Vietnam Anticipates Chinese Expansion of Agro-fishery Market Access

The Deputy Prime Minister, Tran Luu Quang, encouraged the Chinese government and Yunnan province to expedite the access of agricultural, aquaculural, and processed food products to the market, as well as enhancing customs clearance efficiency.

Vietnam Expects Chinese Market Opening For Agro-fishery Products
Deputy Prime Minister Tran Luu Quang speaks at the opening ceremony of the 7th China-South Asia Expo and the 27th Kunming Import and Export Fair. Photo: VGP

Deputy Prime Minister Tran Luu Quang on August 16 led the Vietnamese delegation to attend the opening ceremony of the 7th China-South Asia Expo and the 27th Kunming Import and Export Fair.

Speaking at the opening ceremony, the Deputy Prime Minister expressed his belief that the expo – China’s largest-scale international trade promotion event with South Asia will be a great success.

This year’s expo took place in the context that the international and regional situation is undergoing rapid changes, beyond normal forecasts.

In that context, Vietnam appreciated the role and importance of the expo and many other events held on this occasion.

The event is a practical action to support the business community of countries in the region to expand investment opportunities, increase trade exchange, promote production and business, overcome immediate difficulties, and gradually recover after the pandemic.

With the desire to contribute to the overall success of the expo, this year, Vietnam has a business delegation and representatives of seven provinces and cities of Vietnam, including Hanoi, attending a total of 130 booths.

The booths display products from traditional fields such as food, beverages, footwear, seafood, furniture, and handicrafts.

The Deputy Prime Minister affirmed that the Vietnamese Government attaches great importance to developing economic, trade, industrial, and investment relations with China and South Asian countries. China has been Vietnam’s largest trading partner for the past 20 years and is also the sixth-largest investor in Vietnam.

Vietnam is also China’s 4th largest trading partner and China’s largest trading partner in ASEAN.

In the overall relationship with China, Yunnan province has an important position, as a gateway market connecting southwest China with Vietnam and ASEAN countries.

Economic, trade, investment, and tourism cooperation between Yunnan and Vietnam still has many prospects and room for development, especially the expansion of imports of high-quality agricultural and aquatic products from Vietnam, and cooperation in wood processing.

The Deputy Prime Minister proposed that the Chinese Government and Yunnan province promote comprehensive cooperation, deepening connectivity in the economy, trade, and tourism between Yunnan province and the localities of Vietnam.

This allows Yunnan to contribute more to economic and trade cooperation between Vietnam and China particularly, and between China and countries in the region.

Vietnam Expects Chinese Market Opening For Agro-fishery Products
The Deputy Prime Minister expressed his hope that the Chinese Government and Yunnan province would continue to facilitate trade and speed up the progress of market opening for agricultural and aquatic products. Photo: VGP

Vietnam wishes to strengthen comprehensive relations with China and other countries in the region

On this occasion, Deputy Prime Minister Tran Luu Quang introduced the potential and strengths of Vietnam – a country with outstanding competitive advantages, with conditions to become an ideal destination for foreign investors, attracting new generation of FDI capital.

Vietnam is a potential destination in the process of shifting and restructuring the global supply chain and production network.

Many prestigious associations and organizations in the world positively evaluated the growth prospects and business environment in Vietnam in 2023. They forecast that Vietnam will continue to maintain growth among the highest in the region and the world.

In order to create more favorable conditions for businesses from other countries participating to invest in the southwestern region of China, the Deputy Prime Minister wished that the Chinese Government and Yunnan province continue to facilitate trade, speed up market opening for agricultural, aquatic products, processed foods and improve customs clearance efficiency.

The Deputy Prime Minister also suggested that China continue to improve the operational efficiency of trade and investment representative agencies and business associations.

He expressed his belief that along with the common development trend of the world, this year’s expo will be a good opportunity for businesses to seek cooperation possibilities, further strengthen mutual understanding, and solidarity, overcoming challenges for development and prosperity.

The 7th China-South Asia Expo took place from August 15 to 20 with the participation of 85 countries, territories, and international organizations, including all countries that are members of the Regional Comprehensive Economic Partnership (RCEP).

Trade between China and countries in South Asia grew by an average of 8.3%, from US$100 billion in 2013 to US$197.4 billion in 2022.

Rosie Nguyen