Vietnam - China Enterprises: Connecting Trade in Agriculture and Aquaculture

At the conference "Promoting trade and connecting Vietnamese and Chinese enterprises in the field of agriculture and fisheries", held on the afternoon of November 22 within the framework of the Vietnam Foodexpo 2023 event in Ho Chi Minh City, Mr. Le Hoang Tai, Deputy Director of the Trade Promotion Agency (Ministry of Industry and Trade) - said: Vietnam - China import and export turnover in 2022 reached 175.56 billion USD, an increase of 5.47% compared to 2021. China continues to be Vietnam's largest trading partner, largest import market and second largest export market, after the US.

Mr. Le Hoang Tai, Deputy Director of the Department of Trade Promotion

Thus, according to Mr. Le Hoang Tai, in 2022, Vietnam will be China's 6th largest trading partner, as well as China's 5th largest export market and 10th largest import market. In ASEAN alone, Vietnam is China's largest trading partner. In the first 8 months of this year, Vietnam's import-export turnover with China reached 103.92 billion USD and this is also Vietnam's second largest export market. It is forecasted that the trade turnover between the two countries in 2023 will continue to maintain a good growth momentum and achieve many positive results. Mr. Le Hoang Tai commented: In the coming time, the prospects and potential in economic and trade cooperation between the two countries are still very large, stemming from the following factors: The political cooperation between the two countries is increasingly consolidated and developed well through close cooperation between the leaders of the two Parties and the leaders of the two governments. In addition, with their unique geographical locations, the two countries have great advantages in logistics activities, transporting goods by road, rail, sea and air. In addition, Vietnam has signed and is participating in 16 FTAs, many of which open up many opportunities in potential market areas with large populations such as CPTPP and RCEP. This will be an opportunity to attract Chinese enterprises to invest in Vietnam to take advantage of these advantages in production activities, exporting goods to markets where Vietnam participates in FTAs ​​to enjoy the incentives that FTAs ​​bring. However, Mr. Nong Duc Lai, Vietnam's Trade Counselor in China, said that trade between the two countries, specifically the export of Vietnamese agricultural products to China, is still facing many difficulties and challenges such as: Vietnamese agricultural and aquatic products must meet increasingly high requirements on quality standards, food safety, traceability, and packaging according to Chinese regulations (Orders No. 248, 249). Vietnamese products are facing fierce competition from similar products from other countries and even similar agricultural products produced by China. The number of agricultural products officially exported to China is still quite modest and the work of opening the market for new products is slow and facing many difficulties; businesses on both sides still lack market information, products and information about partners, etc., which has significantly affected trade cooperation between businesses on both sides. Therefore, the Conference "Promoting trade and connecting Vietnamese - Chinese enterprises in the field of agriculture and fisheries" was organized with the aim of creating conditions for Vietnamese enterprises to connect and trade with over 50 enterprises in the fields of agricultural products, fisheries, packaging, and processed foods of China, especially enterprises from Guizhou province, China.

Businesses of the two countries explore cooperation opportunities

“This is a good opportunity for Vietnamese enterprises to promote and introduce agricultural products, fruits, and processed foods to Chinese enterprises and importers, thereby promoting the export of Vietnamese agricultural products to China through official channels,” said Mr. Le Hoang Tai.

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