09:50 | 02/05/2019 Trade
Minister of Industry and Trade Tran Tuan Anh has held a working session with head of China’s General Administration of Customs Ni Yuefeng to seek ways to boost bilateral trade ties in a more balanced and sustainable manner.
|At the working session - Source: MoIT|
The two sides agreed that thanks to the attention and direction of senior leaders of both countries, economic and trade cooperation between Vietnam and China has grown rapidly and seen fruitful outcomes over the years.
They noted that Vietnam’s trade deficit with China has been decreasing, but has yet to be sustainable, thus requiring more effective measures to narrow it down.
They affirmed the significant role of cooperation in farm produce trading, and agreed to continue to further facilitate the trade of the products in the coming time.
Alongside, the two sides agreed to closely work together in implementing the protocol on opening the Chinese market for Vietnamese dairy products and mangosteen, which has been signed recently.
The Chinese General Administration of Customs will work closely with the Vietnamese side to continue conducting procedures to evaluate risks for durians, passion fruit, avocados, grapefruit, coconuts, custard apples, and Java apples and other products such as sweet potatoes and bird nests from Vietnam.
Recognizing that China is an important export market for Vietnamese rice, the two sides agreed to continue applying suitable measures to manage rice quality and ensure the stable and sustainable development of rice export activities to China.
Minister Tran Tuan Anh and head of China’s General Administration of Customs Ni Yuefeng promised to assign relevant agencies of the two sides to draft a memorandum of understanding on building mechanisms to foster Vietnam-China trade ties.
Statistics from the customs of Vietnam showed that in 2018, Vietnam-China trade reached 106.7 billion USD, up 13.5 percent year on year. Vietnam exported 41.26 billion USD worth of goods to China and imported 65.43 billion USD worth of goods from the market.
During his stay in Beijing, Minister Anh, who accompanied PM Nguyen Xuan Phuc to the second Belt and Road Forum (BRF) for International Cooperation on April 25-27, attended a thematic forum on trade connectivity at the second BRF.