Business

China-Vietnam economic, trade ties to become model for regional cooperation

Chairman of the Regional Comprehensive Economic Partnership (RCEP) Industry Cooperation Committee Xu Ningning said the upside for economic and trade ties between the two countries remains enormous.

Chairman of RCEP Industry Cooperation Committee Xu Ningning (Photo: VNA)
Chairman of RCEP Industry Cooperation Committee Xu Ningning (Photo: VNA)

Beijing (VNA) – Chairman of the Regional Comprehensive Economic Partnership (RCEP) Industry Cooperation Committee Xu Ningning has expressed his belief that China and Vietnam would achieve better quality in their economic-trade ties on the existing foundation, setting a model for regional cooperation.

Talking with the Vietnam News Agency’s reporters in Beijing, Xu pointed out that 2025 marked the 75th anniversary of diplomatic ties, with economic and trade ties delivering notable and effective results that vividly reflect their longstanding fraternal friendship.

For many consecutive years, China has remained Vietnam’s largest trade partner, while Vietnam has ranked as China’s top trade partner within the Association of Southeast Asian Nations (ASEAN). Complementary collaboration in agriculture and manufacturing has continued to deepen, generating tangible benefits for the people of both nations, he said.

Looking ahead, Xu said the upside for economic and trade ties remains enormous. First, deeper integration of industrial chains by combining China’s massive market scale and technological capabilities with Vietnam’s dynamic manufacturing base could forge a more resilient regional supply chain.

Second, expanded collaboration in emerging sectors, including joint research, development, and application in new energy, digital economy, and green industries, would support Vietnam’s industrial upgrading.

Third, stronger infrastructure connectivity, particularly through coordinated investment in road, rail and port projects could further reduce trade costs.

Fourth, as two key drivers of regional economy, China and Vietnam should enhance coordination under the RCEP framework to facilitate regional flows, jointly advance regional economic integration and safeguard the free trade system, he added./.

VNA
#Regional Comprehensive Economic Partnership #RCEP China Vietnam
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