Attending the Conference, on the Vietnamese side, there were representatives of units under the Trade Promotion Agency - Ministry of Industry and Trade, the Agricultural Trade Promotion Center - Ministry of Agriculture and Rural Development; representatives of the Vietnam Trade Office Branch in Kunming (China). On the Chinese side, there were representatives of the Chinese Embassy in Vietnam, representatives of some units under the Department of Commerce of Yunnan province. On the business side of the two countries, there were about 80 companies, production and import-export corporations in many different fields of Vietnam and China.
Speaking at the event, Mr. Le Hoang Tai, Deputy Director of the Trade Promotion Agency, Ministry of Industry and Trade, said: After more than 30 years of implementing the policy of innovation and opening up, Vietnam has been proactively integrating deeply into the world economy. Joining the global economic community and signing new-generation free trade agreements have created a favorable legal framework for the development of economic and trade relations between Vietnam and countries around the world.
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Mr. Le Hoang Tai, Deputy Director of the Trade Promotion Agency, Ministry of Industry and Trade, spoke at the Conference. |
“ Although the Covid-19 pandemic and the unstable conflicts of the world situation have caused many negative impacts on many countries, including Vietnam, however, with the determination and efforts of the Government and people of Vietnam, production and business activities have been maintained stably and the economy has recovered positively and achieved many positive results, ” Mr. Le Hoang Tai informed.
According to Mr. Le Hoang Tai, economic and trade cooperation between Vietnam and China is still growing steadily. According to statistics from Vietnam Customs, in 2022, the total import-export turnover between Vietnam and China reached 175.6 billion USD, an increase of 5.5% over the same period in 2021. In the first 11 months of 2023, the total import-export turnover between Vietnam and China reached 155.8 billion USD. It is forecasted that in 2023, two-way trade will reach the same level as the two sides achieved in 2022.
“ Despite its important position, role and potential market with a population of 47 million people, Vietnam's economic and trade cooperation with Yunnan is not yet commensurate with the potential of both sides. In 2022, Vietnam - Yunnan trade turnover only reached 3.2 billion USD and in the first 10 months of 2023, two-way trade only reached 2.2 billion USD, accounting for a very modest proportion of the total trade turnover between Vietnam and China ,” Mr. Le Hoang Tai emphasized.
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Mr. Dam Vy, Deputy Director of the Department of Commerce of Yunnan Province (China) |
At the conference, Mr. Dam Vy, Deputy Director of the Department of Commerce of Yunnan Province (China) said: Vietnam is an important country in Asia, and also an important member of ASEAN (Association of Southeast Asian Nations) and RCEP (Regional Comprehensive Economic Partnership Agreement).
Yunnan-Vietnam trade grew steadily from 17.74 billion in 2016 to 35.21 billion yuan in 2020, with an average annual growth rate of 18.7%, from 2021 to present. However, due to the impact of Covid-19, bilateral trade is declining. In 2023, Yunnan-Vietnam trade continued to recover, with export turnover reaching 15.174 billion yuan from January to October, accounting for 14.45% of the total trade turnover between Yunnan and RCEP member countries.
“ In the field of foreign investment, as of November 2023, Yunnan has 53 non-financial direct investment enterprises; the total investment volume under the agreement of the Chinese side is 360 million yuan, the total actual cumulative investment volume is 220 million yuan, with the main investment areas being manufacturing, agriculture and mining, ” added a representative of the Yunnan Provincial Department of Commerce.
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| Conference Overview |
In parallel with the Conference, the Organizing Committee organized a program to connect trade between Vietnamese enterprises and enterprises of Yunnan Province (China). At the same time, the signing ceremony of 03 cooperation agreements between Vietnamese enterprises and enterprises of Yunnan Province (China) in the field of agricultural products and food took place. Through this connection and exchange, enterprises of both sides had the opportunity to better understand each other's import and export needs, identify potential partners, and thereby build appropriate and effective production and business plans.
The Vietnam - China (Yunnan) Trade Promotion and Economic Cooperation Conference is an opportunity to open up new opportunities, continue to create favorable conditions for Vietnamese enterprises and Yunnan province (China) to further strengthen exchanges and cooperation in the field of trade, actively contributing to promoting stable and balanced economic and trade relations between Vietnam and China, continuing to be a bright spot in bilateral relations. According to the General Administration of Customs of China, the import and export turnover between Vietnam and China (Yunnan) in recent years: In the period 2017 - 2021, the import and export turnover between Vietnam and China (Yunnan) has been constantly increasing. In 2017, the import and export turnover between the two sides reached 3.7 billion USD, of which Yunnan exported 2.01 billion USD and imported 1.69 billion USD. The import and export turnover between the two sides in 2018, 2019, 2020 was 4.27 billion USD, 4.32 billion USD and 5.07 billion USD, respectively. In 2021, the import and export turnover between the two sides reached 5.16 billion USD, of which Yunnan's export reached 3.98 billion USD and import reached 1.18 billion USD. In 2022 alone, due to the complicated developments of the Covid-19 epidemic in Yunnan, Yunnan's border gates with Vietnam were continuously suspended, and some border districts were continuously locked down, leading to the two-way trade turnover between Yunnan and Vietnam not achieving the same growth as in previous years. By the end of December 2022, the two-way trade turnover between Yunnan and Vietnam reached 3.25 billion USD, down 18.46% over the same period, of which Yunnan's exports reached: 2.65 billion USD, down 0.02% over the same period; Yunnan's imports: 599.7 million USD, down 51.55% over the same period. Yunnan's main exports to Vietnam include: Coke, fertilizer, electric energy, electrical machinery and equipment, other chemicals, agricultural products (vegetables, tubers, fruits, etc.). Yunnan's main imports include: Yellow phosphorus, tropical fruits (dragon fruit, mango, banana, watermelon, lychee, longan, etc.), wood products, peeled boards, medicinal herbs, fresh cassava, cassava starch, agricultural products, seafood, etc. |
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