A talk on trade and economic cooperation between Lao Cai and Yunnan provinces takes place on November 10 (Photo: VNA)Lao Cai (VNA) – Northern Lao Cai province and its Chinese neighbor, Yunnan province,will soon open extra temporary border gates and cross-border roads in anattempt to boost the two-way trade and facilitate travel of their people.
The information wasrevealed at a talk on trade and economic cooperation between the two provinceson November 10 held within the framework of the 17th Vietnam-ChinaInternational Trade Fair which is underway in Lao Cai from November 10-15.
The Vietnam-Chinatrade via the Lao Cai/Hekou border gate reached over 1 billion USD in 2016with export from Vietnam estimated at 462 million USD while imports worth 637million USD. The bilateral trade hit 1.3 billion USD in the first 10 months of2017, a year-on-year increase of 43 percent.
More Chineseinvestors have come to Lao Cai to seek business opportunities. The province isso far home to 15 Chinese FDI projects with the total registered investment of400 million USD.
However, the twosides agreed that the trade via the Lao Cai/Hekou gate is still belowpotential as it only accounted for 1.6 percent of the total trade between thetwo countries in 2015 and 1.52 percent last year, much lower than that viaborder gates in Quang Ninh and Lang Son provinces. The difference in rail gaugebetween the two countries was believed to be the main barrier to the trade.
The provinces wereadvised to improve infrastructure at their border gates and simplify customsclearance to facilitate the bilateral trade. They will also propose ministriesto broaden the list of goods permitted to be transported across the border bytrucks.
On the same day, LaoCai province and China’s Honghe prefecture also co-held a conference to promotetrade between Vietnam and China as part of this year’s Vietnam-ChinaInternational Trade Fair, bringing together representatives from the Ministryof Industry and Trade and tourism promotion agencies from 19 cities andprovinces across Vietnam alongside over 100 enterprises from both sides.
At the conference,Lao Cai invited investment to four projects, including the Bac Ha resort, worth350 billion VND (15.4 million USD), and a 26.4 million USD hi-tech agriculturalproject in Lung Phinh commune, Bac Ha district.
The event sawsigning of numerous deals between businesses from the two sides in e-commerce,logistics, agriculture, tourism, chemicals and more.-VNA
The information wasrevealed at a talk on trade and economic cooperation between the two provinceson November 10 held within the framework of the 17th Vietnam-ChinaInternational Trade Fair which is underway in Lao Cai from November 10-15.
The Vietnam-Chinatrade via the Lao Cai/Hekou border gate reached over 1 billion USD in 2016with export from Vietnam estimated at 462 million USD while imports worth 637million USD. The bilateral trade hit 1.3 billion USD in the first 10 months of2017, a year-on-year increase of 43 percent.
More Chineseinvestors have come to Lao Cai to seek business opportunities. The province isso far home to 15 Chinese FDI projects with the total registered investment of400 million USD.
However, the twosides agreed that the trade via the Lao Cai/Hekou gate is still belowpotential as it only accounted for 1.6 percent of the total trade between thetwo countries in 2015 and 1.52 percent last year, much lower than that viaborder gates in Quang Ninh and Lang Son provinces. The difference in rail gaugebetween the two countries was believed to be the main barrier to the trade.
The provinces wereadvised to improve infrastructure at their border gates and simplify customsclearance to facilitate the bilateral trade. They will also propose ministriesto broaden the list of goods permitted to be transported across the border bytrucks.
On the same day, LaoCai province and China’s Honghe prefecture also co-held a conference to promotetrade between Vietnam and China as part of this year’s Vietnam-ChinaInternational Trade Fair, bringing together representatives from the Ministryof Industry and Trade and tourism promotion agencies from 19 cities andprovinces across Vietnam alongside over 100 enterprises from both sides.
At the conference,Lao Cai invited investment to four projects, including the Bac Ha resort, worth350 billion VND (15.4 million USD), and a 26.4 million USD hi-tech agriculturalproject in Lung Phinh commune, Bac Ha district.
The event sawsigning of numerous deals between businesses from the two sides in e-commerce,logistics, agriculture, tourism, chemicals and more.-VNA
VNA
