The news site of the Chinese Ministry of Commerce assessed that Vietnam-China economic and trade cooperation is becoming increasingly close, demonstrating strong vitality.
Durian at the Vietnamese Fruit Festival in China. (Source: Nhan Dan) |
The International Business News website of the Chinese Ministry of Commerce pointed out that in recent years, China and Vietnam have been tightening bilateral economic and trade cooperation, cooperation and exchanges have become increasingly close; economic and trade exchanges between the two countries show strong vitality.
In the first 6 months of this year, durian continued to be the strongest Vietnamese export item to China, with more than 90% of it being fresh durian. The investment capital for frozen durian processing plants is much higher than that for fresh packaged durian plants, so the number of participating businesses will be smaller, and competition will not be as fierce as for fresh durian.
Currently, the Chinese market is developing many types of durian products, requiring a large amount of raw materials, the shelf life of frozen durian can be up to 2 years, so the frozen durian market is more stable than fresh durian.
In addition, Vietnamese coconuts are also ready to enter the Chinese market. The two countries have agreed to complete the signing of the Protocol on phytosanitary requirements for fresh Vietnamese coconuts exported to China. Currently, Vietnamese coconuts are exported to 90 countries and regions. In 2023, Vietnam's export of fresh peeled coconuts and processed coconut products will reach 243 million USD.
This page quoted Dang Phuc Nguyen, Secretary General of the Vietnam Fruit and Vegetable Association, as saying that Vietnam's official quota export agreement with China will bring great opportunities for the Vietnamese coconut industry. Due to its close geographical location, short transportation time and low cost, Vietnamese coconuts have certain competitiveness in the Chinese market.
More and more Vietnamese fruit and vegetable products are being exported to China, and economic exchanges between the two countries continue to become deeper and more substantial. Statistics show that in the first half of this year, bilateral trade turnover recovered strongly, reaching nearly 95 billion USD. Vietnam's import turnover from China reached 67 billion USD, up 35% over the same period last year. Export turnover to China grew steadily to 27.8 billion USD, up 5.3% over the same period last year.
From fruits to processed foods, Vietnamese agricultural products are gaining a foothold in the Chinese market. In the future, the two countries will strengthen cooperation across the entire industry chain in the fields of agricultural trade, investment and agricultural technology cooperation, and agricultural cooperation will reach a new height.
China and Vietnam have signed bilateral and multilateral agreements, including the ASEAN-China Free Trade Agreement (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP). With such multilateral trade agreements, bilateral trade is expected to continue to grow in the coming years, especially in areas such as agricultural products, textiles and electronics.
The agreement signed by China and Vietnam strongly promotes the strategic linkage between China’s “Belt and Road” initiative and Vietnam’s “Two Corridors and One Economic Circle” plan. In the future, the two countries will strengthen cooperation within multilateral frameworks to meet their respective economic development needs, promote regional economic integration, and enhance the economic vitality and global competitiveness of the entire Southeast Asian region.
Regarding connectivity, in July 2023, the first international freight train from Shijiazhuang (China) to Hanoi (Vietnam) was deployed with a total transport distance of more than 2,700 km. In the future, the two countries will promote the construction of connectivity and provide more favorable channels for economic and trade cooperation between the two countries and the region.
Economic and trade cooperation between the two countries has many highlights. The number of Chinese enterprises investing in Vietnam has increased over the years. In the first half of this year, Vietnam attracted investment from 84 countries and regions, of which China ranked first in the number of new investment projects, accounting for 29.1% of the total number of foreign investment projects in Vietnam. This reflects that China's economic investment activities in Vietnam have become an important driving force for the development of bilateral relations.
Regarding tourism, the number of Chinese visitors to Vietnam in the first three months of this year reached nearly 890,000, an increase of 634.5% over the same period last year. Regarding people-to-people exchanges, up to now, 60 provinces and cities of Vietnam have signed friendly cooperation relations with China.
Finally, the news site of the Chinese Ministry of Commerce concluded that, with the extensive cooperation between the two countries in the industrial chain, supply chain and standardization, etc., Vietnam-China economic and trade cooperation will open up a better future.
Source: https://baoquocte.vn/bao-trung-quoc-suc-song-manh-me-cua-hop-tac-kinh-te-thuong-mai-viet-nam-trung-quoc-283179.html
Comment (0)