Four agreements will be signed during the visit to Vietnam of the General Secretary and President of China

The Ministry of Industry and Trade said that during the State visit of General Secretary and President of China Xi Jinping, the ministry will sign four cooperation agreements to expand channels to promote national product brands, support businesses in finding partners, expand customers, and create favorable conditions for Vietnamese goods to penetrate deeply into the Chinese market.

According to data from the Import-Export Department - Ministry of Industry and Trade, in 2024, the import-export turnover between Vietnam and China will reach more than 205 billion USD, marking a record level in two-way trade, an increase of 33.3 billion USD compared to 2023. With this result, China has become Vietnam's first trading partner to set a scale of over 200 billion USD.

In the first three months of this year, bilateral trade turnover between Vietnam and China reached 51.2 billion USD, up 17.4% over last year. Currently, Vietnam exports many key products to China such as agricultural products (rice, coffee, cashew nuts, fruits, etc.), seafood, electronic components, textiles, rubber and crude oil. In particular, Vietnamese agricultural products have a great advantage in the Chinese market. Products such as durian, dragon fruit, mango, and passion fruit have established a firm foothold and will continue to grow strongly in 2024.

General Secretary and President of China Xi Jinping paid a state visit to Vietnam from April 14-15. Photo: Nhu Y.

In the opposite direction, Vietnam imports from China items such as machinery, industrial equipment, raw materials for production, consumer goods and electronic components...

The leader of the Department of Foreign Market Development - Ministry of Industry and Trade, said that during the State visit from April 14 to 15 of General Secretary and President of China Xi Jinping, the Ministry of Industry and Trade will sign 4 cooperation agreements with the Ministry of Commerce, the General Administration of State Supervision and Administration and two localities, Chongqing and Hainan.

These documents will facilitate the expansion of channels to promote the brand image of national products, support businesses in understanding the market, finding partners, expanding customers, creating favorable conditions for Vietnamese goods to penetrate deeply into the Chinese market, connecting with other neighboring markets. The two sides will exchange information on cooperation policies in the fields of trade, industry and energy.

Minister of Industry and Trade attends exhibition of Vietnam's special agricultural products exported to China in October 2024. Photo: Ministry of Industry and Trade.

According to the leader of the Department of Overseas Market Development, among the documents signed by the Ministry of Industry and Trade this time, there are two cooperation documents between the ministry and Chongqing city and Hainan province (China) to open up new opportunities for Vietnamese goods, attracting high-quality investment capital flows in areas with strengths such as processing industry, logistics, and high technology.

Mr. Dao Viet Anh - Head of International Relations Department, Trade Promotion Agency, Ministry of Industry and Trade - said that since the beginning of the year, many solutions have been implemented to promote Vietnam - China trade. A few days ago, the Agency coordinated with the Commerce Committee of Chongqing City (China) to organize the Vietnam - China Business Connection Conference with the participation of 50 Vietnamese enterprises and more than 20 enterprises from Chongqing. The event is an opportunity for businesses of the two countries to enhance exchanges and promote cooperation and trade transactions.

Mr. Viet Anh assessed that the opportunities and potential for exporting Vietnamese goods to the Chinese market are currently very large, because the comprehensive cooperation between the two Parties and the two Governments of the two countries is increasingly tightened and consolidated, the mutual complementarity in the commodity structure between the two countries; the Chinese market has a lot of room for Vietnamese products and goods to access and exploit.

To strengthen cooperation with China, the representative of the Trade Promotion Department said that they will continue to closely coordinate to implement trade promotion activities in some potential localities of this country such as Ha Nam, Hubei, Anhui, Guangxi... as well as promote investment in areas where China has strengths and Vietnam has demand such as high technology, electronics, processed food, textiles, automobile industry and supporting industry.

According to Duong Hung (TPO)

Source: https://baogialai.com.vn/se-ky-4-thoa-thuan-trong-chuyen-tham-viet-nam-cua-tong-bi-thu-chu-tich-trung-quoc-post318914.html