Viet Nam-Sichuan investment and trade promotion conference opens
Viet Nam-Sichuan investment and trade promotion conference opens
A conference on trade and investment promotion and economic cooperation between Viet Nam-Sichuan (China) opened in Ha Noi on April 3.
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About 120 companies, including manufacturing and import-export groups from many different fields of Viet Nam and China, attended the event organised by the Viet Nam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade and China Council for the Promotion of International Trade (CCPIT)'s Sichuan Sub Council, on the occasion of the CCPIT's business trip to Viet Nam.
Three memoranda of understanding on promoting investment and trade cooperation between Vietnamese enterprises and Sichuan enterprises (China) were signed at the conference.
At the conference, Le Hoang Tai, deputy head of Vietrade, said the conference created chances for enterprises of Viet Nam and Sichuan to connect and promote cooperation for boosting the official import and export of agricultural and aquatic products, machinery and equipment between the two sides.
Therefore, Viet Nam's enterprises could take opportunities to increase export activities to China, especially in the context that China has officially opened on January 8, allowing many kinds of Vietnamese agricultural and aquatic products to be exported to China, Tai said.
Meanwhile, Huang Li, head of CCPIT's Sichuan Sub Council, said this conference would open up new opportunities and continue to create favourable conditions for businesses of Viet Nam and Sichuan (China) in further strengthening exchanges and cooperation in trade and investment, contributing to promoting the stable and sustainable development of Viet Nam - China economic-trade relations.
Also at the conference, representatives of agencies and businesses in Sichuan Province (China) introduced the potential and opportunities in trade and investment cooperation between Viet Nam and China enterprises.
With a large population and strengths in tourism, heavy industry, manufacturing, mining and modern transportation facilities, Sichuan Province (China) is a potential partner of many localities of Viet Nam.
In recent years, the cooperation between Viet Nam and Sichuan (China) has continuously expanded in many fields thanks to the Regional Comprehensive Economic Partnership (RCEP) and operation of the China-Viet Nam intermodal railway.
Many large enterprises of Sichuan Province have invested in Viet Nam, contributing to localities' economic development in Viet Nam, Tai said. However, Sichuan's economic and trade cooperation with Viet Nam is still not commensurate with the two sides' potential.
He said there is still plenty of room for trade and investment cooperation between Viet Nam and Sichuan (China).
Especially, the operation of international air-railway model and the opening of the Chengdu – Lang Son – Ha Noi freight train will further improve the transport network in western China, helping the enterprises strengthen international trade connections between China and ASEAN countries, including Viet Nam.
In 2022, the trade turnover between Viet Nam and Sichuan only reached over US$11 billion, accounting for a very modest proportion of the total trade turnover between Viet Nam and China. Moreover, this trade turnover decreased by about 20 per cent on year due to the impact of the COVID-19 pandemic.
