Business

Vietnam, China look for ways to bolster trade

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.
Vietnam, China look for ways to bolster trade ảnh 1The 9th meeting of the Vietnam - China working group for economic and trade cooperation is held online on August 13 (Photo: Ministry of Industry and Trade)

Hanoi (VNA) - Vietnam and China should extend the working hours for customsclearance at border gates and restore cross-border trade at markets along theborder, Le Hoang Oanh, Director of the Ministry of Industry and Trade (MoIT)’sAsia-Africa Market Department, told an online meeting on August 13.

Oanh madethe proposal during the 9th meeting of the Vietnam - China working group for economic and trade cooperation, which was held in the form of videoconferencing for the first time.

Themeeting is held annually within the framework of the two countries’ Economicand Trade Cooperation Committee to seek ways to resolve problems standing inthe way of bilateral economic and trade relations.

Two-waytrade maintained stable growth during the first seven months of this year despiteCOVID-19, while many issues mentioned at the 8th meeting have beensolved. Of particular note, four more Vietnamese milk producers gained accessto China, while three others Vietnamese companies regained permission to exportfish powder. The two countries have also agreed to add the Dong Dang - Pingxiangrailway border gates to the list of international border checkpoints where Vietnamesefruit can be exported to China.

Also headof the working group on the Vietnamese side, Oanh suggested China allow moreborder checkpoints to handle agricultural and aquatic products from Vietnam.

She urgedthe country to provide Vietnamese agricultural products with broader marketaccess, and promote trade promotion activities using digital platforms, sayingVietnam wants to establish a trade promotion office in Chengdu city, Sichuan, inwestern China.

TheChinese side spoke highly of and agreed with Vietnam’s constructive proposals.China also asked Vietnam to support the entry of Chinese experts, investors andtechnicians into Vietnam.

Accordingto the General Department of Vietnam Customs, Vietnam - China trade rose 4.79percent year-on-year to 65.18 billion USD in the first seven months of thisyear, with Vietnam’s trade deficit falling 16.38 percent against the sameperiod last year.

Chinaremains Vietnam’s largest trade partner, while Vietnam has become China’sseventh-largest trade partner./.
VNA
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