Jiangsu’s trade with Latin America hits 316.98 billion yuan in 10 months, up 23.4%

2022-12-01 15:28:00

In the first 10 months of this year, Jiangsu’s trade with countries in Latin America, including Brazil, Argentina and Cuba, reached 316.98 billion yuan, up 23.4% year-on-year, according to Nanjing Customs District.

On November 28, Xuchuan Chemical based in Suzhou shipped 26.3 tonnes of polyurethane stock solution for Brazil under the supervision of Taicang Customs House subordinate to Nanjing Customs District. Xuchuan Chemical’s customs manager Shen Liudi said the company exported 2,300 tonnes of products to Brazil in 10 months, a year-on-year growth of 44.3%.

Customs officers make inspections in a company in Taicang. Photo/Yang Zehao

Zhangjiagang, as a national wool export base, has also actively tapped into international markets such as Latin America. Zhangjiagang Yangtse Wool Combing Co Ltd, specialized in the production of fine wool grades, has recently delivered wool blends worth $378,000 to Mexico.

The company’s general manager Zhang Jun said exports to Latin America amounted to $11 million in 10 months thanks to effective marketing and efficient customs clearance services.

The economies of Jiangsu and Latin America are highly complementary and there is a huge potential for cooperation. Nanjing Customs will continue to implement measures to stabilize foreign trade and enhance its quality, such as optimizing the business environment and guiding enterprises to enjoy the relevant support policies as well as opportunities in the Belt and Road Initiative.