Representatives of Vietnamese businesses introduce products to Chinese partners at the 12th China-ASEAN Expo in Nanning city, China, in 2015 (Photo: VNA)

Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc will attend the first China International Import Expo (CIIE) on November 4-5, showing Vietnam’s wish to develop bilateral economic and trade ties sustainably.

The CIIE is scheduled to take place in Shanghai from November 5 to 10.

The Chinese government has chosen the country as one of 12 guests of honour among more than 130 countries and territories participating in the event.

The expo, set to be held annually, aims to create a chance for other countries to access the Chinese market and help promote the “Belt and Road” initiative as well as globalisation.

For Vietnam – a gateway to the Association of Southeast Asian Nations (ASEAN), this expo is an important trade, investment and tourism promotion event helping strengthen its links with regional countries, optimise benefits generated by the ASEAN-China Free Trade Area and increase the export of Vietnamese goods and services to China and other ASEAN countries along with the shipment of ASEAN goods to China via Vietnam.

The CIIE is also an occasion to popularise Vietnamese enterprises’ image to China and other countries to attract foreign investment while helping Vietnamese firms seek markets and expand business activities.

New strides have been recorded in trade, investment and tourism cooperation between Vietnam and China since the beginning of 2018. China remains the biggest trade partner and source of foreign tourists of the Southeast Asian nation, which in turn also ranks first among ASEAN trade and tourism partners of China.

Their trade has kept growing, hitting 76.07 billion USD in the first nine months of 2018.

In 2017, Chinese investment in Vietnam reached 2.17 billion USD, up more than 20 percent from the previous year, making China the fourth largest FDI investor here.

As of late September 2018, China had 2,041 projects worth 12.78 billion USD in Vietnam, ranking seventh among 129 countries and territories investing in the country.

Meanwhile, more than 4 million Chinese tourists visited Vietnam last year. Vietnam also welcomed some 3.8 million tourists from its neighbour between January and September 2018, rising by 29.7 percent year on year.-VNA