Dr Doan Duy Khuong, Vice President of the Vietnam Chamber of Commerce and Industry (VCCI), recently hosted a meeting and exchange with a Chinese business delegation from Chongqing led by Mr Chen - Yu, Chairman of the Chongqing Council for the Promotion of International Trade (CCPIT), on its working visit to Vietnam.
CCPIT President Chen - Yu said Chongqing is a centrally governed city in southwest China, the largest region in China. It has a population of 33 million people and an area of 8.24 million square kilometres.
He said although trade revenue between Vietnam and Chongqing is still low, it is forecast to increase strongly in the coming time. Automobile and motorcycle (specifically Li Fan brand) are strengths of Chongqing. It is regarded as one of the key economic sectors of Chongqing and had world-wide reach.
In addition, Chongqing is also strong at organising international automotive and motorcycle trade fairs, conferences on freight transportation, logistics, genuine food production, infrastructure design planning, and regional transportation with which Vietnam can cooperates in the future.
Dr Doan Duy Khuong said, Vietnam - China trade relations have developed extensively in various in many aspects. Specifically, China is a top export market of Vietnam. The neighbour is also one of the largest trading partners of Vietnam. The two-way trade performance has frequently gone beyond expectations of both sides. Furthermore, Vietnam is advancing its integration process into the world through Trans-Pacific Partnership (TPP) and other free trade agreements (FTAs).
He added that Vietnam will give priority to socioeconomic stability in 2017 to ensure growth momentum. The country will carry out three breakthrough solutions: Restructuring the economy together with changing growth pattern; enhancing the productivity, quality and efficiency of production and business; and raising the competitiveness of the economy, encouraging sustainable entrepreneurship, developing enterprises and promoting growth. The country will strive for economic growth of 6.7 per cent and export growth 6 -7 per cent.
According to statistics from the Chinese customs authorities, in 2015, Vietnam was the second largest ASEAN trade partner of China with a total bilateral trade value of US$95.8 billion, up 14.6 per cent over 2014. Of the sum, China earned US$66.14 billion, up 3.8 per cent year on year while Vietnam took US$29.67 billion, up 49.1 per cent. China ran a trade surplus of US$36.46 billion, down 16.8 per cent year on year. By the end of July 2016, Vietnam emerged to become the largest ASEAN trading partner of China with a total bilateral trade value of US$52.26 billion, down 1.3 per cent year on year. Of the sum, China's exports to Vietnam valued US$33.52 billion, down 7.9 per cent and its imports from Vietnam were worth US$18.74 billion, up 13.1 per cent. Its trade surplus was US$14.78 billion. Notably, China’s imports from ASEAN countries reduced (by an average of 8.8 per cent but its imports from Vietnam still grew up.
Anh Phuong
Vietnamese
