Vietnamese Ambassador to China Pham Sao Mai said that Vietnam needs to improve the quality of goods and take advantage of the logistics system to promote exports to China.
Ahead of Prime Minister Pham Minh Chinh’s official visit to China and attendance at the World Economic Forum (WEF) in Tianjin on June 25-28, Vietnamese Ambassador to China Pham Sao Mai said that Vietnam has many favorable conditions in trade relations with China. The import-export corridor has become more open, the Chinese domestic consumer market has expanded its demand, and trade cooperation with ASEAN countries is highly valued by China.
China is Vietnam's largest trading partner, largest import market and second largest export market. Vietnam is China's largest trading partner in ASEAN.
Ambassador Mai said that Vietnamese exports to the Chinese market are facing some challenges due to the unsatisfactory recovery of Chinese consumption, as well as competitive pressure from goods from other countries and domestic Chinese goods. However, Vietnamese agricultural products still have advantages in the context of China's priority to ensure food security.
Vietnamese Ambassador to China Pham Sao Mai. Photo: BNG
In the first 5 months of 2023, two-way trade turnover reached 63.2 billion USD, down 12.3% over the same period, according to statistics from Vietnam Customs. However, Vietnam's agricultural exports to China increased sharply, of which rice exports increased by 62.8%, durian exports increased 18 times over the same period last year, accounting for 95% of Vietnam's total durian export turnover.
According to Ambassador Pham Sao Mai, to further exploit the export potential to the Chinese market, Vietnam needs to continue to maintain its export market share in the markets of localities adjacent to Vietnam such as Guangxi, Yunnan, Guangdong, while promoting exports to other potential areas such as the North China region, East China, central and western regions of China.
Vietnam can take advantage of market advantages such as convenient logistics systems, e-commerce, increased sea and rail transport, reducing pressure on exports by road.
The Ambassador said that Vietnam needs to improve the quality of export goods, especially meeting the standards and requirements of the Chinese market for certain groups of goods, and increasing the quality and quantity of programs to disseminate and update information about the Chinese market.
The fourth measure is to step up trade promotion activities in China, supporting Vietnamese enterprises to participate in large and prestigious fairs in the neighboring country.
In addition to the economic aspect, Ambassador Pham Sao Mai said that Prime Minister Pham Minh Chinh’s visit to China is also an opportunity for senior leaders of the two countries to deepen strategic exchanges, contributing to enhancing political understanding and trust. The visit will identify measures to comprehensively implement common perceptions, creating momentum for further promoting cooperation between the two countries in all fields.
In addition, the leaders of the two countries will continue to discuss measures to effectively control disagreements, maintain a peaceful and stable environment at sea, enhance coordination and support each other in multilateral forums, actively contributing to deepening the bilateral cooperation, which is beneficial to maintaining peace, stability and development in the region and the world.
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