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Vietnam, key trade partner of China’s Guangzhou in ASEAN

Vietnam is a leading trade partner of China’s Guangzhou city, Guangdong province, in ASEAN, said Luo Zheng, director of the Comprehensive Division of the Commission of Commerce of the municipal government, on July 4.
Vietnam, key trade partner of China’s Guangzhou in ASEAN ảnh 1Street view in central Guangzhou city, China.(Photo: Pinterest)

Beijing(VNA) – Vietnam is a leading trade partner of China’s Guangzhou city, Guangdongprovince, in ASEAN, said Luo Zheng, director of the Comprehensive Division ofthe Commission of Commerce of the municipal government, on July 4.

In a press conferenceon the development of Guangzhou, Zheng said two-way trade between Vietnam andGuangzhou rose by 10.2 percent to 2.8 billion USD in 2016.

Guangzhou shipped toVietnam 1.83 billion USD worth of commodities last year, a year-on-yearincrease of 12.3 percent, doubling Vietnam’s exports to the city which wasestimated at 970 million USD, up 6.5 percent.

It made Vietnam thesecond largest trade partner of Guangzhou in ASEAN, after Malaysia who reported3.48 billion USD in trade with the Chinese city.

The future is evenbrighter for the two sides when the bilateral trade hit 1.83 billion USD in thefirst five months of 2017, up 82.2 percent year-on-year, surpassing Malaysia.Guangzhou continued to enjoy a trade surplus of 970 million USD, with exportsto Vietnam worth 1.4 billion USD, during the period.

According to Zheng,Guangzhou established four new enterprises in Vietnam last year; and by May2017, the city has had 21 new businesses, bringing its total investment in thecountry up to approximately 50 million USD.

Meanwhile, as ofMay, Vietnam has established nine companies in Guangzhou, raising the totalinvestment in the city to 6.48 million USD.

Guangzhou andGuangdong have closely coordinated with Vietnam’s localities, businesses andbusiness associations to build foundation for the bilateral trade andcooperation between the two sides, Zheng affirmed.-VNA
VNA
#Guangzhou #ASEAN #China #Vietnam #Vietnam-China relation #Vietnam-Guangzhou trade #Luo Zheng #Commission of Commerce #import #export #trade partner #investment #trade surplus China ASEAN
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