Promoting trade, investment and connecting trade between Vietnam and China (Chongqing)

In order to further strengthen economic and trade cooperation between Vietnam and Chongqing City, China and put the content of the Memorandum of Understanding on strengthening economic, trade and investment cooperation in the industry and trade sector between the Trade Promotion Agency - Ministry of Industry and Trade (Vietnam) and the Trade Commission of Chongqing City (China) signed on September 16, 2022 into practice, on October 16, 2023 in Hanoi, the Trade Promotion Agency, Ministry of Industry and Trade of Vietnam continued to coordinate with the Trade Promotion Commission of Chongqing City, China to organize the Vietnam - China (Chongqing) Trade, Investment and Trade Connection Conference.

The conference took place within the framework of the Chongqing Delegation's visit to Vietnam from October 12 to 16, 2023.

The conference was chaired by Deputy Minister of Industry and Trade Phan Thi Thang with the participation of leaders of the following units: Trade Promotion Agency, Import-Export Agency, Industry Agency, Asia-Africa Market Department, Vice President of Vietnam Federation of Commerce and Industry, Chief Representative of Vietnam Trade Promotion Office in Chongqing, and more than 50 Associations and enterprises operating in the fields of industry and import-export of Vietnam.

On the Chinese side, Ms. Truong Quoc Tri - Deputy Mayor of Chongqing Municipal People's Government led the delegation, Commercial Counselor of the Chinese Embassy in Vietnam, leaders of Chongqing Municipal Trade Promotion Committee, Foreign Affairs Office of Chongqing Municipal People's Committee, Chongqing Commerce Committee, Chongqing Municipal Economic and Information Committee, Chongqing Municipal Customs, and 10 typical enterprises of Chongqing.

Deputy Minister Phan Thi Thang speaks at the Conference - Photo: Nhat Khoi

Speaking at the Conference, Deputy Minister Phan Thi Thang highly appreciated the significance of the visit and activities within the framework of the Delegation's visit to Vietnam, affirming that these activities not only contributed to consolidating and further strengthening the cooperative relationship between the Ministry of Industry and Trade of Vietnam and the Chongqing Municipal Government, opening up more opportunities for investment and business cooperation for the Vietnamese - Chongqing business community after going through 3 difficult years due to the Covid-19 pandemic and the difficulties of the world economy; but also made a substantial contribution to the implementation of the "Vietnam - China Joint Statement on further promoting and deepening the Vietnam - China comprehensive strategic cooperative partnership".

Deputy Minister Phan Thi Thang affirmed: "Over the past 20 years, China has always maintained its position as Vietnam's largest trading partner. Vietnam is also China's largest trading partner in ASEAN and China's 6th largest trading partner in 2022."

The Deputy Minister emphasized that, especially after the historic official visit to China by General Secretary Nguyen Phu Trong in October 2022, the comprehensive strategic cooperative partnership between Vietnam and China continues to be consolidated, enhanced and supplemented with new strategic directions in the future. "In the coming time, we will continue to witness important visits by high-ranking leaders of the two countries, creating a solid foundation for the Vietnam-China economic and trade cooperation relationship," Deputy Minister Phan Thi Thang informed.

The Ministry of Industry and Trade of Vietnam highly values ​​the role of Chongqing City - an important gateway in promoting economic, trade and investment exchanges and cooperation between the Southwest region of China and Vietnam. It can be said that the economic and trade cooperation between Vietnam and Chongqing, the working relationship between the Ministry of Industry and Trade of Vietnam and the People's Government of Chongqing City has a long history and has been continuously consolidated and developed in recent years.

The conference attracted a large number of Associations and enterprises operating in the fields of industry and import-export of Vietnam - China (Chongqing) to participate.

Even though direct exchanges were disrupted by the Covid-19 pandemic, the Vietnamese Ministry of Industry and Trade and the Chongqing government still made efforts to maintain the connection through the Chongqing Economic and Trade Cooperation Exchange Conference in September 2022 in an online format. Chongqing was also the locality chosen by the Ministry of Industry and Trade to establish the first Trade Promotion Office in China in 2015.

In order to continue to exploit and fully promote the potentials and needs of both sides, Deputy Minister Phan Thi Thang proposed that the Chongqing city government: First, pay attention to and create conditions for Vietnamese enterprises to export to Chongqing products with strengths (fruits, seafood, other agricultural products, textiles, etc.);

Second, support businesses of both sides to strengthen investment cooperation and share experiences in developing the agricultural and medicinal processing industry in which Chongqing has advantages, thereby helping to improve Vietnam's agricultural processing capacity;

Third, continue to facilitate the Vietnam Trade Promotion Office in Chongqing, China;

Fourth, create favorable conditions for the Chongqing Trade Commission and the Vietnam Trade Promotion Agency to effectively implement the Memorandum of Understanding on enhancing economic, trade and investment cooperation in the industry and trade sector between Vietnam and Chongqing.

For businesses of the two countries, especially those of Chongqing city, Deputy Minister Phan Thi Thang suggested: Firstly, it is necessary to proactively exchange and connect information on market demand and trade regulations and policies of each country through the system of Vietnam Trade Offices/Trade Promotion Offices in Chinese localities such as Beijing, Guangzhou, Nanning, Kunming, Chongqing, Hangzhou and soon Haikou and Chengdu;

Second, actively participate in international exhibitions held in each country such as: International Investment Trade Fair of Western China in Chongqing (IFCEW), International Food Fair Foodexpo, International Trade Fair Vietnam Expo... to connect directly, promote trade activities, economic and trade cooperation in a stable, long-term and effective manner.

Ms. Truong Quoc Tri - Vice Mayor of Chongqing Municipal People's Government expressed her agreement and support for the viewpoints and proposals from the Ministry of Industry and Trade of Vietnam. Chongqing hopes that Vietnam will encourage more Vietnamese enterprises to participate in the construction of the "New Road and Sea Route", and the two sides will expand practical economic and trade cooperation between enterprises, especially in some areas such as transportation, manufacturing, trading of new energy vehicles, silk, etc.

Ms. Truong Quoc Tri - Deputy Mayor of Chongqing Municipal People's Government expressed her agreement and support for the viewpoints and proposals from the Ministry of Industry and Trade of Vietnam.

Responding to the opinion of the Chongqing City Leader, Deputy Minister Phan Thi Thang affirmed the importance of expanding substantive cooperation between businesses of the two sides in trade and economy, especially when the actual trade turnover between Vietnam and Chongqing still accounts for a relatively modest proportion (3%) of the total trade turnover between the two countries.

Vietnam will continue to encourage Vietnamese enterprises with suitable conditions and needs to connect with Chongqing enterprises in particular and China in general to effectively exploit the “New Road and Sea Route”. In addition, it will continue to encourage Chongqing enterprises with high qualifications and advanced technology in the field of new energy vehicles to cooperate, invest and develop in Vietnam.

At the same time, the Vietnamese Ministry of Industry and Trade is ready to coordinate with the relevant agencies of China as well as Chongqing to act as an effective bridge for the business communities of both sides to carry out cooperation activities in the future.

The Vietnam - China (Chongqing) Trade, Investment Promotion and Business Connection Conference is an opportunity to open up new opportunities, continue to create favorable conditions for Vietnamese and Chinese (Chongqing) enterprises 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 statistics from China Customs, the two-way trade turnover between Vietnam and Chongqing in 2018 only reached 2 billion USD, but by 2019 it had doubled to 4.5 billion USD; in 2020, despite being significantly affected by the Covid-19 epidemic, the trade turnover between the two sides continued to grow strongly, reaching over 7.3 billion yuan, and in 2021, it maintained a growth rate of 7.93 billion USD.

The import-export turnover between Chongqing and Vietnam in the first 6 months of 2023 reached 3.01 billion USD, down 20.8% over the same period in 2022; of which Vietnam's exports to Chongqing reached 2.03 billion USD), down 18.5%. Vietnam's imports from Chongqing reached 973.36 million USD, down 23.7% over the same period. The main agricultural products imported by Chongqing from Vietnam in the first 6 months of the year: Durian reached 52.76 million USD; dragon fruit reached 15.3 million USD; Rice reached 3.6 million USD.

Source link: https://congthuong.vn/xuc-tien-thuong-mai-dau-tu-va-ket-noi-giao-thuong-viet-nam-trung-quoc-trung-khanh-279038.html