Mr. Le Hoang Tai, Deputy Director of Trade Promotion Department, delivered the opening speech at the conference.
On April 3, the Trade Promotion Department of the Ministry of Industry and Trade coordinated with the Sichuan Trade Promotion Committee to organize the Vietnam-China (Sichuan) Trade, Investment and Economic Cooperation Promotion Conference. Around 120 companies, production and import-export groups from many sectors took part.
Mr. Le Hoang Tai, deputy director of the Department of Trade Promotion, said that despite the negative impact of Covid-19, the total import-export turnover between Vietnam and China will reach about US$175.6 billion in 2022, increasing by more than 5% will rise. In the same period. China remains Vietnam’s largest trading partner and largest import market.
Among 22 provinces and 4 cities directly under the central government of China, Sichuan is the largest market for Vietnam. According to Mr Tai, this is partly because stakeholders have taken full advantage of the RCEP agreement, the intermodal railway. Many large companies in Sichuan have studied and sought investment opportunities in Vietnam.
In 2022, the import-export turnover between Vietnam and Sichuan will reach around US$11.3 billion, down more than 20% from 2021, accounting for 7.4% of Sichuan province’s total turnover. The deputy director of the Department of Trade Promotion said, “Sichuan sales are only a modest proportion of Vietnam-China total sales and do not live up to potential.”
In early 2023, Vietnam-China trade activity is recovering after 3 years of being impacted by Covid-19. On this occasion, the Sichuan Trade Promotion Committee organized a delegation of more than 50 companies to visit Vietnam and seek cooperation opportunities.
Ms. Hoang Le, Chairwoman of Sichuan Trade Promotion Committee, highly appreciated the potential and space of cooperation with Vietnam.
Hoang Le, chairwoman of the Sichuan Trade Promotion Commission, said the meeting on April 3 is an opportunity for both sides to realize their economic goals and open a new chapter and phase for both sides: Vietnam-China trade cooperation.
Sichuan is the center of western China, whose capital is Chengdu – one of China’s most important transport and trade centers. Occupying an important position in the Chengdu-Chongqing Economic Belt, the province has pioneered reform and opening-up, contributed to connecting Northeast and Southwest China, and served as a bridge between China and ASEAN.
In 2022, Sichuan has a population of 84 million, the fourth largest population in Chinese cities and provinces; China ranks sixth in terms of economy with GDP of more than USD 820 billion in 2022, an increase of 2.9% and GDP per capita of USD 10,072. The province’s foreign trade volume in 2022 will reach US$151.1 billion.
According to Ms. Hoang Le, Vietnam is Sichuan Province’s largest trading partner among ASEAN countries. Therefore, in recent years, Sichuan has always been included in the strategic planning for the development of China’s major regional links, such as B. the new international land-sea transport route; Truong Giang River Economic Belt; Railway China-Europe…
“More than 2000 years ago, the Silk Road began in Sichuan and brought tea, ceramics and many other products to the world. Hopefully Sichuan will become a bridge for China’s trade, and at the same time, the brand ‘Made in Sichuan’ will be widely known,” Ms. Hoang shared.
Many products such as Sichuan hot pot are well known to Vietnamese.
After China’s 20th Party Congress, Sichuan issued many plans and synchronous solutions to speed up development. The province is currently an exciting investment destination in western China, with the direction of economic development linked to the exploitation of indigenous values in culture and tourism, such as Jiuzhaigou scenic area, the famous To Dong Pha. or the famous panda image.
“Sichuan is always the same and looks forward to expanding cooperation south, including Vietnam. Your country has great commercial potential with us. After today’s conference, we can set up more convenient and direct diplomatic channels for companies of the two countries,” he told Ms. Hoang Le.
At the conference, representatives of the Trade Promotion Bureau and the Sichuan Trade Promotion Commission presented opportunities and potentials of trade and investment cooperation in industry and commerce. In addition, attendees witnessed the signing ceremony of three cooperation agreements between companies from the two countries, laying the foundation for promoting Vietnam-China economic, trade and investment ties.
Earlier, on April 18, 2022, China opened the first freight train from Chengdu to Hanoi, named “Song Luu”. This is a model of international air rail transport. The opening of the train will further improve western China’s air, sea and land transport network and help Chinese companies make the most of opportunities to connect with ASEAN.
Also in 2022, on June 11, the ASEAN-Vietnam-Sichuan high-speed cross-border road transport route was opened to traffic in both directions. Then, on September 29, China continued to launch a direct transport train from Chengdu to Dong Dang Railway Station, Lang Son, opening a new, safe and fast international logistics channel.
The first shipment was shipped from Sichuan, passed through the ports of Dongxing, Pingxiang, and arrived in Hanoi after 6 days.