Vietnam became China’s fourth-largest trade partner in 2022 and its largest in ASEAN.

Vietnam has proposed that relevant Chinese bodies support Vietnamese businesses in building trademarks in the country, open its market to more Vietnamese farm produce, and soon sign a framework agreement on rice trade between the two countries, the Government News reported.

It quoted Minister of Industry and Trade Nguyen Hong Dien as making the remarks at the 12th meeting of the Vietnam-China Economic and Trade Cooperation Committee on November 27, which he co-chaired with Chinese Minister of Commerce Wang Wentao, who is paying an official visit to Vietnam from November 25-28.

Minister Dien also proposed that Chinese authorities expand the list of border gates between China and Vietnam permitted to import agricultural and aquatic products and food; complete procedures to set up a Vietnam Trade Office in Hainan, in 2023; and increase economic and trade cooperation as well as coordination between the Ministry of Industry and Trade (MoIT) and Vietnamese localities and Chinese localities.

He also mentioned Vietnam’s plan to complete procedures to establish a trade promotion office in Haikou, Hainan, in 2023; and strengthen economic and trade cooperation and coordination between the MoIT and Vietnamese localities and Chinese localities.

On his side, Minister Wentao said China is ready to coordinate with relevant Vietnamese authorities to resolve issues of mutual concern, affirming that the Chinese market has great demand for and welcomes high-quality farm produce from Vietnam.

He proposed many new ideas for expanding and facilitating bilateral economic and trade cooperation, such as increased cooperation in agriculture; cooperation in trade defense and in cross-border e-commerce; and promoting the opening or upgrading of border gates and developing smart border gates; among others.

China has been Vietnam’s largest trading partner and goods supplier and its second-largest export market for many years.

Notably, Vietnam became China’s fourth-largest trade partner in 2022 and its largest in ASEAN.

Source: VnEconomy