China's first South Asia Expo generates $ 17.47 billion

BEIJING: The first South Asia Expo organised by China this month has generated business transactions worth about $ 17.47 billion, official media here reported today.

The four-day expo from June 6 was held along with 21st China Kunming Import and Export Fair at the Chinese city of Kunming, capital of southwest China's Yunnan Province.

According to statistics from the expos' organising committee, transaction volume during both of the five-day fairs reached $ 17.47 billion up 116.5 per cent compared with last year, state-run Xinhua news agency reported.

About 130 Indian businessmen took part in both the events. China's trade volume with various South Asian countries has increased from $ 34.7 billion in 2006 to $ 93 billion in 2012, the bulk of it with India which last year amounted to over $ 66 billion.

Rafeeque Ahmed, president of the Federation of Indian Export Organisations, who headed the Indian business delegation said it is necessary for China and India to develop their trade relations.

India hopes to make joint efforts with China in infrastructure construction, skills training, as well as industrial research and development.