Vietnamese Minister of Industry and Trade Nguyen Hong Dien and Chinese Minister of Commerce Wang Wentao on Monday discussed preparations for the upcoming visits of high-level leaders.
The discussions took place as the two ministers co-chaired the 12th meeting of the Vietnam-China trade-economic cooperation committee in Hanoi.
The meeting was part of Wang Wentao’s agenda during a four-day (November 25-28) visit to Vietnam. It was also the first offline edition of the meeting after a three-years disruption caused by the Covid-19 pandemic.
The two delegations discussed solutions to some problems and areas of focus for the future; as also guidelines for more sustainable, stable and balanced economic cooperation between the two countries.
The two ministers agreed to exert more efforts towards acting on important common perceptions reached between leaders of the two parties and countries.
Minister Dien proposed several solutions for helping Vietnamese firms build up their brands, including opening up the Chinese market market further for Vietnamese agricultural products; expediting negotiations on a rice trading agreement; further facilitating the export of tropical rock lobsters from Vietnam to China; and opening more border gates for trade in farm produce, fisheries, and food.
Other proposals included the establishment of Vietnam trade promotion offices in the Chinese localities of Haikou and Hainan; boosting cooperation between localities of both the countries; effectively implementing signed agreements, including one on Vietnam-China supply chain; and facilitating Vietnamese firms in leasing warehouses, exporting via e-commerce platforms and piloting free-trade areas.
Wang Wentao agreed with the suggestions and recommended strengthening bilateral cooperation in many areas including agricultural trade, trade-defense cooperation, cross-border e-commerce, upgrade of border gates, and customs clearance.
China is Vietnam’s biggest trade partner with an export-import turnover of $139.2 billion in the first 10 months of this year, as also the only trade partner to exceed the $100-billion mark in the period, according to the latter's General Statistics Office.
In the 10-month period, Vietnam exported goods worth $49.4 billion to China, the second-largest figure among all countries; while importing goods worth $89.8 billion, the highest among all partners.
At a meeting last weekend with Wang Wentao, Vietnamese Prime Minister Pham Minh Chinh said he appreciated the growth in bilateral ties, especially after the visit of Party chief Nguyen Phu Trong to China in October 2022.
He said China was a top priority in Vietnam’s diplomatic efforts and stressed that the two countries were “both comrades and brothers.”
Chinh proposed that the two countries cooperate more to ensure continuous supply chain operations and urged Chinese firms to invest more in Vietnam.
The PM also conveyed an invitation for his Chinese counterpart Li Qiang to visit Vietnam soon.