Vietnamese, Chinese firms ink deals to bolster trade
Vietnamese and Chinese firms signed seven memoranda of understanding covering trade-economy, logistics, energy, agriculture, and media during a recent dialogue in Chongqing city of China.
Beijing (VNA)ꩵ – Vietnamese and Chinese firms signed seven memoranda of understanding covering trade-economy, logistics, energy, agriculture, and media during a recent dialogue in Chongqing city of China.
The event was attended by Vietnamese Prime Minister Pham Minh Chinh, coinciding with his working trip to the eighth Greater Mekong Sub-region (GMS) Summit.
Vietnam has solidified its position as Chongqing's largest trade partner in ASEAN, with ties growing exponentially since 2015. That year marked the establishment of the first official Vietnamese trade promotion office in Chongqing by the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade, a pioneering move that has yielded remarkable results.
In 2019, trade between Chongqing and Vietnam surged to an impressive 32.84 billion CNY (4.5 billion USD), reflecting a staggering 158.9% annual increase. Today, a steady influx of Vietnamese products ranging from coffee, fruits to seafood graces the markets of Chongqing. In return, automotive parts, motorcycles, and electronic products from Chongqing are increasingly in demand in Vietnam, creating a dynamic exchange that benefits both nations.
According to the Chongqing Customs, trade between the city and ASEAN hit around 11.2 billion USD from January-September, while that with Vietnam alone standing at 3.8 billion USD.
Chongqing's investment footprint in Vietnam is also expanding, with over 30 companies now operating in the production of electrical equipment, agricultural machinery, and motorcycle parts. The country has also become a critical export destination for automobiles and motorcycles produced in Chongqing.
Moreover, Vietnam remains the top Southeast Asian country for the highest volume of goods transported via the new land-sea corridor linking Chongqing.
As of September, the rail-sea intermodal trains from Chongqing to Vietnam transported a total of 53,000 containers valued at 11.4 billion CNY. From January-September, intermodal cargo transport reached 10,000 TEU, valued at 2.78 billion CNY, marking a 54% and 160% increase in volume and value, respectively, compared to the same period last year./.
Vietnamese Prime Minister Pham Minh Chinh on November 8 visited the Chongqing International Logistics Hub Park and welcomed an ASEAN express train from Hanoi, as part of his trip to attend the 8th Greater Mekong Subregion (GMS) Summit and working visit to China.
Vietnam is willing to offer the best possible conditions for its ministries, sectors, and localities to step up friendship exchanges and comprehensive cooperation with China’s Chongqing city, remarked Prime Minister Pham Minh Chinh while meeting a leader of the municipality on November 8.
A conference was held in Ho Chi Minh City on September 24 with a view to promoting cooperation between Chongqing city of China and the southern hub of Vietnam in the New Land - Sea Trade Corridor.
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The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
