Conference promotes trade cooperation between Vietnamese and China’s Yunnan enterprises

The event held on November 21, saw the participation of 260 delegates from management agencies and business associations, from both Vietnam and Chinese Yunnan province, in addition to 58 domestic enterprises and 60 Chinese enterprises.

At the conference, delegates from both sides discussed difficulties in import and export activities over the past time, as well as proposed solutions to remove difficulties and promote goods trading between Lao Cai and Yunnan, and between the two countries.

According to the Department of Industry and Trade of Lao Cai province, due to China’s zero Covid policy, import and export activities at northern border gates, especially through Yunnan province were strongly affected. Goods were cleared slowly while customs clearance costs increased in the first ten months of this year, leading to a 40.5% decrease in import and export value through Lao Cai border gates, compared to the same period in 2021.

Lao Cai is now focusing on modernising customs operations, improving service quality, and promoting information technology applications, towards building digital international border gates in support of customs clearance. The import and export value of goods through border gates in Lao Cai province is expected to reach 10 billion USD by 2025.

At the event, Vietnamese and Chinese enterprises in the areas of supply, logistics, import and export, had a chance to meet and exchange cooperation opportunities.

China was Vietnam’s second-largest export market during the first five months of 2022, accounting for 14.3% of Vietnam’s total export turnover, an increase of 8.2% compared to the same period in 2021.