Over 200 local and Chinese businesses seek greater trade co-operation
Approximately 140 Vietnamese firms and over 100 Chinese partners participated in a virtual conference held on November 19 to increase bilateral trade promotion.
Participants at the event jointly held Lao Cai province of Vietnam and Zhejiang province of China informed each other about the two sides’ trade policies and opportunities to connect suppliers and exporters, and boost trade promotion through e-commerce floors.
The online conference also gave enterprises in Lao Cai and other northern localities to meet, exchange, and co-operate with import-export and logistics enterprises in both Zhejiang province and neighbouring Chinese localities.
Zhejiang province is located roughly 3,000 km from Lao Cai’s border gate. The highway and high-speed rail transport system which connects Lao Cai to Zhejiang typically carries goods within one or two days.
According to the General Department of Vietnam Customs, two-way trade value between Vietnamese localities and Zhejiang reached over US$8 billion in 2020, of which Zhejiang’s imports stood at over US$2 billion.
Vietnamese localities mainly export textiles, iron and steel, natural rubber, plastic beads, clinker, and limestone to the Chinese province.
