Hanoi (VNA) – A Vietnam-China trade promotion forum was held in Hanoi on December 20to seek ways to further boost economic cooperation, trade and investmentbetween the two countries in the future.

The event was jointlyheld by the Chinese Embassy in Vietnam, the Ministry of Foreign Affairs, thePeople’s Committee of Hanoi and the Vietnam Chamber of Commerce and Industry(VCCI).

Addressing theconference, VCCI Chairman Vu Tien Loc said that since 2004, China has always beenthe biggest trade partner of Vietnam and, at the same time, the leadingimporter of Vietnam’s computers, accessories, natural rubbers, coals and rice, aswell as the second largest market of Vietnam after the US.

By November 2018,China had invested 13.05 billion USD in 2,102 projects in Vietnam, mostly inareas of processing, energy, real estate, garment and textile, electronics and service.

However, Vietnam hasstill suffered trade deficit with China with increasing imports, said Loc,suggesting that China import more Vietnamese strong products to balance two-waytrade.

Chairman of thePeople’s Committee of Hanoi Nguyen Duc Chung said that the city always paysattention to cooperation activities and programmes with Chinese localities andbusinesses for mutual benefits.

So far, Hanoi hashosted 425 Chinese-invested projects worth 517 million USD.

Chinese enterpriseshave registered to open 100 representative offices in Hanoi, he noted.

As part of theplanning for the implementation of the “Two corridors, one economic belt”initiative, Hanoi has actively engaged in economic cooperation conferences heldin different localities of the two countries, and signed collaboration deals inmany areas, said the city leader.

But he held thatbilateral economic, trade and investment affiliation has yet to meet thepotential of both sides, as import-export volume has yet to be balanced. In thefuture, the city will focus on reviewing main products suitable for export toChina, and continue reforming administrative procedures regarding import-exportactivities, he pledged.-VNA