Vietnam - China import and export is about to reach 140 billion USD

Vietnam - China import and export is about to reach 140 billion USD after 10 months. China is also the only market in which Vietnam has growing export turnover.

According to information from the Ministry of Industry and Trade, in the past 10 months, China has been our country's second largest export market with an estimated turnover of 49.5 billion USD, an increase of 5%. This increase is a bright spot in the country's exports in the context of exports to most major markets decreasing.

On the contrary, China is still Vietnam's largest import market with an estimated turnover of 89.7 billion USD, down over 10% over the same period last year. Thus, the two-way import-export turnover between Vietnam and China is estimated to reach more than 139 billion USD after 10 months of this year.

 Vietnam - China import and export is about to reach 140 billion USD. Illustration.

Recently, the Ministry of Industry and Trade has promoted trade promotion solutions to the Chinese market. Recently, the Ministry of Industry and Trade organized a conference to promote trade, investment and trade connection between Vietnam and China (Chongqing). This is a large market but the trade turnover between Vietnam and Chongqing only accounts for a low proportion (3%) of the total trade turnover of the two countries.

Besides, in the near future, the Ministry of Industry and Trade (Trade Promotion Department) will coordinate with the People's Committee of Lao Cai province to organize the 23rd Vietnam - China (Lao Cai) International Trade Fair in 2023 in 6 days ( November 10 - 15), at Kim Thanh Exhibition and Convention Center , Duyen Hai ward, Lao Cai city, Lao Cai province.

In addition, recently, the Prime Minister signed Decision No. 1199/QD-TTg dated October 14, 2023 approving the planning of border gates on the Vietnam - China land border in the period 2021 - 2030 with a vision to 2050. Border gate planning on the Vietnam - China land border includes the following provinces: Quang Ninh, Lang Son, Cao Bang, Ha Giang, Lao Cai, Lai Chau, Dien Bien.

According to the Plan, by 2030, the Vietnam - China border line will have 26 border gates, including 14 international border gates, 12 bilateral border gates (including 20 customs clearance/specialized roads for transporting goods). belonging to pairs of international border gates, bilateral border gates) and 1 special opening/border gate.

The opening and upgrading of international border gates, bilateral border gates, customs clearance... aims to contribute to increasing the import-export turnover of goods between Vietnam and China.

According to vtv.vn