Vietnamese and Chinese participants in the conference in Beijing on November 27. (Photo: VNA)Addressingthe event, Hoang Minh Chien, Deputy Director of the Trade Promotion Agencyunder the Vietnamese Ministry of Industry and Trade, said that trade between thetwo countries has sustained stable and sustainable growth, by 5.5% from 2021 toover 175 billion USD in 2022. It surpassed 103 billion USD during the firsteight months of 2023.
Lastyear, China continued to be the largest trading partner, the biggest exporter and the second largest importer of Vietnam. Asthe sixth biggest trading partner of China, Vietnam ranked fifth amongimporters of Chinese goods and 10th among exporters to the NortheastAsian market. Vietnam also topped trading partners of China in the Association ofSoutheast Asian Nations (ASEAN).
Meanwhile, foreign direct investment (FDI) from China has been present almost acrossVietnam, concentrating in coastal and populous localities with strong workforceattractiveness and favourable infrastructure for goods trading and travellingbetween the two countries, he noted.
Chien held that thereremains huge potential for bilateral economic, trade, and investmentcooperation, especially when the two economies are complementary to each otherand green and circular economy is now a global trend.
He recommended enterprisesof the countries seize chances to enhance cooperation to tap into the twoeconomies’ complementarity, thereby bolstering stable and sustainable businesspartnerships and developing economic and trade ties to a new level.
For hispart, Xu Jinli, head of the bilateral cooperation department at the ChinaCouncil for the Promotion of International Trade (CCPIT), stressed that inrecent years, bilateral economic and trade relations have continued to beintensified and reaped good results. Their trade has still been on the risedespite many challenges during the global economic recovery process.
Besides, investment links have witnessed steadyprogress while the countries’ industrial and supply chains have been stronglyconnected. Vietnam is the fourth largest investment destination of China inASEAN, and more and more Chinese enterprises are coming to invest in the Southeast Asiancountry, he added.
He expressedhis hope that the companies taking part in the conference could make use of thischance to have in-depth discussion and build consensus in cooperation to obtainmutually beneficial results./.
VNA
