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INVESTMENTOPPORTUNITIES

Vietnam's enterprises seeks opportunities to promote exports to China

Updated at Friday, 11 Nov 2016, 20:44
The Hanoitimes - The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade in collaboration with its office in Chongqing city held a workshop in Hanoi on November 9 to promote exports to China and lure Chinese investment into Vietnam.
The workshop aims to enhance Vietam's exports to the Chinese market as well as attract investment from China's enterprises into Vietnam.
The workshop updated domestic exporters on information on China’s markets as well as business opportunities, Deputy Director of the Vietnam Trade Promotion Agency (Vietrade) Do Kim Lang said. 
According to the Vietrade, by the end of July, Vietnam had become the biggest trade partner of China in ASEAN, with a total trade value hitting 52.26 billion USD, down 1.3 percent from the same period last year. 
Head of the Vietrade Office in China’s Chongqing city Dao Viet Anh stressed advantages for promoting trade exchange between the two countries.
Rice is one of 10 major commodities that Vietnam exported to China in 2015.
Rice is one of 10 major commodities that Vietnam exported to China in 2015.
China has a huge demand for Vietnamese agri-forestry-fishery products such as rice, cassava, rubber, fruits, tea, shrimp and catfish, he added. 
However, Vietnamese companies faced numerous obstacles to export goods to the Chinese market such as tariff, quarantine, and lack of information, Anh said, adding that they should work closely with relevant Vietnamese agencies in trading with Chinese partners. 
He suggested that enterprises should study further Chinese regulations and requirements on imports as well as tastes of Chinese consumers, while actively participating trade promotion activities to expand their markets. 
According to the General Department of Vietnam Customs, trade value between Vietnam and China reached 66.6 billion USD in 2015, up 13.4 percent from 2014.
Vietnam exported 17.1 billion USD worth of goods and imported 49.5 billion USD worth of goods, up 14.8 percent and 13.3 percent, respectively. 
Meanwhile, China exported 33.52 billion USD worth of goods to Vietnam, a 7.9 percent increase on year, and imported 18.74 billion USD worth of goods from Vietnam, increasing by 13.1 percent against the same period a year ago.
Thu Minh
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