Vietnam, China’s Chongqing enjoy stronger trade ties

A business connection session between Vietnamese and Chinese enterprises (Photo: VNA)

More than 30 enterprises from southwest China's Chongqing city invested in 21 manufacturing projects worth over 569 million USD in Vietnam by the end of 2022, Trieu Thuy Nga, head of the Vietnam trade promotion office in the Chinese city reported.

According to Nga, the office has supported many Chinese businesses that had plans to invest in Vietnam, providing them with information on the country's investment environment and policies; and consultations on procedures related to investment, building factories and establishing companies in the Southeast Asian nation.

Since early this year, many agencies and businesses in Chongqing and Sichuan have contacted the office, asking for support in organising working delegations to Vietnam to explore investment and business opportunities, Nga said.

As scheduled, the Trade Promotion Agency (TPA) under the Ministry of Industry and Trade (MoIT) will attend the Western China International Fair 2023 in Chongqing, while a delegation of the Chongqing Municipal Commission of Commerce (CMCC) will make a field trip to Vietnam, in May or June this year.

Nga said her office will continue to well perform the 2023 Action Plan on implementing the MoU on strengthening economic, trade and investment cooperation signed between the TPA and the CMCC in September 2022, focusing on organising the 32nd Vietnam International Trade Fair, the Vietnam Foodexpo 2023, the Western China International Fair 2023 in Chongqing, conferences to promote trade and investment cooperation between the two sides, field trips and meetings for representatives of the MoIT and the Chongqing authority.

The Vietnam trade promotion office, which was set up in Chongqing in 2015, has contributed to strongly promoting economic and trade ties between Vietnamese localities and Chinese city in particular, and between Vietnam and China in general.

Statistics of China Customs show that in 2018, the import-export turnover between Vietnam and Chongqing reached only 2 billion USD, which doubled to 4.5 billion USD one year later. The figure reached 7.3 billion USD in 2022.

Vietnam remained Chongqing's largest trading partner in ASEAN for three consecutive years, accounting for 40% of the Chongqing-ASEAN trade turnover./.