As a result of the discussion, both sides have set up a working group to ensure quick resolution of problems that may crop up at the Kim Thanh Road and other border gates, and for continuation of import and export activities in a smooth manner. They have also agreed to host a range of trade promotion activities, including trade fairs, and facilitate customs clearance through Ho Kieu railway border gate to avoid congestion.

In view of the upcoming Lunar New Year on February 1, border gates on either side will continue to facilitate customs clearance and modify various types of fees and payments that are to be made for cross-border trade, in order to create favourable conditions for their respective enterprises.

Total turnover (import and export) through border gates in Lao Cai since the beginning of 2021 has increased by 15.5 per cent year-on-year, according to Lao Cai Economic Zone Authority.

The conference to discuss trade promotion was attended by agencies of Lao Cai and 14 other provinces and cities of Vietnam, and nearly 100 businesses from several Chinese provinces and cities, including Beijing, Shanghai, Tianjin, Yunnan and Zhejiang. This enabled Vietnamese suppliers, exporters and logistics businesses to meet representatives of Chinese companies, in a bid to boost trade and commercial cooperation between the two sides.

Fabrics, textiles and components for the textile and garment sector are among the major items imported by Vietnam from China’s Zhejiang. Vietnam also exports textiles and other products to China.

Goods transportation by road, railway and air between Zhejiang and Vietnam is very convenient, and it takes only one to two days for delivery between the two sides. The two-way trade between Zhejiang and Vietnam surpassed $8.11 billion in 2020, according to data from Vietnam’s General Department of Customs.

Fibre2Fashion News Desk (RKS)