Chinese businesses engaged in real estate, construction materials, power transmission, agriculture, plastic, chemical, general export and import, and project investment had exchange talks with Vietnamese partners at the recent Vietnam - China Business Forum in Hanoi. The event was held by the Vietnam Chamber of Commerce and Industry (VCCI) and the World Association of Chinese Elite Enterprises.
Mr Pham Quang Thinh, Deputy Director of VCCI International Relations Department, said that China has been Vietnam’s largest trade partner since 2004, with exchanges of goods between the two sides registering rapid growth over the past years. China is the biggest importer of Vietnam’s computer and components, natural rubber, coal and rice,
According to Vietnam’s customs statistics, the two-way trade revenue reached nearly US$60.5 billion in 2015, up 14 per cent against 2014, with Vietnam importing US$45 billion worth of goods from China, up 13.8 per cent year on year, and exporting US$15.5 billion worth of commodities to Vietnam, up 14.6 per cent. Vietnam ran a trade deficit of US$29.5 billion, an increase of 13.4 per cent over 2014.
Vietnam’s major exports to China include computers, electronic products, fibres and yarn, vegetables, cassava, crude oil, coal, rubber, rice and seafood while its key imports from China are machinery, equipment, electronic devices, cameras, camcorders, apparels, steel and fertilisers.
In terms of investment, as of the end of 2015, there have been 1,284 valid projects worth US$10 billion by Chinese investors in Vietnam. China ranked ninth among 105 countries and territories having investment projects in Vietnam.
Mr Thinh said, by the end of 2015, the ASEAN-China free trade area was officially implemented reducing tariffs on over 7,000 product categories to zero percent. In the future as the Trans-Pacific Partnership (TPP) is fully approved, Vietnam will function as a gateway into the large markets of ASEAN nations and the world.
“VCCI welcomes Chinese companies to come and learn about Vietnam's market, seek cooperation opportunities in trade, and transfer technology. We are ready to support Chinese firms in their cooperation process in Vietnam,” he said.
Mr Zhang Shuai, head of the delegation of the World Association of Chinese Elite Enterprises, hoped that Vietnamese and Chinese businesses will exchange cooperation opportunities and explore markets of each other.
He added that the cooperation of Chinese firms with Vietnamese businesses not only contributes to the development of Vietnam but also serves as a bridge for economic development between two sides. The cooperation among two countries' enterprises is expected to help ensure environmental protection as well as social benefits for both sides.
At the forum, Vietnamese and Chinese companies engaged in traffic indication and illuminating device production, import and export of woodwork and agricultural products, chemicals, minerals and agriculture shared information on their business performances, expressed their interests in cooperation in investment and business development.
Quynh Anh
Vietnamese
