China Is Vietnam’s Top Trading Partner (And Don’t You Forget It)

China top trade partner of Vietnam: Vietnamese official
(Xinhua)

HANOI – A Vietnamese official described China as a top partner of Vietnam with two-way trade of over $66 billion in 2015 during an event held in Vietnam’s capital Hanoi on Monday.

Speaking at a business forumon Vietnamese and China’s Guangxi Zhuang autonomous region’s businesses, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) said Vietnam exported more than $17 billion worth of goods to China, mainly electronic spare parts, agricultural and seafood products, as well as coal among others in 2015, according to Vietnamese statistics.

Meanwhile, the country imported machinery and equipment from China, Vietnam’s state-run news agency VNA cited Khuong as saying.

Currently, China is running over 1,300 projects in Vietnam with total capital of over $10 billion, Khuong said, adding that the investment is forecast to surge in the near future.

Vice Chairwoman of Guangxi’s Trade Promotion Association Zhou Ling said the close geographical distance facilitates bilateral transport activities and cooperation in the spirit of making the best use of their strengths and potential.

Vietnam is expected to serve as an entrepot for China and Guangxi in particular to boost trade with the ASEAN business community, she said.

During the forum, Chinese businesses expressed their wish to seek investment opportunities and partners in the fields of hotel, food processing, health equipment, and agriculture.

What’s more, Chinese authorities counted $95.82 billion Sino-Vietnam trade in 2015, instead of Vietnam’s figure of over $66 billion. Both sides conclude that China has been Vietnam’s top trade partner for the past 12 years.

http://www.chinadaily.com.cn/business/2016-03/08/content_23781642.htm

Related:

Garment factory in Bien Hoa, Vietnam

Vietnamese merchants push a load of their good at the Lao Cai border gate between China and Vietnam on August 11, 2015.

Viet Nam People unload fruit imports from China for customs checks at a border gate in Lang Son Province, located in northern Vietnam.

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