Việt Nam-Shandong investment and trade promotion conference opens

A conference on trade and investment promotion and economic cooperation between Việt Nam-Shandong (China) opened in Hà Nội on June 1.

The conference was co-chaired by Hoàng Minh Chiến, deputy director of the Ministry of Industry and Trade's Trade Promotion Agency, and Lin Yuan, vice chairman of China Council for the Promotion of International Trade Shandong Sub-Council.

The conference witnessed the signing ceremony of seven cooperation agreements between Vietnamese enterprises and Shandong enterprises.

At this conference, Vietnamese businesses and Shandong's businesses had the opportunity to promote cooperation in official export of Vietnamese agricultural and aquatic products to China in the context of that China has removed Covid-19 pandemic prevention measures since January 8, 2023, creating favourable conditions for Việt Nam's export activities to China.

The conference attracted more than 200 associations, production and import-export companies in many different fields of Việt Nam and China.

During the conference, representatives of the Trade Promotion Agency and the China Council for the Promotion of International Trade (CCPIT)'s Shandong Sub-Council introduced investment and trade opportunities for Vietnamese and Chinese businesses.

In order to promote stable and sustainable development of economic and trade cooperation between Việt Nam and Shandong Province, Chiến proposed the two sides to encourage the businesses to attend large and prestigious fairs and exhibitions of Việt Nam and Shandong, such as Việt Nam International Trade Fair (Vietnam Expo), Việt Nam International Food Industry Exhibition (Vietnam Foodexpo). Those events are expected to help the businesses introduce their products, brands and organise trade connection activities.

Shandong should create favourable conditions for Vietnamese enterprises to promote the export of agricultural and aquatic products to China through official channels, especially agricultural products such as durian, purple sweet potato, bird nest that China has officially opened for them since 2022, Chiến said.

Meanwhile, the Trade Promotion Agency will coordinate with the CCPIT's Shandong Sub-Council and localities of Việt Nam to create favourable conditions for businesses of Shandong Province to have long-term trade connection and cooperation with Vietnamese businesses.

The highlight of the conference was a Việt Nam-Shandong trade connection programme with the participation of more than 200 businesses in many fields, such as agricultural products - food, machinery equipment, rubber tires - auto parts, construction - building materials and other industries.

In the first three months of 2023, the trade value between Shandong and Việt Nam reached US$2.67 billion, up 1.63 per cent over the same period in 2022. Of which, Shandong's exports to Việt Nam reached US$2 billion, up 7.9 per cent; and imports from Việt Nam reached $672.65 million, down 13.35 per cent, according to the Trade Promotion Agency.

Main export items from Shandong to Việt Nam included mechanical machinery and electrical equipment, industrial chemicals, base metals, textile products, plastic and rubber, stone and glass materials.

Key import products from Việt Nam to Shandong were timber and wood products, plastic and rubber, mechanical machinery and electrical equipment, vegetables, textile products, animals and made-from-animal products, industrial chemicals and mineral products.

Viet Nam News