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New accord to boost trade with China
The Vietnam Chamber of Commerce and Industry (VCCI) and China External Trade Centre have pledged to open up access to information for businesses from the two countries.
An agreement of strategic cooperation signed by the two agencies in Hanoi on February 17 also offers more opportunities for businesses from the two neighbours to seek partners and expand investment and business in each other’s country.
In the immediate future, the Chinese side will provide Vietnamese businesses with information on a China import-export fair scheduled to take place in Guangzhou from April 17 to May 5.
The centre was also committed to help the Vietnamese businesses easily take part in China’s largest international trade fair.
Deputy Head of VCCI’s International Relations Department Pham Quang Thinh described the event as a good opportunity for Vietnamese businesses to promote their products to Chinese customers and international partners.
VCCI reported that China is a leading market of Vietnamese products as a number of consumer goods - such as farm produce and electric appliances- are to Chinese liking.
Bilateral trade reached a record US$30 billion last year, with Vietnam enjoying an increase of 47 percent in export value to over US$7 billion, which made up almost 10 percent of the nation’s gross export revenue.
In regard to investment, up to late December last year China had invested almost US$3.2 billion in 749 projects in Vietnam. In January this year alone, two Chinese projects with a combined investment of US$1.3 million were licensed, placing China in eighth ranking on the list of foreign investors in Vietnam.
VOV, VNA
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