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  Trade

Vietnam, China see robust development in trade relations

Relations between Vietnam and China have developed well in all aspects in recent years. Along with political ties, economic and trade co-operation is regarded as a highlight.

Besides the exchanges of high-level trade delegations, relations between the two countries' local regions and branches have also been fostered.

Regarding Vietnamese-Chinese co-operation in economics and trade, Vietnamese Deputy Trade Minister Do Nhu Dinh said trade turnover between the two countries in 2005 reached US$8.73 billion, up 21.5 percent compared with 2004.

This early achievement exceeded the 2005 target of US$5 billion set by Chinese Premier Wen Jiabao and Vietnamese Prime Minister Phan Van Khai. With the current development momentum, the two sides are likely to meet the trade turnover target of US$10 billion by 2010 early as well. Economists estimate trade may reach the target as soon as 2006 or 2007, said the Deputy Trade Minister.

Relations between Vietnam and the Guangxi Zhuang Autonomous Region occupy an important position in the two countries' trade cooperation. This year’s trade turnover between Vietnam and Guangxi province, a gateway to southern Chinese provinces and as a bridge linking China and with ASEAN countries through Vietnam,  is expected to exceed the US$1 billion level.

Investment activities between the two sides have continuously broadened. To date, Guangxi has poured more than US$21 million into 49 projects in Vietnam, while Vietnam has infused nearly US$15.5 million into 18 projects in Guangxi.

Li Shushen, Director of the Trade Department of the Guangxi Zhuang Autonomous Zone, said comprehensive co-operation between Guangxi and Vietnam has entered a new stage, in which the two sides assist each other in many areas.

During a recent seminar on investment co-operation between Vietnam and Guangxi in Ha Noi, the two sides discussed measures to encourage the exchange of staples and decided to boost co-operation in producing and processing agro-forestry and aquatic products and garment and leather footwear accessories to supply to each other and to a third country.

In general, the Vietnam-China economic relationship is enjoying favourable conditions in the context of bilateral and regional co-operation. The Vietnamese side is positively implementing activities under the ASEAN+China and the Mekong Sub-region co-operation frameworks.

Especially, the two countries are carrying out a project expected to create new opportunities in trade and investment between the two countries in general and between Guangxi, Yunnan, Guangdong and Hainan and Vietnam's northern cities and provinces in particular.

VOV - (25/04/2006)


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