A conference on Sino-Vietnamese trade ties was organised in Hanoi on April 25 by the China Council for the Promotion of International Trade and Vietnam Chamber of Commerce and Industry in Zhejiang. The event was designed to provide opportunities Chinese firms from Zhejiang and businesses from Vietnam to meet and look for business opportunities.
According to statistics, total trade between China and Vietnam in the first three months reached $19 billion US dollars, an increase of 27.5% compared to 2016.
Total bilateral exports achieved 6.2 billion US dollars, increased 47.7%. Meanwhile, China imports reached 12.7 billion US dollars, an increase of 19.5%. From the figure, we can see that exports from Vietnam to China have increased while imports from China have decreased. This is also the first time the trade deficit with China has decreased significantly over the 13 years.
At the conference, both Vietnamese and Chinese firms had the chance to discuss and look for opportunity to co-operate. This is also the first time these Chinese firms come to Vietnam, looking for business co-operation in stationery, home appliances, crafts, stone sculpture.
China had been the biggest trade partner of Vietnam and the country's top export market for 11 consecutive years. By the end of March 2017, China was ranked 8th among foreign investors in Vietnam with 1,615 projects worth US$11.1 billion.
