Vietnam, China discuss measures to promote bilateral trade

Thursday, 2020-08-13 17:38:57
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A container truck carrying goods to be exported to China at Tan Thanh Border Gate in Lang Son Province.
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NDO – The Vietnamese Ministry of Industry and Trade and the Chinese Ministry of Commerce jointly held the 9th Meeting of the Vietnam-China Working Group on Economic and Trade Cooperation via an online form for the first time on August 13.

The annual event is organised to discuss solutions to address difficulties regarding economic and trade cooperation between the two countries.

Since the organisation of the 8th meeting in December 2019, a number of issues have been handled including China’s admission of Vietnamese dairy products for export to China, China’s restoration of exporter status to three Vietnamese companies to export fishmeal to China, and China’s recognition of the Dong Dang-Pingxiang railway to be eligible to be used to export fruit to the Chinese market.

Notably, Vietnam-China trade revenues were maintained and indeed expanded in the early months of 2020 despite the COVID-19 pandemic.

Director of the Asian and African Markets Department under the Ministry of Industry and Trade, Le Hoang Oanh, suggested the two sides extend clearance times and restore import and export activities of goods at Vietnam-China border markets and gates.

She also suggested market opening for Vietnamese agricultural products and the establishment of a Vietnam Trade Promotion Office in Chengdu city in Sichuan province as well as boosting trade promotion and business transactions on online platforms.

The Ministry of Commerce of China said it would coordinate with the relevant ministries, branches and localities in China to study and implement Vietnam's recommendations while promptly resolving existing issues in bilateral trade relations.

The Chinese side also proposed several issues related to bilateral trade cooperation including Vietnam’s support for Chinese experts and investors to enter Vietnam, the acceleration of the handover progress of the Cat Linh – Ha Dong urban railway project, and others.

Trade revenue between Vietnam and China reached US$65.17 billion in the first seven months of 2020, up 4.79% over the same period in 2019.

China continues to be the largest trade partner of Vietnam and Vietnam has become the seventh largest trading partner of China.