North China’s Tianjin Municipality reported an increase in its Trade with Countries participating in the Belt & Road Initiative (BRI) and ASEAN (Association of Southeast Asian Nations) Countries in the first two months of 2020 when its foreign trade dropped 9.8 percent.
According to the statistics released by local customs authorities on Sunday, Tianjin’s foreign trade with countries along the BRI valued 25.3 billion yuan from January to February, an increase of 6.2 percent year on year and accounting for 25.5 percent of its total foreign trade.
During the period, its trade with ASEAN Countries reached 12.7 billion yuan, increasing 7.8 percent on the year and taking up 12.8 percent of the total foreign trade.
However, hit by the epidemic and influenced by the Spring Festival factors, Tianjin’s Foreign Trade dropped 9.8 percent on year to 99.06 billion yuan in the first two months of this year.
An Official with Tianjin Customs said that with the implementation of measures to accelerate the resumption of work, stabilise foreign trade and promote economic growth, Tianjin’s foreign trade has shown strong resilience.
The decline of import in February has slowed significantly.