70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Industry
Vietnam signs 12 trade cooperation agreements with Chinese province
Thanh Thanh 17:09, 2024/03/14
Strengthening economic and trade cooperation is crucial to advancing China-Vietnam comprehensive strategic cooperation.

Twelve agreements on trade and investment cooperation were signed between enterprises from Vietnam and China's Shandong Province at the Vietnam-China Trade, Investment and Connectivity Promotion Conference in Hanoi on March 13.

 The signing ceremony. Photo: VNA

The agreements are expected to open up opportunities for exchanges and cooperation to promote the official export of Vietnam's agricultural and aquatic and other competitive products to the Chinese province, as China has officially opened its doors to a variety of Vietnam's leading agricultural and aquatic exports.

At the conference, Vu Ba Phu, director general of the Vietnam Trade Promotion Agency, suggested that the provincial government help businesses from both sides to strengthen investment cooperation and exchange experience in developing the processing industries of farm produce, textiles, energy, electric vehicles, mechanics and electronics, where Shandong has advantages. 

He added that this would help enhance Vietnam's capacity and create favorable conditions for Vietnamese enterprises to promote and build their brands in the Chinese market, especially in large distribution systems in the Chinese locality.

"The Vietnamese Ministry of Industry and Trade is willing to work with relevant authorities in China and Shandong Province to effectively bridge the two business communities to carry out future cooperation activities," he stressed.

Song Junji, Vice-Governor of the Shandong Provincial People's Government, said that the two countries were important economic and trade partners, with close proximity and complementary industries, as well as significant potential for cooperation. 

He emphasized that strengthening economic and trade cooperation is crucial to deepening and enhancing China-Vietnam comprehensive strategic cooperation.

According to the Ministry of Industry and Trade, the trade turnover between Shandong Province and Vietnam reached US$10.9 billion in 2023. The province ranks 8th among Chinese provinces and cities in terms of trade with Vietnam, accounting for about 4.8% of the total Vietnam-China trade turnover.

RELATED NEWS
TAG: Vietnam news Vietnam agriculture Vietnam China Vietnam exports
Other news
11:02, 2024/07/13
Mobile Money users in Vietnam surpass 8.8 million
After the initial pilot phase, the Government issued Resolution No. 192 to extend the trial of the Mobile Money service until December 31, 2024.
16:14, 2024/07/12
Hanoi to host dialogue on challenges of social housing and car parks
The city has opened 72 public car parks, but this is well below the planned total of 1,620.
15:04, 2024/07/12
NIC and Google launch initiative to accelerate AI adoption in Vietnam
This strategic initiative highlights the tech giant's dedication to assisting Vietnam's digital transformation and is in direct line with the country's National AI Strategy to 2030.
14:49, 2024/07/09
Len Men project celebrates vibrant culinary heritage of Hanoi and northern Vietnam
The project is expected to inspire the next generation of Vietnamese food enthusiasts and establish Vietnamese gastronomy as a global culinary phenomenon.
11:58, 2024/07/09
US support for approval of direct power purchase agreement in Vietnam
The US-support mechanism allows consumers to purchase electricity directly from a generation company rather than through a local power utility, facilitating long-term planning and providing price certainty.
16:49, 2024/07/07
Promising second half 2024 outlook for Vietnamese real estate
Expectations are high following the approval by the National Assembly of the Real Estate Business Law, the Housing Law, and the Land Law, which will soon enter into force.