Promotion conference to boost economic ties with China’s Sichuan province

On April 3, in Hanoi, a trade, investment, and economic cooperation promotion conference between Vietnam and China was held on the occasion of a working visit to Vietnam by officials of the International Trade Promotion Council of China’s Sichuan province.
Promotion conference to boost economic ties with China’s Sichuan province
Promotion conference to boost economic ties with China’s Sichuan province: Representatives of Vietnamese and Chinese businesses discuss on the sidelines of the conference. (Photo: VNA)

Le Hoang Tai, Deputy Director of the Foreign Trade Agency under the Vietnamese Ministry of Industry and Trade (MoIT), said China has officially opened its market to many strong agricultural and fishery products of Vietnam and especially, it has lifted COVID-19 restrictions since January 8, 2023.

He considered the conference a chance to grasp opportunities to boost export to China.

Huang Li, President of the Sichuan Council for International Trade Promotion, said the event was an occasion to create new opportunities and optimal conditions for businesses of Vietnam and China, including Sichuan, to further increase partnerships in trade and investment, thus helping develop bilateral economic and trade ties in a stable, balanced, and sustainable manner.

At the event, participants introduced opportunities and potential for trade and investment ties between the two sides. They also witnessed the signing of three memoranda of understanding between Vietnamese and Sichuan businesses.

According to the MoIT, Vietnam is the biggest ASEAN trading partner of Sichuan. With a large population and strengths in tourism, heavy industry, manufacturing, mining, and transport infrastructure, the Chinese province has been and will remain a potential partner of many Vietnamese localities in many areas.

Sichuan’s foreign trade reached 151.1 billion USD in 2022, up 2.7% year on year. That included about 11.3 billion USD in trade with Vietnam, accounting for 7.4%. Besides, the Chinese province holds an important position in inter-regional development strategies of China, giving it an important role in connecting China with neighbouring Southeast Asian countries, including Vietnam, according to the Conference.

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(Source: VNA)