09:30 | 29/12/2016 Cooperation
A workshop was opened in Hà Nội on December 27th with a view to beefing up economic co-operation between Việt Nam and China.
The two-day workshop, chaired by the Vietnamese Foreign Ministry, drew more than 100 delegates who are leaders of ministries, sectors and localities, along with representatives of some research institutes, universities and business associations.
It focuses on China’s external economic policy; investment, trade and tourism co-operation between the countries’ localities; along with bilateral cooperation within the framework of some regional connectivity initiatives.
In his address, Deputy Prime Minister and Foreign Minister Phạm Bình Minh, who is also Chairman of the Vietnamese subcommittee of the Steering Committee for Việt Nam-China Bilateral Co-operation, said the workshop was a good opportunity for ministries, localities, research agencies and businesses to discuss and have a comprehensive view of the countries’ economic partnerships.
He repeated Việt Nam’s consistent policy of prioritising the stable, healthy and sustainable development of the Việt Nam-China comprehensive strategic co-operative partnership, including win-win economic co-operation.
He asked participants to look into the potential and outcomes of the countries’ economic ties and suggest effective measures to tackle obstacles and boost economic links with China in an equal, healthy and sustainable manner.
Bilateral trade reached US$66.6 billion in 2015, a year-on-year rise of 13.4 per cent, of which Việt Nam exported $17.1 billion worth of goods to China (up 14.8 per cent) and imported $49.5 billion in commodities (up 13.3 per cent), according to the General Department of Việt Nam Customs.
By the end of July 2016, Việt Nam had become the biggest ASEAN trade partner of China, with total trade value hitting $52.26 billion, down 1.3 per cent from the same period last year. China exported $33.52 billion worth of goods to Việt Nam, a 7.9 per cent increase on year, and imported $18.74 billion worth of goods from Việt Nam, a year-on-year increase of 13.1 per cent.
In the first half of 2016, China ran 127 new investment projects in Việt Nam with total newly-registered and increased capital of $537.6 million. As of July 2016, China (excluding Taiwan, Hong Kong and Macau), secured 1,500 investment projects in Việt Nam worth $10.86 billion, ranking ninth out of the 116 countries and territories investing in Việt Nam.