If Vietnam and China can further optimise their neighbourliness as well as the huge trade potential under the EU-Vietnam Free Trade Agreement (EVFTA), bilateral trade will reach a new height, an official said at an online business matching event on December 17.
The 20th Vietnam-China border economic and trade fair kicked off at the Kim Thanh Exhibition and Convention Centre in the northern mountainous province of Lao Cai and the Hekou International Exhibition Centre in China’s Yunnan province on December 12.
Prime Minister Nguyen Xuan Phuc on November 27 attended the opening ceremony of the 17th China-ASEAN Expo (CAEXPO) and China-ASEAN Business and Investment Summit (CABIS) in Nanning city of China via a video conference.
China is currently Vietnam’s largest import source and second-largest export market, while Vietnam is its northern neighbour’s eighth-largest trade partner. China is also the first trade partner of Vietnam to surpass the 100 billion USD milestone.
Vietnam and China should extend the working hours for customs clearance at border gates and restore cross-border trade at markets along the border, Le Hoang Oanh, Director of the Ministry of Industry and Trade (MoIT)’s Asia-Africa Market Department, told an online meeting on August 13.
The Ministry of Industry and Trade (MoIT) has launched a number of measures to tackle difficulties for the Vietnam – China trade, amid the complicated developments of COVID-19 pandemic.
The suspension of trade in aquatic and agriculture products at some northern border gates with China as a measure against the novel coronavirus (COVID-19) has caused a demand-supply imbalance in the market.
The fisheries sector of Vietnam is facing an array of difficulties as the acute respiratory disease caused by the novel coronavirus (COVID-19) has led to contracted exports.
The establishment of diplomatic ties between Vietnam and China on January 18, 1950 was an important historical milestone, opening up a new period in the traditional relations between the two nations.
The Vietnam-China international trade and tourism fair opened in Mong Cai city of the northern border province of Quang Ninh on December 1, attracting more than 700 delegates.
The Vietnamese Government has attached much importance to relations with Yunnan province, and agreed to increase the exchange of high-level delegations and step up bilateral cooperation in tourism, culture and science-technology, Deputy Prime Minister Vuong Dinh Hue said.
Deputy Prime Minister Trinh Dinh Dung has asked the Chinese province of Guangdong to import more Vietnamese products, especially farm produce such as rice, fruit and milk.
Chairman of Hanoi People’s Committee Nguyen Duc Chung has suggested that China’s Guangdong province encourage more enterprises in Guangdong and other Chinese localities to invest in Hanoi in the coming time.
As China is a lucrative market for Vietnamese exporters, meeting its import standards is important for the Southeast Asian country to capture larger market share, according to the insiders.
The northwestern mountainous province of Lao Cai, known for its picturesque mountains, rivers, waterfalls and rich culture of ethnic hill tribes, welcomed nearly 500,000 visitors each month in the first half of 2019.
Politics
