The Vietnam visit by Chinese Politburo Standing Committee member andVice Premier Zhang Gaoli is beneficial to bilateral ties across variousdomains, Chinese Deputy Minister of Commerce Zhong Shan told a pressconference in Hanoi on July 18.
China is willingto extend the scope of bilateral cooperation and the import ofmade-in-Vietnam farm produce and competitive goods, Zhong emphaticallystated.
The Chinese deputy minister noted thattwo-way trade soared 27 percent annually to 83.6 billion USD last year,an 11-fold increase from 10 years ago. In the first half of this year,the figure reached 42.29 billion USD, up 16.6 percent year-on-year.
He said China has been the largest trade partner of Vietnam for 11years in a row while Vietnam has become the second largest trade partnerof China in the ASEAN.
As of the end of 2014,total Chinese investment in Vietnam hit 8 billion USD, mostly in theareas of electricity, steel, textile, light industry and agriculture.
He cited as example several Chinese-invested keyprojects in electricity, transport, metallurgy and chemicals underway inVietnam, including Vinh Tan 1 thermal power plant in the form ofbuild-operate-transfer and Cat Linh-Ha Dong elevated railway, amongothers.
On the tourism front, China has been thelargest source of travellers to Vietnam over the past 15 years, with1.95 million arrivals in Vietnam in 2014, while 1.71 million Vietnamesevisited China that same year, thus raising mutual understanding andfostering traditional friendship between the two countries.
Also at the event, Vice Chairman of the National Development andReform Commission of China Hu Zucai suggested the two countries continueto cooperate in infrastructure, trade and investment, as well asboosting cultural, academic and youth exchanges.
Huinformed that the commission, together with the Vietnamese Ministry ofPlanning and Investment, has developed a mechanism designed for a jointworking group on overland infrastructure.
According to him, there remains vast room for their coordination in energy and machinery manufacturing.-VNA
China is willingto extend the scope of bilateral cooperation and the import ofmade-in-Vietnam farm produce and competitive goods, Zhong emphaticallystated.
The Chinese deputy minister noted thattwo-way trade soared 27 percent annually to 83.6 billion USD last year,an 11-fold increase from 10 years ago. In the first half of this year,the figure reached 42.29 billion USD, up 16.6 percent year-on-year.
He said China has been the largest trade partner of Vietnam for 11years in a row while Vietnam has become the second largest trade partnerof China in the ASEAN.
As of the end of 2014,total Chinese investment in Vietnam hit 8 billion USD, mostly in theareas of electricity, steel, textile, light industry and agriculture.
He cited as example several Chinese-invested keyprojects in electricity, transport, metallurgy and chemicals underway inVietnam, including Vinh Tan 1 thermal power plant in the form ofbuild-operate-transfer and Cat Linh-Ha Dong elevated railway, amongothers.
On the tourism front, China has been thelargest source of travellers to Vietnam over the past 15 years, with1.95 million arrivals in Vietnam in 2014, while 1.71 million Vietnamesevisited China that same year, thus raising mutual understanding andfostering traditional friendship between the two countries.
Also at the event, Vice Chairman of the National Development andReform Commission of China Hu Zucai suggested the two countries continueto cooperate in infrastructure, trade and investment, as well asboosting cultural, academic and youth exchanges.
Huinformed that the commission, together with the Vietnamese Ministry ofPlanning and Investment, has developed a mechanism designed for a jointworking group on overland infrastructure.
According to him, there remains vast room for their coordination in energy and machinery manufacturing.-VNA
