Speaking at the conference, Director of the Agricultural Trade Promotion Centre under the Ministry of Agriculture and Rural Development Nguyen Minh Tien emphasise that the bilateral trade relationship between China and Vietnam is increasingly developing positively, with China continuing to be Vietnam's largest trade partner for many consecutive years.
Given the immense trade potential and the trend of international integration, the Agricultural Trade Promotion Centre has been working to connect reputable Vietnamese agricultural enterprises with major Chinese consumers.
Vietnam, as a developing economy with stable growth, plays an important role in the global value chain and is a member of multiple free trade agreements in the region and globally.
According to statistics, by the end of the third quarter of 2024, Vietnam's imports of goods from China reached 104.8 billion USD, up 32.2% over the same period last year (equivalent to an additional trade value of 25.53 billion USD).
Meanwhile, Vietnam's exports to China reached 44.4 billion USD, showing a slight increase of 2.94% compared to the same period last year (equivalent to an additional trade value of 1.27 billion USD).
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Notably, on August 19, the Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China signed three protocols on the export of frozen durian, fresh coconuts, and crocodiles from Vietnam to China. This demonstrates the diversification of Vietnam's agricultural, forestry, and fishery exports and continues to address obstacles in the export of these products to the Chinese market.
Tien also noted that under the guidance of the Ministry of Agriculture and Rural Development, the Agricultural Trade Promotion Centre and the Hong Kong-based Sunwah Group signed a Memorandum of Understanding (MoU) on June 23, 2023, to build and operate a Vietnamese agricultural products store on Chinese e-commerce and social media platforms. This aims to enhance the promotion and consumption of Vietnamese agricultural products, directly access the Chinese market, and boost the export of Vietnam’s strong agricultural and fishery products to China.
As a result, the trade exchange conference between Vietnamese and Chinese enterprises and the launching ceremony for the Vietnamese agricultural products store on Chinese e-commerce and social media platforms in Hanoi aimed to implement the spirit and content of the MoU between the Agricultural Trade Promotion Centre and Sunwah Group. It also contributed to assisting Vietnamese businesses in agriculture, forestry, fishery, and food sectors to explore new products, designs, and advanced technology equipment from China.
