Vietnam-China bilateral trade turnover is expected to hit 25 billion USD this year based on a growth rate of between 20-25 percent in trade between the two countries in recent years.
The forecast was announced at the Shaanxi-Hanoi trade and investment seminar held in Hanoi on Mar. 31.
According to Nguyen Thanh Bien, Deputy Minister of Industry and Trade, the target of 25 billion USD is feasible as the two countries share a common border, have similar political institutions, and are in the process of national renewal.
The two countries are members of the World Trade Organisation (WTO), the Asia-Pacific Economic Cooperation (APEC) forum, the Asia-Europe Meeting (ASEM) and several economic forums. Moreover, the coming into effect of the ASEAN-China Free Trade Agreement is giving good opportunities to boost trade and investment in the coming time.
Also present at the seminar, Shaanxi provincial Party Committee Secretary Zhou Leji affirmed that with potential in science and technology, tourism and natural resources, Shaanxi and Hanoi can further boost cooperation to raise trade turnover between the two sides to a higher rate, above the modest figure of 48.9 million USD in 2009.
Zhou pointed out that Shaanxi has a population of 37 million and an acreage of 205,800 sq.m. The province lies in the western region of China and had a economic growth rate of 13.9 percent as against the national level of 8.9 percent last year.
At the seminar, businesses from the two countries signed three cooperation deals in automobile and engineering manufacture and import-export worth 25.5 million USD./.
The forecast was announced at the Shaanxi-Hanoi trade and investment seminar held in Hanoi on Mar. 31.
According to Nguyen Thanh Bien, Deputy Minister of Industry and Trade, the target of 25 billion USD is feasible as the two countries share a common border, have similar political institutions, and are in the process of national renewal.
The two countries are members of the World Trade Organisation (WTO), the Asia-Pacific Economic Cooperation (APEC) forum, the Asia-Europe Meeting (ASEM) and several economic forums. Moreover, the coming into effect of the ASEAN-China Free Trade Agreement is giving good opportunities to boost trade and investment in the coming time.
Also present at the seminar, Shaanxi provincial Party Committee Secretary Zhou Leji affirmed that with potential in science and technology, tourism and natural resources, Shaanxi and Hanoi can further boost cooperation to raise trade turnover between the two sides to a higher rate, above the modest figure of 48.9 million USD in 2009.
Zhou pointed out that Shaanxi has a population of 37 million and an acreage of 205,800 sq.m. The province lies in the western region of China and had a economic growth rate of 13.9 percent as against the national level of 8.9 percent last year.
At the seminar, businesses from the two countries signed three cooperation deals in automobile and engineering manufacture and import-export worth 25.5 million USD./.
