Vietnamese-Chinese trade grow sharply

In the first six months of this year, the turnover of two-way trade between Vietnam and China reached nearly US$13 billion, up 49.5 percent. With its current development, it is expected to reach US$25 billion by the end of this year.

This was confirmed at a forum on Vietnamese-Chinese trade and investment cooperation in Beijing, China on August 30 under the framework of Vietnamese Days in China.

The Vietnamese delegation, led by the Minister of Culture, Sports and Tourism, Hoang Tuan Anh, and nearly 300 Vietnamese and Chinese businesses attended the event.

Both Vietnamese and Chinese representatives appreciated that bilateral trade has grown at an average rate of 32 percent over the past ten years. China currently has 743 projects in 53 Vietnamese provinces with a total registered capital of over US$3 billion, ranking 15th among foreign investors in Vietnam, they said.

Both sides put forward a number of proposals to step up cooperation in the seafood processing, manufacturing, materials for garments and textiles and support industries.

The forum ended with the signing of cooperation agreements between several Vietnamese and Chinese businesses.

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