Sign up | Log in



Home  >>   Daily News  >>   Vietnam  >>Trade  >> VN urged to tap China trade, investment
NEW UPDATES Asean Affairs  29 June 2015  

VN urged to tap China trade, investment

 China is expected to import more than $10 trillion in goods and services and invest $500 billion abroad in the next five years, offering opportunities for Viet Nam and other countries in the Asia-Pacific region.

Speaking at a seminar held yesterday in HCM City, Li Zhenmin, commercial and economic counselor at the Chinese Consulate General, urged Viet Nam to seek Chinese partners for long-term cooperation in trade and investment.

Viet Nam's trade deficit with China has ballooned in recent years, and now stands at $9.8 billion.

While Vietnamese officials have urged China to increase imports, Zhenmin said that China had opened its doors to Vietnamese exports.

Citing statistics from China's Customs department, he said China's import turnover from Viet Nam had recorded an average growth of 15-20 per cent per year in recent years, a relatively high rate.

For many years, China has been the largest buyer of agricultural exports from Viet Nam.

Viet Nam is the second largest trade partner of China in the ASEAN region.

This year, bilateral trade between the two countries is expected to reach $100 billion, Zhenmin said.

"To increase cooperation, a transnational e-commerce floor for the two countries should be established. We can take advantage of the internet to increase information transparency, which would create favourable conditions for the two countries' businesses," he said.

Chinese importers did not understand the Vietnamese market fully, he said, adding that Vietnamese businesses also encountered obstacles and should seek only competent and reliable Chinese importers.

Zhenmin advised Vietnamese businesses to increase export quality, avoid violations of intellectual property rights, and refuse to make or buy counterfeit products.

Nguyen The Hung, deputy director of the HCM City branch of the Viet Nam Chamber of Commerce and Industry, said bilateral relations between Viet Nam and China had shown impressive growth but there was still unexploited potential.

Last year, the total export-import turnover of the two countries reached $58.7 billion, an increase of 16.5 per cent compared to the same period last year.

Viet Nam's exports in 2014 totalled $14.9 billion, up 11.8 per cent. Imports were $43.8 billion, an increase of 18.2 per cent.

In the first five months of this year, Vietnamese exports to China reached US$6.1 billion, a decrease of 1.2 per cent over the same period last year.

Viet Nam's imports totalled $15.9 billion, an increase of 19.1 per cent in the first five months.

Viet Nam's main exports to China are crude oil, telephones and parts, rubber, rice, fruit, vegetables and seafood, while it imported machinery, equipment, steel and fertiliser from China.

Last year, China had the largest number of tourists to Viet Nam (1.9 million), an increase of 2.1 per cent over 2013.

In the first five months, the number of Chinese tourists to Viet Nam reached 700,000.

China had a total of 1,112 projects with total registered capital of $8 billion by March this year, ranking ninth among 100 countries and territories investing in Viet Nam.

China had 99 investment projects in Viet Nam with total investment capital of $253 million in 2014. — VNS

Reach Southeast Asia!
10- Nations, 560- Million Consumers
And $1 -Trillion Market
We are the Voice of Southeast Asia Media Kit
The only Media Dedicated to Southeast Asia Advertising Rates for Magazine
Online Ad Rates

Comment on this Article. Send them to

Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below

Today's  Stories                           June  29 , 2015 Subsribe Now !
• VN urged to tap China trade, investment  Subcribe: Asean Affairs Global Magazine
• Panorama to strengthen grip on hospitality industry
• Grassroots leaders, volunteers to get MERS, haze preventive measures training
Research Reports
on Thailand 2007-2008

• Textiles and Garments Industry
• Coffee industry
• Leather and footwear industry
• Shrimp industry

• Reforms making an impact
• Thai United Power aims to boost electricity capacity in Dawei 
Asean Analysis                   June 26, 2015
• Asean Analysis June 26, 2015
U.S. Companies Engage Myanmar on Reforms, Capacity and Infrastructure
Advertise Your Brand

Asean Stock Watch  June 26,   2015
• Asean Stock Watch-June  26, 2015
The Biweekly Update
• The Biweekly Update June 26, 2015

ASEAN NEWS UPDATES      Updated: 04 January 2011

 • Women Shariah scholars see gender gap closing
• Bank Indonesia may hold key rate as inflation hits 7 percent
• Bursa Malaysia to revamp business rules
• Private property prices hit new high in Singapore • Bangkok moves on mass transport
• Thai retailers are upbeat
• Rice exports likely to decline • Vietnamese PM projects 10-year socioeconomic plan


This year in Thailand-what next?

AseanAffairs   04 January 2011
By David Swartzentruber      

It is commonplace in journalism to write two types of articles at the transition point between the year that has passed and the New Year. As this writer qualifies as an “old hand” in observing Thailand with a track record dating back 14 years, it is time take a shot at what may unfold in Thailand in 2011.

The first issue that can’t be answered is the health of Thailand’s beloved King Bhumibol, who is now 83 years old. He is the world's longest reigning monarch, but elaborate birthday celebrations in December failed to mask concern over his health. More






1.  Verifier

1. Verifier

For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code

Home | About Us | Contact Us | Special Feature | Features | News | Magazine | Events | TV | Press Release | Advertise With us

Our Products | Work with us | Terms of Use | Site Map | Privacy Policy | Refund Policy | Shipping/Delivery Policy | DISCLAIMER |

Version 5.0
Copyright © 2007-2015 TIME INTERNATIONAL MANAGEMENT ENTERPRISES CO., LTD. All rights reserved.
Bangkok, Thailand