CAEXPO 2016: Promoting effective Vietnam-China trade

15:44 | 17/10/2016 Cooperation

(VEN) - “More than 100 Vietnamese businesses joined transactions and discussed cooperation opportunities with about 200 Chinese companies at a trade conference held in the framework of the 13th China-ASEAN Expo (CAEXPO 2016). These important activities were going along with the introduction of products and brands at CAEXPO events, said Ta Hoang Linh, Deputy Director of the Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade.

Vietnam-China trade to reach US$100 billion next year

This conference took place one day after the opening of CAEXPO 2016 and was jointly held by Vietrade and the CAEXPO Secretariat.

Trade between Vietnam and China has grown continuously and stably for the past many years. China has been Vietnam’s largest trading partner since 2004. Bilateral trade reached US$66.6 billion in 2015, up 13 percent compared with 2014. The two countries are increasing cooperation and expect to raise bilateral trade to US$100 billion next year, Ta Hoang Linh said.

“With its advantages, the Chinese province of Guangxi plays an important role as a bridge for Vietnamese goods to penetrate the Chinese market as well as a gateway to the ASEAN market for Chinese goods,” he added. Trade between Vietnam and Guangxi Province reached US$24.6 billion in 2015 and is expected to be higher this year, according to him.

Meetings between Vietnamese and Chinese businesses at CAEXPO events were of great significance, helping businesses of the two countries to seek reliable partners, contributing to sustainable growth of bilateral economic and trade cooperation.

Many cooperation documents, business contracts signed

The Vietnam-China trade conference at CAEXPO 2016 gathered more than 100 Vietnamese businesses in different sectors such as agricultural products, processed food, handicrafts, wooden furniture, household utensils, construction materials, and about 200 Chinese companies with machinery and technology in fields such as agriculture, textiles and garments, wood processing, and household utensils manufacturing.

Nguyen Ngoc Nghiem, a representative of the Duc Nghiem Company Limited, said that after many years exporting pine resin indirectly to the Chinese market via some partners in Lang Son Province, the comany is looking for direct importers from China to reduce costs.

“We have met more than 10 potential partners through the conference and will soon sign official agreements to export directly to the Chinese market,” he said.

According to Duong Dinh Diu, Director of the Nga Son Sedge Mat Import, Export Joint Stock Company from Thanh Hoa Province, 70 percent of the company’s sedge mat output and sedge materials are exported to China.

“We have found suitable partners to export our products via official channels. In the past, we faced lots of risks in payment due to exporting via unofficial channels,” Duong Dinh Diu said, adding that the company exported about VND17 billion worth of products in the past, but the export value is expected to increase strongly thanks to newly signed agreements. Through the conference, this company has also found Chinese partners supplying twisters using new technology.

Many Vietnamese business and investment support organizations also participated in the conference to promote investment cooperation projects.

According to Truong Thi Bich Loan from the Quang Ninh Investment Promotion Center, the center brought to the conference detailed information about projects calling for investment in Quang Ninh and introduced investment opportunities in the province.

Vietrade Deputy Director Ta Hoang Linh:

The first trade conference between Vietnamese and Chinese businesses in the framework of CAEXPO was organized in 2010. So far, such conferences have been organized seven times, creating a bridge for businesses of the two countries to promote effective cooperation.

 

Hoang Duan

Theo ven.vn