PROMOTE TRADING, INVESTMENT AND ECONOMIC COOPERATION BETWEEN VIETNAM AND CHINA

In order to promote the development of economic and trade cooperation relations between Vietnam and China in general and with Yunnan province in particular, recently, the Department of Trade Promotion in coordination with the Department of Commerce of Yunnan organized a Promotion Conference. promote trade, investment and economic cooperation between Vietnam and China (Yunnan).

The conference was co-chaired by Director of the Trade Promotion Department Vu Ba Phu and Director of the Department of Commerce of Yunnan Province (China) Ly Than Duong. Attending the Conference, on the Vietnamese delegate’s side, there were representatives of functional units under the Ministry of Industry and Trade; Representatives of the Departments of Industry and Trade of 12 provinces and cities in Northern Vietnam: Hanoi, Quang Ninh, Hai Phong, Bac Giang, Lao Cai, Yen Bai, Phu Tho, Vinh Phuc, Hung Yen, Hai Duong, Bac Ninh, Son La ; Representative of the Vietnam Trade Office Branch in Kunming (China).

On the side of the Chinese delegates were: Representative of the Chinese Embassy in Vietnam; Leader of the Chamber of Commerce of Chau Hong Ha, Chau Van Son, Yunnan province, China. On the business side of the two countries, there are about 120 companies, production, import-export groups in many different fields of Vietnam and China attending the Conference.

The conference was held in the context that economic and trade activities between Vietnam – China border gates are being completely restored after 3 years of being affected by the Covid – 19 pandemic. This is also a meaningful activity, it aims to implement the common understanding reached in the Memorandum of Understanding on trade development cooperation between the Departments of Industry and Trade of 12 provinces and cities of Vietnam and the Department of Trade Promotion with the Department of Trade of Yunnan province.

Through this Conference, Vietnamese and Yunnan businesses have the opportunity to exchange, connect and promote cooperation to promote the export of Vietnamese agricultural and aquatic products to China in the form of official quotas. In the context that China has officially opened its doors, allowing many of Vietnam’s strong agricultural and aquatic products to be exported to the Chinese market in 2022 and taking advantage of the opportunity for China to lift preventive measures. Combating the Covid – 19 epidemic from January 8, 2023, creating favorable conditions for Vietnam’s export activities to the Chinese market.

According to statistics from Vietnam Customs, in 2022, Vietnam’s total import-export turnover with China will reach 175.6 billion USD, an increase of 5.5% over the same period in 2021. China continues to be a partner and the largest trade and import market to Vietnam.

Yunnan province plays a huge role in economic and trade cooperation between the two countries. Yunnan shares a border with 4 northern provinces of Vietnam, including: Lao Cai, Ha Giang, Lai Chau, Dien Bien. At the same time, it is an important trade gateway in the economic corridor of Kunming – Lao Cai – Hanoi – Hai Phong – Quang Ninh.

With the favorable location mentioned above, Yunnan province is an effective bridge for Vietnamese goods to go deep and far to provinces and cities in the Southwest region of China. And it is an important gateway to bring products and goods of Chinese enterprises through Vietnam to the potential ASEAN market.

Despite its important position, role and potential market with a population of 47 million people, Vietnam’s economic and trade cooperation with Yunnan is still not worthy. In 2022, Vietnam – Yunnan trade turnover will only reach 3.2 billion USD, accounting for a very modest proportion of the total Vietnam – China trade turnover. “The potential and space to exploit and develop economic and trade cooperation between localities of Vietnam and Yunnan province is still very large” – Mr. Vu Ba Phu emphasized.

Strengthen economic and trade cooperation

To continue to deepen the economic and trade cooperation between Vietnamese localities and Yunnan province in the coming time, leaders of the Trade Promotion Department also proposed:

Firstly, the two sides continue to closely coordinate and practically and effectively implement the Memorandum of Understanding between the Department of Trade Promotion and the Departments of Industry and Trade of 12 provinces and cities of Vietnam with the Department of Trade of Yunnan province through the Develop specific plans and organize trade promotion activities in many diverse forms. “In the immediate future, I would like to propose that the two sides organize trade promotion delegations alternately in the middle of the year and at the end of the year in Hanoi and Kunming,” Mr. Vu Ba Phu specifically stated.

Second, the two sides encourage and actively organize businesses to attend large, prestigious fairs and exhibitions held in each side to support businesses in promoting their products, brands , connection and trade.

Third, it is recommended that the Yunnan side create favorable conditions for Vietnamese businesses to promote the export of Vietnam’s strong agricultural and aquatic products to the Chinese market in the form of official quotas, especially products like durian, purple sweet potato, and bird’s nest.

“On the Vietnamese side, the Department of Trade Promotion is ready to coordinate with the Department of Trade of Yunnan province and localities of Vietnam to create favorable conditions for transporting goods of enterprises in Yunnan province and other provinces and cities. city ​​in the Southwest region (China) to a third country through Hai Phong and Quang Ninh seaports” – Mr. Vu Ba Phu affirmed.

Agreeing with the opinion of the leader of the Department of Trade Promotion, Mr. Ly Than Duong – Director of the Yunnan Department of Commerce – said that bilateral trade has large potential and space, thus encouraging businesses and further expand bilateral trade. For Yunnan, it is necessary to expand imports from Vietnam, especially tropical agricultural products and fruits. We hope that Vietnamese businesses will actively explore the market and expand exports to Yunnan.

“In addition, the two sides need to strengthen cooperation on exhibitions. Organize businesses to participate in exhibitions, trade fairs..etc, which held on the territory of your country to enhance mutual understanding, cooperation and bilateral exchange. In June this year, Yunnan province will host the Trade and Investment Negotiation Fair and National Product Exhibition of Southeast Asian and South Asian Countries in 2023″ – Mr. Ly Than Duong informed and proposed more , it is necessary to strengthen industrial cooperation. Yunnan province has established the Yunnan Trade Representative Office in Hanoi to provide more information on implementing economic and trade cooperation with Vietnam for Yunnan businesses, further promoting cooperation between businesses. both sides. “We support Yunnan businesses coming to Vietnam to implement investment cooperation, and welcome Vietnamese friends to invest and do business in Yunnan” – Mr. Ly Than Duong once again emphasized.

In parallel with the Conference, the Organizing Committee also organized a trade connection program between Vietnamese businesses and businesses in Yunnan province (China). Through this connection and exchange, businesses have the opportunity to learn more about each other’s import and export needs, identify potential partners, and then build appropriate production and efficient business plans.