Two-way trade between Vietnam and China are expected to reach $15 billion in 2010 following rapid development of bilateral investment and trade cooperation in recent years, said Chinese Ambassador to Vietnam, Hu Quian Wen in an interview with Business Forum Newspaper.
In the first eight months of this year, the bilateral trade attained $6.22 billion, up 19 per cent on-year, generating a high hope of reaching $10 billion in total trade value this year, four years ahead the target set by the two governments, he stressed.
Notably, Vietnam’s upcoming admission to the World Trade Organization will bring more opportunities for economic and trade cooperation of the two sides, Wen added.
“With these advantages, I absolutely believe that the bilateral trade will increase to $15 billion in 2010,” said the ambassador.
He also stated that the Chinese Government would continue to encourage businesses to collaborate with Vietnamese enterprises to enhance economic and trade cooperation in all aspects for the sake of mutual benefit and prosperity.
In addition, the government would also facilitate local enterprises to further invest in textile raw materials, electric appliances, paper and pulp, digital machines, construction equipment, agricultural and cement production, automobiles and motorbike, and fertilizer in Vietnam.
By late August this year, China had invested $805 million in 382 projects in Vietnam. The figure was still modest compared to other nations and lagged far behind its potential, Wen said.
The recent launch of the Vietnam-China Business Forum would become a bridge for businesses of the two countries, helping to accelerate investment in the coming time, he added.
VNS, Business Forum
Vietnamese
