“Vietnamese companies signed contracts worth nearly US$20 million with foreign partners at Canton Fair 2013,” said Mr Ta Hoang Linh, Deputy Director of the Vietnam Trade Promotion Agency (Vietrade), the Ministry of Industry and Trade at a recent event in Hanoi that introduced the 115th China Import and Export Fair (Canton Fair 2014). More than 100 Vietnamese companies and Chinese firms operating in Vietnam attended the event.
This introductory event aimed to make the fair a world trade event and attract more Vietnamese exhibitors to visit, showcase and make deals at the Canton Fair 2014. It was organised by the China Foreign Trade Centre, the China Chamber of Economy and Trade under the Chinese Embassy in Vietnam, the Vietnam Trade Promotion Agency (Vietrade) and the Vietnam Chamber of Commerce and Industry (VCCI).
Xu Bing, Deputy Director of China Foreign Trade Centre, said introducing the fair, its potential opportunities and its development potential.
He said Canton Fair is a professional and general trade fair. This is regarded as the No. 1 trade fair in China. A trade fair showcases 150,000 types of high-quality products made by Chinese and foreign companies. Among 15 industries on display in Canton, the exhibition complex, covering an area of 80,000 square metres, has seven zones dedicated to specific industries. In recent years, each fair attracts 200,000 enterprises from 210 countries around the world. The 114th Canton Fair, which took place on November 4, 2013, drew over 189,646 companies from 212 countries and territories. He said that bilateral trade between China and Vietnam surpassed the threshold of US$50 billion in 2013, up 1,600 times over 1991 with just US$32 million. He expressed his hope that Chinese and Vietnamese businesses can expand their cooperation through the fair.
Xu Qisong, Commercial Counsellor of the Chinese Embassy in Vietnam, said Vietnam-China bilateral trade turnover rose more than 30 percent year on year in 2013 to approximately US$65.5 billion. Vietnam is one of the fastest-growing trade partners of China. The two countries exceeded the goal of US$60 billion of two-way trade revenue in 2015 and is aiming for US$100 billion in 2017.
He added that, according to the statistics by Vietnamese authorities, China invested US$2.3 billion into Vietnam in 2013, ranking 4th among foreign investors in the country.
According to Vietrade Director Ta Hoang Linh, Vietnamese exhibitors at Canton Fair 2013 spoke highly of the event and said that foreign customers were very keen on Vietnamese farm staples like rice, coffee, tea, agricultural products and consumer goods. Their booths welcomed 10,000 visitors during the event. Many signed valuable contracts with international partners here.
He said Vietrade will lead a Vietnamese business delegation to Canton Fair 2014 in Guangzhou, China. Vietnamese enterprises will join from the third section, from May 1 to 5, 2014 and display products, primarily agricultural products, foodstuffs and handicrafts, on 210-square metre booth.
Quynh Anh
Vietnamese
