Chinese expert talks about trade cooperation potential with Vietnam

Hanoi (VNA) – Professor Pan Jin’e from the Chinese Academy of Social Sciences highlighted the economic-trade cooperation potential between Vietnam and China in an interview granted to the Vietnam News Agency on September 14.

She said Vietnam's new leaders are active to promote the two countries’ relations, especially trade links, benefiting the development of economic ties in the future.

Chinese businesses are showing more interest in the Vietnamese market, she said, describing this as a positive factor for the bilateral trade rapport.

Despite global economic downturn in recent years, Vietnam-China trade has continuously increased, demonstrating a huge potential in this field, she said.

She noted that Vietnamese Prime Minister Nguyen Xuan Phuc anticipated two-way trade is likely to reach 100 billion USD in 2016 or 2017 while meeting with the Chinese top leaders during his freshly-ended visit to China .

China’s statistics indicate that the target could be reached this year, she said.

She also underlined the significance of financial and monetary cooperation between the two countries, adding that convenient payment will push the bilateral collaboration ahead.

Vietnam’s recent investment in China is quite modest, so China welcomes Vietnamese investors, especially in cross-border economic cooperation areas.

To attract investment in the fields of mutual interest, the two countries’ governments need to strengthen the confidence that the bilateral relations will develop positively in the future.

The two sides’ ministries and sectors should forge connectivity to popularise Chinese suitable investment projects in Vietnam , she said, suggesting shared border localities increase dialogue exchanges on their respective investment environment.

The two governments need to promulgate some policies to create the best conditions for bilateral cooperation to thrive and help people recognise the mutual benefits, she said.

She encouraged the bilateral academic research to have better policy recommendations for businesses.

She told reporters that the investment and business environment in Vietnam has been improved in recent years, proven by the country's active and proactive international integration and invitation of foreign investors.

Prime Minister Nguyen Xuan Phuc has also held a number of conferences and promulgated resolutions to better business climate and develop enterprises since he took up office in 2016.

Vietnam also has a lot of potential in the field as the country is engaging in many free trade areas, she evaluated, adding that young population is also an attractive factor to overseas investors.-VNA