the United States' third largest export market, surpassing Japan, if this trend continues," Lavin told reporters during a visit to China's business hub of Shanghai.

According to the statistics of the U.S. Department of Commerce, the export from the United States to China's mainland in 2005 increased 20.5 percent over 2004.

It grew 36.5 percent in the first five months of this year over the same period in 2005, he said.

Considering the base was very large before, such a rapid growth indicates that the Sino-US trade is developing in a "positive" direction, Lavin said.

America's top export market is Canada, followed by Mexico, while China is currently ranking at the fourth place.

He attributed the increase to closer cooperation between the two countries, rather than other factors such as the weakening of the dollar.

"You wouldn't call (China) a very easy market to do business, but it is easier than before," he said during an interview with the Wall Street Journal Asia Tuesday.

Shanghai is the first stop of Lavin's seven-day China visit as guest of the Ministry of Commerce.

He will also visit Beijing and hold talks with Chinese Minister of Commerce Bo Xilai, aiming to expand trade cooperation between the two countries.

Source: Xinhua