October 31, 2007

China expects to export more agriculture products in 2007

China's agriculture product exports is forecast to exceed US$35 billion for 2007, said Huo Jianguo, Chairman of China's Food and Livestock Product Importers and Exporters Association, at the China Import and Export Commodities Fair held in Guangzhou recently.

Despite trade barriers and a strengthening Chinese currency, Huo said China's agriculture products are still competitive in the world, mainly because the Chinese currency had not strengthened as much compared with other regional Asian currencies.

While Huo acknowledged that growing food safety concerns in Europe, US and Japan will likely impact on China's agriculture product exports next year, measures to ensure compliance to food quality standards will ensure sustainable export growth in the longer term.

RMB1=US$0.1338 (Oct 31)