The fair is organised by the Trade Promotion Agency under the Vietnamese Ministry of Industry and Trade (MoIT), the Lao Cai Provincial People’s Committee, the China Council for the Promotion of International Trade in Yunnan.|
The event aims to promote socio-economic exchange between Lao Cai and Yunnan provinces, helping to foster trade linkages, connect local markets of Vietnam with those in Yunnan, thus promoting import and export activities through the Lao Cai border gate, solving difficulties facing businesses from both sides in the context of complicated developments of the COVID-19 pandemic.
Products of 80 enterprises and cooperatives inside and outside Lao Cai are being introduced via digital platforms at 28 booths in the Kim Thanh Exhibition and Convention Centre.
In his opening remarks, Vice Chairman of the Lao Cai Provincial People’s Committee Hoang Quoc Khanh emphasised that despite adverse impacts from the COVID-19 pandemic, economic and trade cooperation between Lao Cai and Yunnan in 2020 has been maintained and developed stably.
Border management agencies of the two sides have effectively coordinated together in facilitating import and export customs clearance activities, and supporting their businesses, Khanh said.
He expressed his hope that the trade fair will help further promote investment, trade and tourism cooperation between the two localities in particular, and between localities of the two countries in general, contributing to the enhancement of understanding and cooperation between the business communities and people of the two countries, as well as promoting two-way trade between Vietnam and China.
A conference was arranged right after the opening ceremony of the fair to introduce investment attraction mechanisms and policies and projects calling for investment in Lao Cai and Yunnan.
At the conference, organisations and enterprises of the two sides signed 18 pairs of economic contracts totalling US$758.9 million on import and export of non-ferrous metals, fertilisers, chemicals, agricultural products, and aquatic products.
