China considers Vietnam its major market

The Vietnam Chamber of Commerce and Industry and the Government of China’s Hunan province organized a forum on bilateral cooperation in trade and investment between Vietnam and China in Hanoi on April 13.

Addressing the forum, Hu Suojin, Economic and Trade Counsellor for the Chinese embassy in Vietnam, said that Vietnam is one of China’s biggest markets in Southeast Asia.

In recent years, the province of Hunan has attached great importance to developing ties of cooperation and friendship with Vietnam, which has become Hunan’s biggest investment and trade partner, he said.

In 2010, Vietnam-Hunan trade turnover reached US$250 million. At present, 45 businesses from Hunan are investing in Vietnam with a total capitalization of US$87.3 million.

The forum provided a good opportunity for businesses from the two countries to bring into full play their strengths in the fields of economics, trade, investment, minerals, porcelain, electricity, and farm produce processing.

Ha Van Thang, President of the Young Entrepreneurs Association of Hoa Binh province, said his association expected to learn more about Hunan and invite Hunan partners to invest in Vietnam through the forum.

The forum saw the signing of many cooperative agreements between Vietnamese and Hunan businesses in minerals, construction, and eastern medicine.

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