Business

Firms advised to sign contracts in transactions with Chinese partners

Any transactions with Chinese businesses should be conducted via contracts in line with international trade practice, heard a conference in the Mekong Delta province of An Giang on May 8.
Firms advised to sign contracts in transactions with Chinese partners ảnh 1Rice packaging for exports (Photo: VNA)

An Giang (VNA) – Any transactionswith Chinese businesses should be conducted via contracts in line withinternational trade practice, heard a conference in the Mekong Delta provinceof An Giang on May 8.

The warning was given by Dao Viet Anh,Vietnam’s Commercial Counselor in China, who suggested Vietnamese busniessesconsult commercial affairs offices and trade promotion agencies in both Vietnamand China to seek suitable and prestigious partners.

They should study China’s export-importregulations, especially those regarding food, farm produce and seafood, hesaid.

To gain a firm foothold in the Chinesemarket, it is necessary to improve product quality and packaging, develop brandnames, learn about local people’s taste and step up trade promotion activities,Anh said.

Nguyen Hong Quang, Deputy Director ofthe Centre for Trade and Investment Promotion of An Giang province, said Chinahas made changes in policies towards exports through official channels, whichoffer tax incentives but tighten regulations on product quality and origin.

Besides, Vietnamese farm produce andseafood exported to China are facing fierce competition with those from otherASEAN countries, the Vietnamese Trade Office in China warned.

Moreover, Vietnamese exporters lackinformation about the market, partners and policies of China, it added.

China is now Vietnam’s largest tradepartner, with bilateral trade value growing about 20 percent annually.

In 2018, Vietnam’s exports to China hit63.9 billion USD, up 27 percent year-on-year, of which An Giang contributed 840million USD, up 2.43 percent.-VNA
VNA
#transactions with Chinese businesses #via contracts #international trade practice #commercial affairs offices #trade promotion agencies #prestigious partners #China’s export-import regulations #improve product quality and packaging #official channels #Vietnam News Agency #Vietnamplus China
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