Vietnam-China trade conference resumes after three-year hiatus

The Guangxi-Vietnam trade and economic cooperation conference was held on January 12 in collaboration with Trade Office of Africa-West Asia-South Asia Market (TOAAAM), the Ministry of Industry and Trade (MoIT), and the Guangxi province's Department of Commerce (DCG).

The Guangxi-Vietnam trade and economic cooperation conference

The Guangxi economic and trade delegation included representatives of DCG, Nanning Customs, the Development and Reform Commission, the Department of Industry and Information Technology, the Department of Transportation, sub-units responsible for local trade in Guangxi, and nearly 30 enterprises in various fields.

According to To Ngoc Son, deputy director of TOAAAM, Guangxi has played a significant role in developing bilateral commercial cooperation between Vietnam and China throughout the years.

Son said that Guangxi and Vietnam's import-export turnover in the first eleven months of 2022 totalled $25.5 billion, accounting for 29.3 per cent of Guangxi's overall import-export turnover. For 23 years in a row, Vietnam has been Guangxi's biggest international commercial partner.

The conference saw the signing of three types of cooperation agreements. Signed by firms with state capital, the agreement includes five-year order contracts between manufacturing and trade enterprises. The projected value of commercial contracts is $133 million.

"We must acknowledge that the trade of commodities between the two nations has several obstacles," the MoIT spokesperson said.

In particular, the volume of imports and exports passing via Vietnam's border crossings with Guangxi has declined dramatically. In the first eleven months of 2022, import and export turnover with China via border gates in Lang Son declined by 39.4 per cent when compared to the same period in 2021, and import and export turnover with China through border gates in Quang Ninh decreased by 68.7 per cent.

Son then requested that the DCG collaborate with Guangxi's agencies to quickly finalise the procedure and rules for imported and exported people and goods, resulting in maximum ease of customs clearance and restoring the situation to pre-outbreak levels.

Moreover, he suggested that the businesses of the two nations actively investigate and take advantage of the capacity of customs clearance of goods through border gates in Quang Ninh and Cao Bang provinces, thereby relieving pressure on border gates in the Lang Son area and minimising the risk of cargo congestion until the end of 2021.

"Vietnamese enterprises must perform a good job of product quality control, intensify study of import rules on the Chinese side, and guarantee items are cleared efficiently, saving businesses time and money," Son said.

Guangxi's deputy director of the DCG, Diao Weihong, said that Guangxi was eager to cooperate with Vietnam to enhance collaboration between the two countries, and he hoped for more extensive and fruitful commercial relations.

"The economic and trade cooperation between Guangxi and Vietnam has reached an important stage of development. We plan to take advantage of this visit to promote the 'State of Guangxi, Strength of Guangxi' in Vietnam by focusing on collaboration, creating mechanisms, and trade development," Diao said.

The Guangxi Economic and Trade Delegation will conduct important economic and trade operations in Hanoi and Ho Chi Minh City during its business trip. In addition, the group will visit and cooperate with the MoIT, the Chinese Chamber of Commerce, and Long Giang Industrial Zone in the Mekong Delta province of Tien Giang.

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