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METALEX VIETNAM: Experience the Increasing Machine Tools and Metal Working Industries
METALEX VIETNAM 2011 saw its opening on October 6-8, 2011 at Saigon Exhibition and Convention Center, SECC organized by Reed Tradex. The concurrent event was NEPCON VIETNAM.
METALEX is the largest exhibition in ASEAN. METALEX VIETNAM 2011 attracted around 200 companies from Thailand, Vietnam, Taiwan, Singapore, Japan, Korea, China mainland, Malaysia, Indonesia, USA, France, UK, Germany, Belgium, Italy, etc exhibiting products such as Machine Tools and Machining Centers, Sheet Metalworking, Welding Technology, Factory Automation, Pump & Valve, Material Handling, Mold and Die, Wire, Tube, Cable Technology, Tools and Tooling, Control Measurement and so on.
Vietnam, as the developing country and a member of WTO, boosted a GDP of $103.6 billion dollars and a per capita gross domestic product of $1,174 dollars in 2010. The country has trade relationships with over 150 countries and regions. Vietnam’s trade with other countries has been keeping rising which play an important role in the country's economy development. Machines, parts, product oil, steel, textile material, leather and piece goods are the main imports from China mainland, Taiwan, Singapore, Japan, and Korea.
Vietnam has explored many industrial zones to meet the increasing need from the manufacturing, and attracted investment through favorable tariffs and renting. The annual rate of Vietnam’s industrial production rose 19% with an annual growth rate of 30% for imported modern technology. The World Bank predicted that the industrial production of Vietnam will post over 14.5% gains in 2011. It should be noted that 6% of Vietnam’s metal working and industrial products are domestically made, and the remaining are imported. Machine tools and parts take up the largest proportion of the imported products. Vietnam is the fifth largest motorcycle manufacturing strategy market in the world. And the motorcycle sales reached over 2.5-3 million units per year during the past five years. Therefore, Vietnam’s part market is very promising.
Trade value between China and ASEAN keeps fast rising since China-ASEAN Free Trade Area (FTA) was established. The trade value between China and ASEAN has surpassed trade value between China and Japan till now in 2011. ASEAN has become the third largest trade partner of China.
The two parts go on to communicate with each and encourage investment and cooperation. China currently is setting up five Economic and Trade Cooperation Zone with countries of ASEAN. The preliminary amount of investment reached $800 million dollars or more. China plans to build such kinds of zones with each of the member of ASEAN within five years. Moreover, China keeps encouraging domestic companies to invest in ASEAN and strengthening their cooperation in textile, steel, machinery, shipbuilding, chemicals, information, auto, etc.
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