Vietnam – Promoting a more optimized bilateral trade structure
At present, the trade and investment momentum between China and Vietnam is improving, the trade imbalance is gradually improving, and the trade structure is more optimized. Vietnam is expected to take advantage of the first China International Import Expo to increase exports of its superior products to China. According to the Economic and Commercial Office of the Chinese Embassy in Vietnam, during the Expo, Vietnam set up a 256-square-meter national exhibition booth, a 209-square-meter agricultural area and a 36-square-meter service trade area. As the host country, Vietnam will fully demonstrate its economic and social development achievements at this Expo.
In recent years, thanks to the joint efforts of high-level and relevant departments of China and Vietnam, specialty products such as coffee, dragon fruit and rambutan originating in Vietnam have appeared more and more in the Chinese market. Vietnam has also brought a number of advantageous products to participate in the promotion, and more Vietnamese products are expected to appear in the list of Chinese consumers in the future. The 22 Vietnamese companies that participated in the exhibition include the leading enterprises in Vietnam such as Zhongyuan Group and Vietnam Dairy Co., Ltd., and their products such as G7 coffee and various dairy products have already been very popular in China.
During the Expo, Vietnam plans to jointly organize the ”China-Vietnam Economic and Trade Matchmaking Meeting” with the Chinese side, and invites 25 Vietnamese entrepreneurs to work with Chinese companies to promote cooperation in agricultural products, aquatic products and consumer goods. Wu Bofu, director of the Vietnam Trade Promotion Bureau, believes that the company will encourage Vietnamese companies to actively expand the Chinese and international markets to further promote the stable development of Vietnam-China trade. Vietnamese exhibitors have said that they will make full use of the opportunities of the Expo to enter the Chinese market and look forward to seeing more of their own products in the Chinese market.
The exhibits in Vietnam are still mainly agricultural products and processed foods. In recent years, with the continuous deepening of China-Vietnam economic and trade as well as Vietnam’s own economic development, Sino-Vietnamese trade has become more balanced, and Vietnam’s trade structure with China is also changing. At present, Vietnam’s exports to China are gradually shifting from low value-added products such as traditional agricultural and sideline products, primary manufactured products and mineral resources to high value-added products such as electronic products and various spare parts.