Mr Nguyen Thanh Phuong – Deputy General Director of FOCOCEV Vietnam Joint Stock Company has signed a cooperation agreement with Chinese enterprises at the Trade Conference between Vietnamese exporters and large Chinese importers on November 8,2017 in Hanoi. The conference was held ahead of Chinese President Tap Can Binh attends APEC Summit in Vietnam and Visits Vietnam.
According to the Ministry of Industry and Trade, Vietnam – China trade relations have been developing in both width and depth. To Ngoc Son, Department of Asia-Africa Market under the Ministry of Industry and Trade, said that China is Vietnam’s key export market. On the whole, China is also Vietnam’s largest trading partner. Bilateral trade has always had mutations – many times exceeding the levels committed by senior leaders of the two countries.
Statistics of Vietnam Customs showed that in 2016, the total trade turnover of Vietnam – China reached $ 71.9 billion, up 7.9% over 2015. Of which, Vietnam’s exports to China The figure reached USD 21.9 billion, up 28.4%; Imports from China were USD 49.9 billion, up 0.9%; Trade deficit of 27.96 billion US dollars, down 13.67% compared to 2015. Notably, in the context of China’s foreign trade continues to decline from the beginning of the year and no signs of recovery, imports of China from ASEAM countries, import turnover from Vietnam still maintained remarkable growth at two digits.
By the end of September 2017, Vietnam’s exports to China reached US $ 22.2 billion, up 62.2% year on year. Imports from China reached $ 41.7 billion, up 15.9%. Total export turnover reached 63.93 billion US dollars, up 25.1%.
Vietnamese businesses attending the seminar shared the view that the Chinese market is a large market with great potential for cooperation, the Vietnam-China Trade Conference and the ceremony of signing contracts between Vietnamese –Chinese enterprise was held in this moment extremely useful to businesses of the two countries. This is an opportunity for the two sides to seek cooperation opportunities, promote trade more development.
A representative from the Department of Trade Development (China Ministry of Commerce) said that on this occasion, the Chinese side has led nearly 60 representatives from nearly 30 large Chinese enterprises to participate in the exchange. Chinese enterprises in this conference operate in many fields and are key sectors of China. Enterprises looking for opportunities to import many items from Vietnam such as dragon fruit, banana, longan, cashew, cassava starch, finished rice, coffee beans (raw) pepper, catfish, fish meal; grain and cereal products; rubber products…
To further promote trade between the two countries, businesses also contribute ideas to overcome difficulties and obstacles in trade exchange such as expanding the area of Vietnam’s border gate to have yards to load, avoid blocking border gate, especially the beginning of year and the end of year. Vietnamese businesses also need to regularly update information on policies, legal procedures, and tariffs on the Chinese side, as these policies are subject to change, if not updated promptly. It will cause difficulties for enterprises in trade exchange.