Sino– Vietnam trade enters dynamic phase

26 Apr '06

2 min read

In recent years, healthy relations have developed between Viet Nam and China along with political ties, economic and trade cooperation.

Speaking on Sino-Vietnam cooperation in economics and trade, Do Nhu Dinh, Vietnamese Deputy Trade Minister said trade turn-over between the two countries in 2005 reached 8.73 billion USD; an increase of 21.5 percent compared with 2004.

Wen Jiabao, Chinese Premier and Phan Van Khai, Vietnamese Prime Minister had jointly aimed a target of US $5 billion for 2005 which has been actually exceeded.

By the year 2010, with the present growth thrust, the two sides are likely to congregate the trade turn-over target of $10 billion.

Deputy Trade Minister said, Economists have forecast trade target to exceed as early as 2006 or 2007.

As per experts, fresh vigorous developments in economic cooperation between the two countries were due to improvements in the two countries trade and investment environment as well as management policies, which have created favorable conditions for import-export activities.

The Vietnamese Government have been paying adequate attention on boosting trade promotion activities and creating favorable conditions for enterprises of the two countries to do business and exchange goods.

A number of Vietnamese goods have enjoyed privileged import duty rates approved by the China.

Investment activity between the two sides has incessantly widened and deepens.

The Vietnamese side is positively implementing activities under the ASEAN + China and the Mekong Sub-region cooperation frameworks.

Both the countries are carrying out a project expected to create new opportunities in trade and investment between the two countries in general and between Guangxi, Yunnan, Guangdong and Hainan with Viet Nam's northern cities and provinces, in particular.

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