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Tuesday, June 25, 2024

Vietnam, China foster trade cooperation

The Saigon Times

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HCMC – Vietnamese officials and the administration of China’s Guangxi Zhuang Autonomous Region have agreed to expand cooperation post pandemic, particularly in trade and investment.

The Guangxi region has become a vital gateway for Vietnam’s exports entering the Chinese market, said Minister of Industry and Trade Nguyen Hong Dien at a conference on Vietnam-China economic cooperation held recently in Hanoi.

In 2022, trade revenue between the Guangxi region and Vietnam’s provinces amounted to US$22.65 billion.

Vietnam has been Guangxi’s largest trading partner for 24 years in a row, according to Liu Ning, secretary of the Chinese Party Committee of the Guangxi Zhuang Autonomous Region.

In early 2022, the two countries made considerable efforts to clear a backlog of hundreds of container trucks stranded at border gates as China reopened for exports.

Liu said the Chinese administration planned to deepen cooperation with Vietnam’s counterparts, focusing on the information technology, electronics and food processing sectors.

The officials recommended enhancing traffic infrastructure in the border area and streamlining administrative procedures, with an eye on facilitating trade and promoting investment between the two countries.

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