Agriculture exports to China set to boom
Vietnam’s exports of agricultural products to China are expected to boom after the northern neighbor reopened its borders on January 8 after three years of closure due to Covid-19.
Deputy Minister of Agriculture and Rural Development Phung Duc Tien said China is a market of substantial potential with a population of 1.4 billion.
Vietnam’s exports of agricultural goods to the country account for about 19.2 per cent of its agricultural imports.
China’s border reopening presents a great opportunity for Vietnamese goods and agricultural products to penetrate deeply into the market, Deputy Minister Tien said.
Vietnam officially began to export durian to China last year. After one month, durian export revenue jumped 4.12 per cent. Thanks to the signing of protocols and the reopening of borders, exports of many agricultural products to China will grow strongly, the Deputy Minister believes.
General Secretary of the Vietnam Fruit and Vegetable Association Dang Phuc Nguyen, meanwhile, said fruit and vegetable exports to China make up over 50 per cent of Vietnam’s fruit and vegetable export revenue.
The reopening of China’s borders and Vietnam signing 15 free trade agreements will help boost exports of fruit and vegetables, he said. Vietnam earned total fruit and vegetable export revenue of $3.34 billion in 2022 and the figure is expected to hit $4 billion this year.
Deputy Head of the Border Station at the Huu Nghi Border Gate Tran Van Hung said around 1,000 vehicles transporting products for export and import have crossed the border gate every day since the border was reopened.
|Agriculture exports to China set to boom.|
Processing and export businesses are delighted at China reopening its borders. CEO of Hanfimex Vietnam said that after two years of closure, many Chinese people will now travel, leading to demand for cashew nuts to serve Chinese tourists increasing and helping boost cashew nut exports to Vietnam’s northern neighbor.
China reopening its borders just as the Lunar New Year (Tet) holiday approaches also creates many opportunities for seafood exports.
Chairman of the China Aquatic Products Processing and Marketing Alliance (CAPPMA), Cui He, said seafood consumption in China will recover and will return to previous levels before the Lunar New Year.
Deputy Head of the Border Station at the Kim Thanh International Border Gate in Lao Cai, Senior Lieutenant Hoang Minh Du, said that since January 8, the volume of goods traded via the border gate has increased daily.
In particular, on January 11, the border gate saw 71 trucks carrying goods for export and 158 trucks carrying goods for import. Before the outbreak of COVID-19, about 200 trucks would pass through the border gate daily.
The Kim Thanh International Border Gate No. II opens from 7am to 7pm daily for drivers transporting goods.