More than 100 Shandong enterprises (China) were present in Hanoi to survey and find opportunities for trade and investment cooperation with Vietnamese enterprises...
China is one of the leading export markets of Vietnam, especially when purchasing power in the US and European markets is struggling. This is also a big market as each locality and region has different needs and requirements.
Shandong province, with 101.62 million people (in 2022), China's second most populous locality, is a very potential market for Vietnamese agricultural products.
TRADE GROWTH IS VERY HUMBLE
At the "Conference on Trade Promotion, Investment and Trade Connection between Vietnam and China (Shandong)" on June 1, more than 200 businesses of the two countries were connected and explored cooperation opportunities.
Hoang Minh Chien, Deputy Director of the Trade Promotion Department (Ministry of Industry and Trade), said that despite many negative impacts from the Covid-19 pandemic, economic and trade cooperation between Vietnam and China is still strong. constantly developing.
In 2022, Vietnam's total import-export turnover with China will reach 175.6 billion USD, up 5.5% over the same period in 2021. China continues to be the largest trading partner and import market. Vietnam's largest exporter.
With Shandong alone, two-way trade turnover reached nearly 14 billion USD, up 35.1% compared to 2021, accounting for 2.79% of Shandong's total import and export turnover with the world and accounting for 14.14%. Shandong's import and export turnover with ASEAN.
In the first 3 months of 2023, the import and export value of Shandong - Vietnam reached USD 2.67 billion, up 1.63% over the same period in 2022. In which, exports of Shandong to Vietnam reached USD 2 billion. , up 7.9%; imports from Vietnam reached 672.65 million USD, down 13.35%.
Businesses of the two countries meet and connect.
"Shandong is a potential market with a large scale, and a province that plays an important role in the Chinese economy, a locality that plays a fundamental role in industry with 41 large, important industries. It is an important connection point in the economic development strategy of the Northern region of China.Therefore, the potential and room to exploit and develop economic and trade cooperation between localities of Vietnam. The South and Shandong province are still very large," said Chien.
Deputy Director General of the Asia and Africa Market Department To Ngoc Son said that Shandong is a beautiful, rich, and hospitable province with many outstanding strengths.
However, the trade turnover between Vietnamese localities and Shandong province is still very modest, accounting for less than 6% of the total import and export turnover between China and Vietnam. This number is not commensurate with the potential, the mutual complementarity of the economy and the actual cooperation needs of businesses of the two sides.
NEED TO CREATE FACILITIES FOR BUSINESS OF TWO COUNTRIES
In order to promote economic and trade cooperation between Vietnam and Shandong province to develop stably and sustainably, Mr. Chien suggested, the two sides should encourage and actively organize businesses to attend fairs. Large, prestigious exhibitions are held at each side.
Such as Vietnam International Trade Fair (VietNam Expo), Vietnam International Food Industry Exhibition (VietNam Foodexpo) held in Vietnam and large, prestigious and prestigious fairs and exhibitions activities. The model was held in Shandong province (China) to support businesses to promote products, brands and connect and trade.
At the same time, the representative of the Ministry of Industry and Trade suggested that Shandong side create favorable conditions for Vietnamese enterprises to promote the export of agricultural and aquatic products with Vietnam's strengths to the Chinese market by special official channels. especially products such as durian, purple sweet potato, bird's nest that the Chinese side has officially opened for these products in 2022.
On the Vietnamese side, Mr. Chien affirmed that the Trade Promotion Department is ready to coordinate with the Trade Promotion Committee of Shandong province and localities of Vietnam to create favorable conditions for businesses in Shandong province to connect. , trade and long-term cooperation with Vietnamese enterprises. Thereby promoting mutual complementarity in economic and trade cooperation between the two sides, bringing practical benefits to people and businesses of each country.
Mr. Son also acknowledged that in recent years, the economies and businesses of the two countries have been greatly affected by the Covid-19 pandemic and the complicated developments of the world economic situation. direct contact trade opportunities to seek trade and investment cooperation opportunities.
Therefore, in the current context, Mr. Son suggested that the two sides need to actively exchange and connect information on market demand and each country's trade regulations and policies through a system of trade deals. Vietnam trade promotion offices in China's localities such as Beijing, Guangzhou, Nanning, Kunming, Chongqing, Hangzhou and hereafter Haikou, Chengdu.
At the same time, actively attend international fairs and exhibitions held in each country to connect directly and promote stable, long-term and effective trade and economic and trade cooperation activities.
In addition, Chinese enterprises in general, and Shandong in particular, support Vietnamese agricultural and seafood enterprises in the field of processing and cold supply chains, to enhance added value for products as well as to increase the value of their products. meet the increasing requirements of the Chinese market.