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| Chinese officials at a meeting in HCMC on Friday to discuss trade ties - Photo: Thu Nguyet |
“The free trade area between ASEAN and China has officially been created. Chinese businesses are discovering more and more opportunities to co-operate with Vietnam,” said Deputy Secretary-General of China-ASEAN Business Council Xu Ningning.
“In the first eight months of this year, about 40 conferences have been held in China to help Chinese enterprises go into the ASEAN free trade area… All Chinese enterprises joining the conferences showed keen interest in Vietnam and wanted to invest into the country,” he added.
He explained that as Vietnam and other ASEAN countries had set up a free trade area with almost all goods traded tax-free tax, while Chinese products exported to these markets now did not enjoy such incentives, so “Chinese enterprises consider Vietnam as a gateway to other markets.”
Xu said he is encouraging Chinese enterprises to heighten cooperation with Vietnamese partners via joint ventures, adding Vietnamese businesses should also make the most of the ASEAN-China FTA to boost trade to China.
Xu and leaders of Zhuhai, a city on the southern coast of Guangdong Province, together with 35 enterprises in the city had a meeting with HCMC businesses last Friday to enhance trade ties.
According to Chen Hong Hui, vice mayor of the city, Chinese companies want to boost export of equipment, electric devices, textile and garment and household devices to Vietnam. Meanwhile, they want to buy more farm products and natural minerals from the country.
Data provided by Chinese officials at the meeting show two-way trade between Vietnam and China has increased 6.5 times in the period of 2001-2009. The two-way trade increased 46.3% year-on-year to US$17.8 billion in the January-August period, and is expected to hit US$25 billion this year.
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