Vietnam-China trade believed to have ground to reach new height hinh anh 1Le Hoang Tai (centre), Deputy Director of the Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency, speaks at the online business matching event on December 17 (Photo: Ministry of Industry and Trade)

Hanoi (VNA) – 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 remark was made by Le Hoang Tai, Deputy Director of the Vietnamese Ministry of Industry and Trade’s Trade Promotion Agency, during the conference held within the 2020 China-ASEAN Expo (CAEXPO) framework.

He noted that trade between Vietnam and China has been rising rapidly in recent years, which has greatly contributed to each country’s economic growth.

Even amid the COVID-19 pandemic, they have still recorded strong increases in bilateral trade.

Data from the ministry show that the two countries’ trade reached 117.09 billion USD during January-November, including 43.145 billion USD of Vietnam’s exports to (up 16 percent year on year) and 73.945 billion USD of imports from China (up 7.9 percent).

Tai attributed this outcome to the strong resolve of both countries’ governments and business circles, including contributions by the CAEXPO, which have created conditions for localities and enterprises of Vietnam to introduce their potential and foster bilateral trade.

To help Vietnamese and Chinese firms reinforce trade links, the Trade Promotion Agency has worked actively to provide market information and help them take part in major fairs and exhibitions of the two countries and seek partners.

With utmost efforts and cooperation goodwill, the two sides’ businesses will surely reap success, and bilateral economic and trade partnerships will enjoy breakthrough development, he added.

Yang Yanyan from the CAEXPO Secretariat said 2020 marks the 70th founding anniversary of China-Vietnam diplomatic ties, and their economic and trade links have continued to be intensified. 

Vietnam now ranks seventh in the world and first in ASEAN among trading partners of China, according to her./.