 |
| Shi Zhongjun, Secretary-General of the ASEAN-China Centre. — VNA/VNS photo |
BEIJING – Chinese experts believe there is still plenty of room for Vietnam and China to cooperate in trade and investment.
Shi Zhongjun, Secretary-General of the ASEAN-China Center, said that China-Vietnam relations have developed rapidly in various fields in recent years under the strategic leadership of the leaders of both countries.
In 2023, China and Vietnam will establish a community of shared future of strategic importance, which will set a roadmap for the development of future bilateral relations.
Shi said that cooperation between the two countries has developed comprehensively, intensively and comprehensively in recent years. Especially in the fields of economy and trade, Vietnam is China’s largest trading partner among ASEAN countries. At present, many Chinese companies are planning to invest in Vietnam.
People-to-people exchanges in the fields of education, youth and tourism between the two countries are on the road to recovery and strong development.
Xu Ningning, Chairman of the Industrial Cooperation Committee of the Regional Comprehensive Economic Partnership (RCEP), Executive President of the China-ASEAN Business Council and Chief Expert on China-ASEAN Trade Cooperation, expressed the view that China-Vietnam economic and trade cooperation under the leadership of the two parties brings practical benefits to the people of both countries.
 |
| Xu Ningning, chairman of the Industrial Cooperation Committee of the Regional Comprehensive Economic Partnership (RCEP), executive president of the China-ASEAN Business Council and chief expert on China-ASEAN trade cooperation. — VNA/VNS photo |
Both sides effectively implement the agreements reached by the high-level politicians and governments of both countries and aim to further deepen their cooperation in all areas. Both Vietnam and China are committed to strengthening economic cooperation and development, thereby contributing to effectively harnessing the potential and strengths of both sides and the region, and helping them fully reap the benefits of the free trade agreements.
Xu said he believes there is still much room to promote two-way investment and trade. He added that Chinese companies are very optimistic about Vietnam’s economic development and new business opportunities.
He said he recently led a Chinese business delegation of about 150 members, about half of whom are chairmen and general managers of enterprises, to visit Vietnam. During the talks, enterprises from both countries expressed their desire to strengthen cooperation and carry out concrete contact and negotiation activities, which affirms the investment and business opportunities in Vietnam.
Xu said Chinese companies are willing to invest, develop and set up businesses in Vietnam. The Southeast Asian country also attracts Chinese companies with a range of preferential policies and favorable investment and business conditions.
The building of a strategic and comprehensive business community between China and Vietnam continues to inject new momentum into bilateral economic and trade cooperation, he said, explaining that the two countries’ investment cooperation has developed rapidly in recent years. Investment by Chinese companies in Vietnam will increase by more than 77 percent in 2023 compared to the previous year.
He believes that economic and trade cooperation between China and Vietnam will continue to develop effectively, intensively and substantially in the coming period.
Hu Suojin, former trade counselor of the Chinese Embassy in Vietnam, estimated that great progress has been made in China-Vietnam relations, especially in the areas of economy and trade.
 |
| Hu Suojin, former trade counselor of the Chinese Embassy in Vietnam. – VNA/VNS photo |
Hu, who has been covering Vietnam-related issues for 40 years and worked in Vietnam for 23 years, said economic, trade and investment cooperation between Vietnam and China have seen strong growth. Vietnam remains China’s largest trading partner in ASEAN and the fifth largest in the world.
At the same time, China is Vietnam’s largest trading partner, largest import market and second largest export market. Total bilateral trade turnover reached US$171.9 billion in 2023 and US$112.6 billion in the first seven months of 2024. China’s direct investment in Vietnam reached US$4.47 billion and US$1.52 billion respectively. – VNS
