Vietnam - China: Developing Trade Cooperation
Vietnam - China: Developing Trade Cooperation
"Developing Priorities of China - Vietnam Border Gates; Speeding Up Cooperation between China and ASEAN" was held on September 26th - 27th, 2004 in Pingxiang town (Guangxi, China) with the aim of strengthening economic cooperation between China and ASEAN and fostering border economic cooperation between China and Vietnam.
ASEAN and China recognize each other as major and high potential markets. In 2003, the ASEAN became China's fifth largest trade partner, while China was the ASEAN's sixth largest partner with bilateral trade value increased by 42.8 per cent compared with that of the previous year, reaching US$78.25 billion. In the first seven months of 2004, the value was 56.66 billion and the figure should reach US$ 100 billion at the end of the year according to the expert predictions. With turnover of US$100 billion, it is set to meet its trade targets one-year ahead of schedule.
To strengthen trade relations and gradually establish the China - ASEAN free trade area, a China - ASEAN trade fair in Nanning (Guangxi, China) will be organised annually as per an agreement reached by leaders at the leaders meeting "10 + 1" on October 8th, 2003 in Bali (Indonesia). This international trade fair is on a large scale with the participation of all ASEAN countries and China. Along with the exhibition, various activities enhancing bilateral ties such as seminars, conferences, business meetings and cultural exchanges will be conducted. The first trade fair, named China-ASEAN EXPO Nanning 2004, will be held on November 2nd - 6th, 2004. This is a good opportunity for Guangxi and Vietnam in terms of cooperation and development.
Vietnam is seen as the centre of the China - ASEAN free trade area. It adjoins China to the north, Laos, Thailand and Cambodia to the west and the north-west and the sea to the south and east. With advantages of both land and shipping routes, especially after the opening of the expressway linking Guangxi and ASEAN territories via Vietnam, Vietnam will become a intermediate area for conveyance of goods between ASEAN countries and Guangxi in particular and China in general.
In order to take full advantage of the upcoming trade opportunities, Guangxi and Vietnam should pay attention to enhancing their economic and trade cooperation, improving legal systems and upgrading infrastructure. Chinese leaders and Vietnamese counterparts at all levels should meet periodically to work at improving trade and investment relations, as well as solving any problems arising in the fields of goods conveyance and transit in a timely manner. Information relating to border polices, trade policies, taxes, and customs formalities should be exchanged regularly.
Vietnamese
