Bilateral trade volume between China and France saw a record US$62.9 million in 2018 with 15.5% year on year growth, the Ministry of Commerce said Thursday.

France’s exports of agricultural products, pharmaceuticals, cosmetics and luxury clothing are experiencing fast growth, MOF spokesperson Gao Feng, told a news conference.

In the first two months of 2019, bilateral trade volume climbed 19.4% year on year to US$10.6 billion while China’s imports from France grew 42.2%. During the first China International Import Expo in November 2018, French exhibitors ranked second in sales among exhibitors from all countries.

In terms of investment, France is the fourth largest country in the European Union to invest in China and ranks third in attracting Chinese investment in the EU. In 2018, direct investment from France to China grew 28%, while investment in reverse increased 12%.

By the end of January, the total investment between the two countries surpassed US$ 40 billion.

Gao Feng said the two countries have kept deepening cooperation in traditional industries such as nuclear, aviation and automobile industries, while actively expanding cooperation in emerging industries including environmental protection, elder-care and finance.