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Vietnamese PM suggests expanding Vietnam-China bilateral trade

Vietnamese PM suggests expanding Vietnam-China bilateral trade

Sunday, November 26, 2023, 17:01 GMT+7
Vietnamese PM suggests expanding Vietnam-China bilateral trade
Vietnamese Prime Minister Pham Minh Chinh (R) shakes hands with Chinese Minister of Commerce Wang Wentao. Photo: Vietnam Government Portal

Vietnamese Prime Minister Pham Minh Chinh, during a reception on Saturday for Chinese Minister of Commerce Wang Wentao, suggested Vietnam and China boost practical cooperation in all sectors, especially expanding trade to meet their production and consumption demands.

The Vietnamese government leader asked China to widen its door to Vietnamese goods for which China has a demand.

PM Chinh affirmed that Vietnam treasures, maintains, and develops the comprehensive strategic cooperative partnership with China, and considers it an objective requirement, a strategic and long-term choice, and a top priority in the country’s diplomatic policy.

He and Chinese Minister of Commerce Wang hailed the results of the two nations’ bilateral economic and trade cooperation.

Since 2004, China has always been Vietnam’s largest trade partner. The northern neighbor currently ranks fourth in terms of the foreign investment channeled into Vietnam and takes the lead in the number of projects in the Southeast Asian country.

In 2022, Vietnam became China’s fourth-biggest trade partner in the world and the latter’s largest trade partner in ASEAN.

In January-October this year, the two countries’ two-way trade reached US$140 billion.

PM Chinh also suggested enhancing traffic connectivity between the two countries, including the upgrade of a railway connecting China’s Kunming and Vietnam’s Lao Cai Province, Hanoi, and Hai Phong City.

The two sides need to restore disrupted supply chains, promote cross-border trade, facilitate goods clearance, and foster cooperation in e-commerce, the Vietnamese leader said.

He asked the Chinese authorities to actively coordinate with Vietnamese agencies to remove obstacles to some cooperation projects in Vietnam, such as the second phase of the Thai Nguyen iron and steel plant expansion project as well as the Ninh Binh and Ha Bac nitrogenous fertilizer plant projects in northern Vietnam in the spirit of 'harmonious benefits, shared risks.'

Chinese Minister Wang affirmed that Vietnam is an important trade partner of China. China wants to increase high-quality agricultural product imports from Vietnam.

He said that he would report PM Chinh’s suggestions to higher Chinese agencies.

Weng also pledged to continue working closely with the Vietnamese Ministry of Industry and Trade, relevant ministries, agencies and localities in Vietnam to effectively implement common perceptions and agreements reached by senior leaders of the two nations, while elevating their bilateral trade and investment ties to a new height.

Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen (R) receives Chinese Minister of Commerce Wang Wentao. Photo: Huu Hanh / Tuoi Tre

Secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen (R) receives Chinese Minister of Commerce Wang Wentao. Photo: Huu Hanh / Tuoi Tre

On the same day, Chinese Minister of Commerce Wang also met with secretary of the Ho Chi Minh City Party Committee Nguyen Van Nen, who said Wang’s visit took place at a time when Vietnam and China are celebrating the 15th anniversary of their comprehensive strategic cooperative partnership.

Secretary Nen said there is ample room for the two sides’ cooperation.

He expected to boost the collaboration between Ho Chi Minh City — Vietnam’s largest economic hub — and Chinese localities.

Meanwhile, Minister Wang was impressed by Ho Chi Minh City’s strong economic growth and highly evaluated the economic and trade cooperation potential of Vietnam and China in the future.

He sought to bolster the partnership with Vietnam in green and digital economy.

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Thanh Ha - Ngoc An - Minh Khoi - Huu Hanh / Tuoi Tre News

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