Prime Minister Pham Minh Chinh (R) receives Chinese Minister of Commerce Wang Wentao. (Photo: VNA) PM Chinh made the statement at a reception in Ho Chi Minh City on November 25 for Chinese Ministerof Commerce Wang Wentao and a delegation of the Chinese Ministry ofCommerce who are paying a working visit to Vietnam and attend the 12th Meetingof the Vietnam-China Economic and Trade Cooperation Committee.
The host and guest expressed their delight atthe results of bilateral economic and trade cooperation. Since 2004, China has alwaysbeen the biggest trading partner of Vietnam. Among foreign investors inVietnam, China currently ranks fourth in terms of capital and first in thenumber of new projects.
In 2022, Vietnam became the fourth biggesttrading partner of China in the world according to national criteria, and thebiggest trading partner in the Association of Southeast Asian Nations (ASEAN).In the first 10 months of 2023, two-way trade reached almost 140 billion USD.
Highly evaluating the coordination and cooperationbetween the two ministries of trade, especially in dealing with difficultiesand obstacles in economic ties, PM Chinh proposed the Chinese Ministry ofCommerce continue working closely with the Ministry of Industry and Trade,ministries and sectors of Vietnam to deploy practical measures to expandbilateral trade in a more sustainable and balanced way.
The two sides need to restore disrupted supplychains; review signed documents and study the upgrade and signing of new cooperationagreements; promote the establishment of cross-border trade areas; and enhanceinfrastructure connectivity to boost economic connection, including waterwayand seaport connectivity and studying the building of a high-speed railwayroute between the two nations, he suggested.
The PM also proposed the two sides strengthen linkages andensure the smooth flow of goods supply chains in the fields of agriculture andindustry; and encourage leading Chinese enterprises with high, energy-savingand environmentally-friendly technologies to expand investment in Vietnam.
The government leader also suggested Chinaexpand its import of high-quality agricultural products from Vietnam such as aquaticproducts and milk; assist the building of trademarks for products and fields ofVietnam’s strength in the Chinese market; help Vietnamese goods to penetratedeeper into China’s localities and retail system; create favourable conditions incustoms clearance for Vietnamese goods to enter the Chinese market; coordinatewith the Vietnamese side to effectively carry out trade promotion activities ineach country; and accelerate the establishment of Vietnam’s trade promotion officesin Chinese localities.
In particular, PM Chinh requested the Chinese side to discussand coordinate with Vietnamese agencies to completely settle pending issues ina number of industrial cooperation projects in the spirit of “harmonising interestsand sharing risks”.
Wang agreed with PM Chinh’s proposals and the minister said he would report them to Party and State leaders of China.
The minister pledged to work closely with theMinistry of Industry and Trade, ministries, sectors and localities of Vietnamto effectively implement common perceptions and agreements reached by seniorleaders of the two Parties and nations, and deepen bilateral trade andinvestment ties.
Wang also proposed Vietnam continue to createfavourable conditions for Chinese investors in Vietnam; enhance multilateral cooperation; and join hands in boosting regional economiclinkages, including the upgrade of the ASEAN-China Free Trade Agreement.
PM Chinh took this occasion to ask Wang toconvey his regards and invitation to Chinese Premier Li Qiang to visitVietnam./.
VNA
