Vietnam surpasses Malaysia to become China's top trade partner in ASEAN
The Chinese Embassy in Vietnam held a press conference on the economic-trade ties between Vietnam and China on July 26.
The monthly average trade revenue between Vietnam and China for the first time exceeded US$10 billion in April this year, said Trade Counsellor of the Chinese Embassy in Vietnam Hu Suojin at the press conference held by the embassy on Thursday.In June, the figure hit US$11.2 billion, enabling Vietnam to surpass Malaysia (US$9.3 billion) to become China's biggest trade partner in the ASEAN bloc, the Chinese diplomat affirmed, adding trade between the two countries has thrived rapidly since the start of this year.
The press conference's overview. Photo: Cam Anh
|
During the first six months of 2018, total trade revenue between Vietnam and China reached US$66 billion, according to the Chinese government’s statistics, Hu Suojin said.
Growth rate of China’s exports to Vietnam during the period was estimated at 23.5%, the highest in ASEAN, putting Vietnam on the list of China's 10 largest export markets worldwide. On the other hand, the growth rate of Vietnam’s exports to the North Asian country hit 37.4%, taking the lead in the Southeast Asian bloc.
Trade Counsellor Hu Suojin also noted that both countries had vast potential to broaden and boost the bilateral trade. In the first half of 2018, the growth rate of bilateral trade reached 28.8% against last year.
Meanwhile, the high growth rate of Vietnam's exports to China has also eased the former’s trade deficit with the latter.
The goal of both Vietnam and China in broadening trade-economic relations is to optimize the benefits of their people, said the trade counsellor.
17:24, 2024/12/16
Australia is in favor of Vietnam's current course
While the challenges facing Vietnam may be significant, they are nothing compared to the challenges Vietnam has previously faced and overcome.
22:44, 2024/10/18
A wishful plan without feasibility
Because of its non-present feasibility, Zelensky victory plan would lead him to nowhere.
15:26, 2024/10/16
Cultivating inclusive and transformational change in agriculture
Vietnam is embracing inclusive and transformative change in agriculture to address these challenges.
16:28, 2024/09/28
Important, necessary, and encouraging
The Pact for the Future is therefore the right guideline in the right direction for the UN and its member nations.
23:42, 2024/09/19
US-Vietnam Comprehensive Strategic Partnership fuels all-compassing relations
The diplomat said the Comprehensive Strategic Partnership is a remarkable milestone that enables the two countries to work together for peace, security, and prosperity.
19:27, 2024/09/17
The weight of psychological messages
Never before had Russia and China conducted joint maritime drills as large as that and in so many oceans and seas in the world simultaneously.