China and Vietnam to cooperate more in agriculture

January 26, 2024 | 18:04

(0) user say

A delegation from the Ministry of Agriculture and Rural Development travelled to China for negotiations in early January, to promote closer cooperation on agricultural matters, including boosting exports.

"Vietnam and China are currently completing legal reviews for three memoranda on the export of naturally harvested aquatic products, along with farmed crocodile and monkey exports," said Tran Thanh Nam, Deputy Minister of Agriculture and Rural Development.

A promising year for agricultural products

Durian is the most valuable fruit exported to China

Both sides have also agreed on bilateral cooperation in various fields, including collaborations in green agriculture technology, emission reductions, and organic crops.

Moreover, the Plant Protection Department is coordinating with the General Administration of Customs of China to finalise prompt market access for fruit products such as pomelo, orange, tangerine, coconut, and frozen durian.

Other items such as traditional medicines, meat, and poultry are also facilitated for import by China.

According to the General Department of Customs, Vietnam's exports to China reached $61.2 billion last year, up 6.4 per cent compared to 2022. Among these, 12 export groups achieved turnovers of over $1 billion each.

The export turnover of agricultural products reached $27.14 billion, up to 18.8 per cent on year. Livestock products, aquatic products, and salt accounted for $515 million, $8.98 billion, and $5.9 million, respectively.

The growth in exports to China shone as a bright spot in Vietnam's overall export performance, especially considering the decline in exports to most major markets.

China is expected to remain a major market for Vietnam’s agricultural goods for more years to come due to its geographical proximity, convenient trade infrastructure, and understanding of consumer tastes.

Leverage for Vietnam's agricultural products to take off

Extensive international integration is opening up golden opportunities for Vietnam's agri-products. However, to capitalise on these opportunities, the value chain of agricultural products needs to be optimised to meet the strict requirements of the global market.

China drives Vietnam's agricultural export boom

Vietnam has witnessed a significant surge in agricultural trade with China, with the total import-export turnover between the two nations reaching an impressive $175.6 billion in 2022. Amidst the challenges faced by other key export sectors in the US and EU markets, Vietnamese agricultural products have experienced remarkable success, particularly in China.

Expanding agricultural brands

As a country with sizeable agricultural and handicraft production, Vietnam has a lot of excellent regional products, specialities, and handicraft items of very high quality. However, these commodities only have access to small local markets and few opportunities to access large domestic and foreign distribution systems.

By Hoang Minh

What the stars mean:

★ Poor ★ ★ Promising ★★★ Good ★★★★ Very good ★★★★★ Exceptional