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February 13, 2011

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Xinjiang trade increases

FOREIGN trade has increased rapidly in the Xinjiang Uygur Autonomous Region during the past five years, regional authorities said yesterday.

From 2006 to 2010, the region's foreign trade amounted to US$76 billion, up more than 230 percent from the 2001-05 period, said He Yiming, director of the Xinjiang Autonomous Regional Department of Commerce.

Foreign direct investment in Xinjiang totaled US$870 million in the past five years, more than triple the 2001-2005 period.

"In the past five years, Xinjiang has taken advantage of its location to strengthen economic links with neighboring countries and explore markets in central, western and southern Asia, as well as Russia," He said.

He said Xinjiang still had potential to develop markets in neighboring countries, especially Kazakhstan, Russia, Tajikistan, Uzbekistan and Azerbaijan, as those countries shake off the effects of the global economic downturn.


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