Vietnamese, Chinese firms sign cooperation document in farm produce, food
The Vietnam Trade Promotion Agency (Vietrade) under the Ministry of Industry and Trade (MoIT) and the Department of Commerce of China’s Yunnan province organised a conference on trade promotion and economic cooperation in Hanoi on December 20.
Trade between Vietnam and China reaches 175.6 billion USD last year. (Photo: VNA)
Hanoi (VNA) – The Vietnam Trade PromotionAgency (Vietrade) under the Ministry of Industry and Trade (MoIT) and the Departmentof Commerce of China’s Yunnan province organised a conference on trade promotion and economic cooperation in Hanoi on December 20.
Three cooperation documents between Vietnamese and Yunnanbusinesses in farm produce and food were signed on this occasion.
Vietrade deputy head Le Hoang Tai stressed that Vietnam's joining of new-generation free trade agreements (FTAs) has created favourablelegal frameworks for its economic and trade ties with countries worldwide to growfurther.
He cited statistics by the General Department ofVietnam Customs showing that trade between Vietnam and the neighbouring countryreached 175.6 billion USD last year, an increase of 5.5% from 2021. In thefirst 11 months of 2023, the revenue was estimated at 155.8 billion USD, and thewhole year’s value is expected to be equal to that of 2022.
However, he noted that economic and trade relations between Vietnam and Yunnan have yet to match the potential of both sides, as two-waytrade stood at only 3.2 billion USD last year, and 2.2 billion USD in the first10 months of this year.
According to the Yunnan Department of Commerce, Yunnanmainly exports coking coal, fertilizer, electricity, electrical machinery andequipment, chemicals and agricultural products to Vietnam, while importingyellow phosphorus, tropical fruits, wood products, peeled boards, medicinalherbs, fresh cassava, cassava starch, and agro-aquatic products from theSoutheast Asian nation./.
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Trade between Vietnam and China reaches 175.6 billion USD last year. (Photo: VNA) 
