Vietnam-China economic, trade ties to open up brighter future: Chinese daily
Vietnamese goods shipped to China via Kim Thanh International Border Gate No.2 (Photo: VNA) |
Beijing (VNA) – Vietnam and China have been tightening their economic and trade ties over the recent years, reflecting a strong vitality, said the International Business Daily, the mouthpiece of the Chinese Ministry of Commerce.
An article published by the daily said in the first half of this year, durian remained Vietnam's strongest export to China, of them over 90% fresh. Another Vietnamese fruit ready to penetrate the Chinese market is fresh coconut. The two countries have agreed to finalize the signing of a protocol on phytosanitary requirements for fresh Vietnamese coconut exports to China.
The newspaper quoted General Secretary of the Vietnam Fruit and Vegetables Association Dang Phuc Nguyen as saying that Vietnam’s official export quota agreement with China will present a significant opportunity for the Vietnamese coconut industry. Vietnamese fruit has a competitive edge in the Chinese market thanks to geographical proximity, short transport times, and low costs.
Statistics show that bilateral trade rebounded strongly in the first half of this year, reaching nearly 95 billion USD. Vietnam's imports from and exports to China amounted to 67 billion USD and 27.8 billion USD, up 35% and 5.3% year-on-year, respectively.
The countries have signed bilateral and multilateral agreements, including the ASEAN-China Free Trade Agreement (ACFTA) and the Regional Comprehensive Economic Partnership (RCEP). With these pacts, the bilateral trade is expected to continue growing in years to come, particularly in sectors such as agriculture, textiles, and electronics. According to the article, the signed bilateral agreements have significantly strengthened the strategic linkage between China’s “Belt and Road Initiative” and Vietnam’s “Two Corridors and One Economic Belt” framework. In the future, they also look to enhance cooperation within multilateral frameworks to meet their respective economic development needs, promote regional economic connectivity, and boost the economic vitality and global competitiveness of the Southeast Asian region.
In terms of connectivity, the first international freight train from Shijiazhuang (China) to Hanoi (Vietnam) was launched in July 2023, running more than 2,700 km. In the future, the two countries are set to accelerate connectivity construction and provide more convenient channels for economic and trade cooperation between them and in the region.
Durian at a Vietnamese fruit festival in China - photo: NDO |
The Vietnam-China ties in economy and trade have many highlights. Vietnam attracted investment from 84 countries and regions in the first half of the year, with China leading in the number of new projects, accounting for 29.1% of total foreign-funded projects in the Southeast Asian nation. This reflected that China's economic investment in Vietnam has become an important driving force for the development of bilateral relations, said the article.
In tourism, the number of Chinese visitors to Vietnam in the first three months of this year reached nearly 890,000, up 634.5% year-on-year. In terms of people-to-people exchange, 60 provinces and cities in Vietnam have signed friendship and cooperation agreements with their Chinese counterparts.
According to the newspaper, with the extensive cooperation between the two countries in industrial and supply chains, and standardisation, their economic and trade ties are poised to open up a brighter future./.
See also
Cheap capital returns to banks
16:20 | 26/12/2024 Economy
Vietnam emerges as strategic player in global economy
16:44 | 25/12/2024 Economy
Vietnam outpaces Bangladesh to become world’s second apparel - textile exporter
16:34 | 25/12/2024 Economy
Vietnam's e-commerce market exceeds 25 billion USD
14:22 | 25/12/2024 Economy
Foreign investment into Thailand up 118% in 11 months
14:13 | 25/12/2024 Economy
Removing Vietnam’s logistics bottlenecks
15:13 | 24/12/2024 Economy
See more news
2024 viewed as a “very miraculous” year for Vietnam: Chinese veteran journalist
14:48 | 24/12/2024 Economy
New FTas boost development of foreign markets for Vietnamese goods
16:42 | 23/12/2024 Economy
2024 economic growth propels Vietnam into its “Rising Era”
16:34 | 23/12/2024 Economy
Organic textiles produced in Vietnam
16:25 | 23/12/2024 Economy
Vietnamese aviation achieves high USOAP-CMA ratings in the region
16:08 | 23/12/2024 Economy
Year-end stimulus expected to boost economic growth
15:37 | 23/12/2024 Economy
Domestic factors to drive Vietnam's GDP growth in 2025: VinaCapital
15:30 | 23/12/2024 Economy
Vietnam – Italy trade cooperation promises bright prospects in 2025: Trade counsellor
15:08 | 23/12/2024 Economy
PM urges concerted efforts for economic growth of at least 8% in 2025
15:00 | 23/12/2024 Economy
UAE a vital market of Vietnam in Middle East: Ambassador
14:56 | 23/12/2024 Economy
Lao Cai – Hanoi - Hai Phong railway to foster Vietnam - China trade
09:17 | 27/12/2024 Trade
Ninh Binh promotes green tourism development
06:22 | 27/12/2024 Tourism
Agricultural, rural tourism provides opportunities for “take-off”
06:15 | 27/12/2024 Tourism
Air tickets from HCMC fully booked for Tet holiday
17:31 | 26/12/2024 Society
Cheap capital returns to banks
16:20 | 26/12/2024 Economy
Multimedia
Glorious tradition of the Vietnam People's Army
08:30 | 22/12/2024 Infographic
Total FDI registered in Vietnam hits 31.4 billion USD in January-November
09:02 | 17/12/2024 Infographic
First 11 months of 2024: Import-export turnover increases 15.4%
10:55 | 16/12/2024 Infographic
11-month agro-forestry-fishery exports exceed yearly target
19:55 | 15/12/2024 Infographic
Hanoi achieves or exceeds 23/24 socio-economic targets for 2024
08:57 | 13/12/2024 Infographic
Amended Electricity Law proves MoIT’s institutional improvement success
17:06 | 23/12/2024 Policy
Ministry proposes extending agricultural land tax exemption through 2030
15:06 | 23/12/2024 Policy
Gov't targets to gradually make English second language at schools by 2030
15:45 | 21/12/2024 Policy
Nine newly-adopted laws made public
16:42 | 20/12/2024 Policy
Industry sector asked to urgently restart Ninh Thuan nuclear power project
14:35 | 24/12/2024 Energy
Success story behind 500kV Circuit-3 transmission line project
16:43 | 23/12/2024 Energy
Ministry proposes incentives for renewable energy projects
16:17 | 20/12/2024 Energy
The Era of Advancement for Vietnam Industrial Park
17:15 | 19/12/2024 Industry
Vietnam increasingly attractive to foreign investors
14:17 | 24/12/2024 Investment
Nghe An Southeast Economic Zone aims to attract 1 billion USD in FDI in 2025
12:33 | 21/12/2024 Investment
Boeing aims to expand investment and cooperation in Vietnam’s defense sector
17:00 | 19/12/2024 Investment
Can Tho attracts non-state investment
10:21 | 17/12/2024 Investment
Banking sector: Capital flows with no congestion
15:35 | 25/12/2024 Finance-Banking
Cashless payment requires biometric data updating from January 1, 2025
10:30 | 24/12/2024 Finance-Banking
Year-end surge in property bond issuance amid financial challenges
09:39 | 20/12/2024 Finance-Banking
Vietcombank named most valuable brand in Vietnam
16:43 | 18/12/2024 Finance-Banking
Sowing millions of seeds to green Vietnam’s shared home
15:08 | 24/12/2024 Environment
Dong Thap revives red-crowned crane population
14:29 | 24/12/2024 Environment
Vietnam likely to face continued turbulent weather systems in 2025
14:26 | 19/12/2024 Environment
Nature-based projects help Mekong Delta fight climate change
16:31 | 18/12/2024 Environment
Innovative startup ecosystem witnesses strong development
09:21 | 25/12/2024 Science - Technology
Top 10 science and technology highlights in Vietnam in 2024 announced
15:10 | 24/12/2024 Science - Technology
Contracts worth 286.3 million USD inked at Vietnam Int’l Defence Expo 2024
17:02 | 22/12/2024 Science - Technology
Vietnam can partner with UK in developing nuclear power: Expert
12:43 | 21/12/2024 Science - Technology
Air tickets from HCMC fully booked for Tet holiday
17:31 | 26/12/2024 Society
Bac Ninh Province focuses on year-end market stabilization
16:21 | 25/12/2024 Society
Vietnam aims to reduce greenhouse gas emissions in agriculture production
08:57 | 25/12/2024 Society
Metro Line 1 serves 150,000 passengers on opening day
15:35 | 24/12/2024 Society
PV GAS sets many records, exceeds 2024 production, business plan
16:57 | 25/12/2024 Vietnamese Brands
“PV GAS - Green Energy Journey” marathon: Act for health, act for the environment
06:00 | 25/12/2024 Vietnamese Brands
PV GAS reviews maintenance and repair of gas facilities in 2024
15:27 | 24/12/2024 Vietnamese Brands
Vietnamese products make waves at Malaysia’s halal festival
15:06 | 24/12/2024 Vietnamese Brands
“City Tet Fest - Thu Duc 2025” New Year Festival to be held soon
16:33 | 25/12/2024 Culture
“Xen Dong” ceremony of Thai ethnic people recognised as national intangible cultural heritage
16:24 | 24/12/2024 Culture
Fireworks to light up sky over Hanoi on New Year celebration
15:13 | 23/12/2024 Culture
Vietnam’s high-end fashion targets Chinese market
10:04 | 22/12/2024 Culture
Ninh Binh promotes green tourism development
06:22 | 27/12/2024 Tourism
Agricultural, rural tourism provides opportunities for “take-off”
06:15 | 27/12/2024 Tourism
Son La rural tourism promoted
10:54 | 25/12/2024 Tourism
Vietnam aims to welcome 22-23 million international visitors in 2025
14:56 | 24/12/2024 Tourism