A garment factory in Vietnam (Illustrative photo: VNA)Hanoi (VNA) – Vietnam and China haveseen positive developments in trade and economic relations over the pasttime.
Besides increasing bilateral trade, Vietnam hascontinuously been an attractive investment destination for Chinese businesses.
Le Hoang Oanh, Director of the Asia and Africa Markets Department under theMinistry of Industry and Trade, described Vietnam and China as dynamiceconomies.
The two countries have been able to maintain rapideconomic growth in recent years, she said.
Along with the building of bilateralcomprehensive strategic cooperative partnership, the regular exchange of visitsbetween Vietnamese and Chinese leaders have created an environment for soundand stable political cooperation, thus laying an important foundation for thebilateral trade development.
Since 2004, China has been the biggest tradepartner of Vietnam with two-way trade growing vigorously.
China is now the second largest export market ofVietnam in the world, after the US, while Vietnam is the biggest trade partnerof China in ASEAN.
According to the Ministry of Industry and Trade,two-way trade reached 106.7 billion USD in 2018, a year-on-year rise of 13.5percent.
Vietnam exported 41.26 billion USD worth ofgoods, up 16.56 percent.
China mainly imports farm produce and seafoodfrom Vietnam.
To boost exports to China, Vietnamese businessesshould take China as a key market and carefully study the market demand,Oanh suggested.
Domestic enterprises should also create keyaquatic and agricultural products ensuring the market’s requirements onquality, testing, quarantine, trace of the goods, packaging and labelling, sheadded.
The small-scaleunofficial export by a number of enterprises is causing difficulties to themanagement of the quality of exports, thus negatively affecting the sustainableexport to China, the official said, advising that in order to boost export toChina, Vietnamese firms should not take China as an easy market.-VNA
