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| Opening ceremony of the 2023 Zhejiang International Trade Fair - The 11th Zhejiang Export Commodities Fair in Vietnam in Hanoi. (Source: Organizing Committee) |
The 2023 Zhejiang International Trade Fair and the 11th Zhejiang Export Commodities Fair in Vietnam attracted a total of more than 50 exhibiting companies with 120 booths, covering a total area of 4,000 m2. The exhibition is divided into 3 main display areas, including metal tools and decorative materials; electronic machinery; textiles, fabrics and daily consumer goods.
The representative of the Chinese Organizing Committee hopes that this exhibition can cover the attractiveness of the products, the industry of the enterprise as well as the attractiveness of the rich history and culture of Zhejiang, thereby helping many Vietnamese enterprises to understand more deeply about Zhejiang enterprises and products.
According to the Department of Commerce of Zhejiang Province, located on the southeast coast - one of the most economically developed regions in China, Zhejiang currently has the largest number of small and medium-sized enterprises and the highest rate of private enterprises in China.
In particular, Vietnam is an important cooperation partner of Zhejiang in the ASEAN region. On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) initiated by ASEAN officially took effect, strongly promoting exchanges and cooperation between the two sides.
Moreover, Zhejiang has a solid trade foundation, complementary industries and broad cooperation prospects. By 2022, the total bilateral trade volume between Zhejiang Province and Vietnam reached 20.56 billion USD, up 16.85% year-on-year. Among them, Zhejiang's exports to Vietnam in 2022 were 14.49 billion USD, up 17.99% year-on-year, and imports from Vietnam were 6.07 billion USD, up 14.21% year-on-year.
Mr. To Ngoc Son - Deputy Director of the Asia-Africa Market Department (Ministry of Industry and Trade) said that the 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Commodities Fair in Vietnam are activities marking the complete restoration of bilateral economic and trade exchange activities after 3 years of interruption due to the Covid-19 pandemic.
Important visits by senior leaders of the two countries will continue to create a solid foundation for the Vietnam-China economic and trade cooperation relationship . However, in the context of the global and regional economy facing many difficulties and challenges as present, the foreign trade activities of both Vietnam and China with the world are also significantly affected. The trade turnover in the first 8 months of 2023 between Vietnam and China with the world decreased by 12.8% and 6.5% respectively compared to the same period in 2022.
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| The opportunity helps many Vietnamese businesses gain a deeper understanding of Zhejiang businesses and products. (Source: Organizing Committee) |
Therefore, the 2023 Zhejiang International Trade Expo and the 11th Zhejiang Export Commodities Fair in Vietnam create more cooperation opportunities for businesses on both sides, contributing to overcoming the negative impacts of the global and regional economy.
Mr. To Ngoc Son affirmed that in the overall cooperation with China, the Vietnamese Ministry of Industry and Trade highly values the role of Zhejiang province - an important gateway in the eastern region of China. In 2022, the trade turnover between Vietnam and Zhejiang province ranked 4th among Chinese localities having trade relations with Vietnam and accounted for about 10% of the total trade turnover between the two countries. With the strength and economic scale of Zhejiang province, it can be seen that the potential and demand for economic, trade and industrial cooperation between Vietnam and Zhejiang province are still very large.
"In the coming time, with the determination and joint efforts of both sides, the friendly neighborly relationship and comprehensive cooperation between the two Parties, two States and peoples of Vietnam and China will continuously develop in depth, stability and sustainability, meeting the aspirations and practical interests of both sides and peoples, contributing to peace, cooperation and development in the region and the world," Mr. To Ngoc Son affirmed.
The 2023 Zhejiang International Trade Expo and the 11th Zhejiang Export Commodities Fair in Vietnam will last until September 30.
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