Vietnam urges China to expand market access for agricultural products and strengthen trade ties

This suggestion was made during a meeting on September 30 in Beijing with Chinese Vice Premier He Lifeng, held as part of the 13^th session of the Vietnam-China Joint Economic and Trade Cooperation Committee. The meeting highlighted opportunities to deepen bilateral trade, particularly in the agricultural sector.

Minister Dien called on China to expedite the process of opening its market to key Vietnamese products such as citrus fruits, avocados, custard apples, and cardamom.

He also urged China to quickly finalise a protocol on quarantine requirements for several fruits traditionally exported to the country. "This move will give Vietnamese agricultural products greater access to Chinese consumers," he said.

He reiterated that the Vietnamese government and the Ministry of Industry and Trade are fully committed to facilitating the smooth export of goods, including agricultural produce, from China to Vietnam.

Minister Dien also expressed Vietnam's expectation that China will streamline customs procedures at border checkpoints, thereby preventing congestion at specific entry points, particularly for Vietnamese agricultural and seafood exports. This measure will help prevent bottlenecks and enhance the flow of goods across the border.

Additionally, Vietnam's leadership proposed closer cooperation to ensure the uninterrupted operation of supply chains between the two countries. Minister Dien specifically recommended the joint development of three railway links connecting Vietnam and China (Lao Cai - Hanoi - Haiphong; Lang Son - Hanoi; Mong Cai - Ha Long - Hai Phong).

He also sought China's support in building the brand identity of several Vietnamese products, including dairy, seafood, and processed foods, in the expanding Chinese market. This effort aims to help Vietnamese goods penetrate further into China's domestic retail networks and e-commerce platforms.

In response, Vice Premier Lifeng acknowledged China's significant imports of agricultural products from Asia and ASEAN, noting that Vietnam holds a 20 per cent share of this market.

"Vietnamese fruits, such as dragon fruit and durian, are well-loved by Chinese consumers," he said, affirming China's support for importing agricultural goods that resonate with domestic preferences.

He also mentioned the upcoming 7^th Import Expo in Shanghai, an event initiated by President Xi Jinping.

Vietnamese businesses are being encouraged to participate, as it will offer a valuable opportunity to increase exports of high-quality agricultural products to Chinese consumers and other global markets.

Regarding the proposed railway projects, Vice Premier Lifeng confirmed China's interest and willingness to support the initiative. However, he stresses the need for both sides to assess these projects to ensure that they provide the greatest benefits for businesses and individuals in both nations.

For over 20 years, China has been Vietnam's largest trade partner, while Vietnam has become China's top trade partner in ASEAN and its fifth-largest globally as of 2023.

In the first eight months of this year, bilateral trade reached $130.8 billion, a 23.7 per cent increase that accounted for 25.5 per cent of Vietnam's total foreign trade.

On the investment front, China led in the number of newly registered projects in Vietnam during the first seven months of 2024, with 540 new projects valued at $1.22 billion, representing 29.7 per cent of all new projects in the country.

Future deals to bode well for China ties Vietnam and China have agreed on fresh measures to beef up their trade and investment last week, with several new projects tabled.

Vietnam set to boost agricultural exports to China Vietnam in the first six months of this year harvested a bumper crop from its agro-forestry-fishery exports to China which is now its largest buyer in this sector.