Localities are required to effectively implement the Government-approved Mainstream Export Project initiated by the Ministry of Industry and Trade, as emphasized by Mr. Nguyen Hong Dien. On December 9th, the Ministry organized a conference aimed at fostering economic and trade collaboration between northern border provinces and China.
Mr. Tran Quang Huy, Head of the Asia-Africa Market Department, revealed that, according to Vietnam Customs data, the Vietnam-China import-export turnover for 2022 reached USD 175.56 billion, marking a 5.47% increase from 2021. Specifically, exports to China totaled USD 57.7 billion, a 3.18% increase, while imports from China amounted to USD 117.8 billion, representing a 6.63% increase. The trade surplus reached USD 60.1 billion, a 10.18% increase. China continues to be Vietnam's primary trading partner, the largest import market, and the second-largest export market after the United States. Notably, in the first 10 months of 2023, Vietnam-China import-export turnover reached USD 138.9 billion. During this period, exports to China amounted to USD 49.5 billion, constituting 17% of Vietnam's total export value, reflecting a 5.13% increase. Imports from China reached USD 89.3 billion, comprising 33.4% of Vietnam's total import value.
In terms of commodities, Vietnam exports to China include mobile phones, components, electronic equipment, rubber, agricultural and aquatic products, while imports from China comprise machinery, equipment, raw materials for the textile and garment industry, leather and footwear, iron and steel, construction materials, and everyday consumer goods.
The report from the Asia-Africa Market Department also indicates that, post-pandemic, the economic and trade situation between the northern border provinces and China has shown positive signs with noteworthy results. However, despite the advantages, there are still difficulties and shortcomings in trade activities between the northern provinces and China. Localities are urged to effectively implement the Mainstream Export Project.
Minister Nguyen Hong Dien proposes that ministries, sectors, and localities continue to fully implement the comprehensive and effective cooperation directions set by the leaders of both countries, especially in the economic, trade, investment, and border economic and trade areas. "We need to recognize China as a major economy, a large consumer market, and the primary supplier of raw materials for Vietnam's manufacturing sector for export," emphasized the Minister of Industry and Trade.
Leaders of the Ministry of Industry and Trade suggest that provinces and cities nationwide, especially border provinces, promptly review and adjust the planning of cultivation and breeding areas and reorganize production and processing according to the Mainstream Export Project. The Minister emphasizes the need for the effective implementation of the project approved by the Ministry of Industry and Trade and the government. Additionally, there is a call to intensify the establishment of geographical indications, collective trademarks, and focus on coordinating trade promotion activities to enhance cooperation opportunities for businesses in the border region.
For the Ministry of Agriculture and Rural Development, it is recommended to enhance negotiations with partners to promptly sign a memorandum on plant quarantine for Vietnam's competitive agricultural products and negotiate new codes for the import of Vietnam's strong agricultural products.
Regarding the Ministry of Finance, particularly the General Department of Customs, collaboration with border provinces to implement the construction and application of smart border gates and the application of technology in managing customs activities is encouraged. This aims to enhance the capacity for cross-border trade and fulfill its functions according to legal provisions to facilitate trade in this region.
Minister Dien also suggests that the Ministry of Foreign Affairs coordinate efforts to open and upgrade new border gates and establish new trade promotion offices in key areas of China.
