By Qiu Quanlin (China Daily)
Updated: 2007-07-27 09:01

Last year, China's trade volume with the six Pan-Beibu Bay countries totaled $131 billion, accounting for 81.3 percent of the country's trade with ASEAN members, Liu said.

Liu said China will sign an economic cooperative framework with the six other countries.

"Under the framework, we will first look forward to cooperative projects in some key industrial areas, for example port cluster construction," Liu said.

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Guangxi, which is seen as a gateway to Southeast Asia, is the only region in Southwest China that has three port cities: Beihai, Qinzhou and Fangchenggang.

"Cooperation in harbor construction with the Pan-Beibu Bay countries will help develop logistics and attract more foreign-oriented companies," Liu said.

Fredric Tsao, chairman of the IMC Group in Singapore, said his company will soon sign agreements for three port projects with Guangxi.

"All these projects will be located in the port cities. We have seen a huge market potential here," said Tsao, who added that the company is also planning to invest in area's tourism sector.

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