News

Ample room remains for Vietnam-China trade: Meeting

China
Vietnam
Regulation & Compliances
Market & Price Trends
Published Nov 30, 2023

Tridge summary

The 12th meeting of the Vietnam-China Economic and Trade Cooperation Committee was held in Hanoi, with both countries discussing ways to enhance economic cooperation. Vietnamese Minister of Industry and Trade, Nguyen Hong Dien, encouraged China to support Vietnamese businesses in building trademarks and expanding market access for agricultural products. Chinese Commerce Minister, Wang Wentao, expressed China's willingness to open its market to high-quality agricultural goods from Vietnam and agreed to facilitate customs clearance for goods at border gates.

Vietnam and China discussed various areas of economic cooperation, including trade, investment, digital economy, and green development. They also agreed on a plan to organize the 13th meeting of the committee in China. China has been Vietnam's largest trading partner and goods supplier for many years, and Vietnam has become China's fourth largest trade partner in the world and its largest in ASEAN. This meeting marks the first face-to-face meeting between the two countries in three years due to the COVID-19 pandemic.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

In his speech, Dien said this is concrete evidence of the increasingly important role of the Vietnam - China economic cooperation and trade for each country's economy. Dien suggested the Chinese side support Vietnamese businesses in building trademarks in China and open its market for more Vietnamese agricultural products, and urged the signing of a framework agreement on rice trade between the two nations. The minister called on Chinese authorities to set a transition period for spiny lobsters imported into China, and expand the list of border gates between China and Vietnam that are allowed to import agricultural and aquatic products, and food. Dien also mentioned Vietnam’s plan to complete procedures to establish a trade promotion office in Haikou, Hainan, China in 2023; and strengthen economic and trade cooperation and work coordination between the Ministry of Industry and Trade (MoIT) and Vietnamese localities and Chinese localities. He urged the Chinese side to effectively ...
Source: WTOCenter
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