A conference on trade and investment promotion and economic cooperation between Viet Nam-Shandong (China) opened in Ha Noi on June 1.
The conference was co-chaired by Hoang Minh Chien, deputy director of the Ministry of Industry and Trade's Trade Promotion Agency, and Lin Yuan, vice chairman of China Council for the Promotion of International Trade Shandong Sub-Council.
The conference witnessed the signing ceremony of seven cooperation agreements between Vietnamese enterprises and Shandong enterprises.
At this conference, Vietnamese businesses and Shandong's businesses had the opportunity to promote cooperation in official export of Vietnamese agricultural and aquatic products to China in the context of that China has removed Covid-19 pandemic prevention measures since January 8, 2023, creating favourable conditions for Viet Nam's export activities to China.
The conference attracted more than 200 associations, production and import-export companies in many different fields of Viet Nam and China.
During the conference, representatives of the Trade Promotion Agency and the China Council for the Promotion of International Trade (CCPIT)'s Shandong Sub-Council introduced investment and trade opportunities for Vietnamese and Chinese businesses.
In order to promote stable and sustainable development of economic and trade cooperation between Viet Nam and Shandong Province, Chien proposed the two sides to encourage the businesses to attend large and prestigious fairs and exhibitions of Viet Nam and Shandong, such as Viet Nam International Trade Fair (Vietnam Expo), Viet Nam International Food Industry Exhibition (Vietnam Foodexpo). Those events are expected to help the businesses introduce their products, brands and organise trade connection activities.
Shandong should create favourable conditions for Vietnamese enterprises to promote the export of agricultural and aquatic products to China through official channels, especially agricultural products such as durian, purple sweet potato, bird nest that China has officially opened for them since 2022, Chien said.
Meanwhile, the Trade Promotion Agency will coordinate with the CCPIT's Shandong Sub-Council and localities of Viet Nam to create favourable conditions for businesses of Shandong Province to have long-term trade connection and cooperation with Vietnamese businesses.
The highlight of the conference was a Viet Nam-Shandong trade connection programme with the participation of more than 200 businesses in many fields, such as agricultural products - food, machinery equipment, rubber tires - auto parts, construction - building materials and other industries.
In the first three months of 2023, the trade value between Shandong and Viet Nam reached US$2.67 billion, up 1.63 per cent over the same period in 2022. Of which, Shandong's exports to Viet Nam reached US$2 billion, up 7.9 per cent; and imports from Viet Nam reached $672.65 million, down 13.35 per cent, according to the Trade Promotion Agency.
Main export items from Shandong to Viet Nam included mechanical machinery and electrical equipment, industrial chemicals, base metals, textile products, plastic and rubber, stone and glass materials.
Key import products from Viet Nam to Shandong were timber and wood products, plastic and rubber, mechanical machinery and electrical equipment, vegetables, textile products, animals and made-from-animal products, industrial chemicals and mineral products. — VNS