VN, China ponder trade potential

Tuesday, Nov 05, 2013 09:18

Rubber is manufactured by Phu Rieng Company in southern Binh Phuoc Province for export. Rubber is among Viet Nam's key exports to China. — VNA/VNS Photo Thanh Vu

HCM CITY — A delegation of 40 companies from China's Qinghai Province met yesterday with more than 100 Vietnamese business leaders to explore business opportunities.

Speaking at the event, Chai Wen Rui, consul general of China in HCM City, said Viet Nam and China had good relations in many areas, including business and culture.

Bilateral trade has increased strongly, reaching US$40.9 billion in the first eight months of the year and expected to top $60 billion by the end of this year, two years earlier than the target set by the two countries, he said.

Investment by Chinese companies has also increased in Viet Nam, he said.

Chinese firms have a total of 940 valid projects with total registered capital of nearly $5 billion in Viet Nam.

Vo Tan Thanh, director of the Viet Nam Chamber of Commerce and Industry (VCCI) in HCM City, said that Viet Nam still had a huge trade deficit to China.

The two countries have worked towards reducing the deficit, Thanh said.

Viet Nam's main exports to China include computers, computer accessories, natural rubber, garments and textiles, minerals, rice, seafood, tea and cashews.

It imports from China steel, fertiliser, petrol, plastic, cotton, machinery, garment accessories, animal feed and materials, and other items.

The event was organised by the VCCI in HCM City and Qinghai Province's Department of Commerce. — VNS

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