May 23, 2023 | 07:00:00 GMT+7 | Weather 19°
Follow us:
70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Nov 04, 2018 / 16:37

Vietnam wants more balanced trade with China: PM Phuc tells President Xi

Vietnam hopes to cooperate with China to enhance economic cooperation and sustainable trade.

Vietnam wants China to open wider its doors to Vietnamese products and take concrete steps to help narrow down the former's trade deficit with the latter to ensure sustainable bilateral trade ties, Prime Minister Nguyen Xuan Phuc told Chinese President Xi Jinping at a meeting on November 4.

PM Phuc is in Shanghai to attend the first International Import Expo of China (CIIE 2018) at the invitation of Chinese President Xi.
 
PM Nguyen Xuan Phuc arrives in Shanghai to attend CIIE 2018. Photo: Quang Hieu
PM Nguyen Xuan Phuc arrives in Shanghai to attend CIIE 2018. Photo: Quang Hieu
Vietnam welcomes Chinese investments in Vietnam with advanced technologies, PM Phuc noted.

Vietnam always gives importance to the friendly, sustainable and healthy relationship with China and considers the neighboring country among the top priorities in its foreign policy, PM Phuc said. The view was also shared by President Xi.

For his part, President Xi noted that China does not pursue maintaining a trade surplus with Vietnam, adding that his country will increase imports from the latter to help balance bilateral trade.

As the role of gateway to the Association of Southeast Asian Nations (ASEAN), during the implementation of the ASEAN-China Free Trade Area, Vietnam is the bridge between the ASEAN Economic Community and China.

CIIE 2018 is an important trade, investment and tourism promotion event that will strengthen links with regional countries and maximize the benefits generated by ASEAN-China Free Trade Area. 

Besides, the event also helps increase the export of Vietnamese goods and services to China and other ASEAN countries along with the shipment of ASEAN goods to China via Vietnam's border gates.

CIIE 2018 is also an occasion to promote Vietnamese enterprises’ image to China and other countries in the world, to attract foreign investment and create favorable conditions for Vietnamese enterprises to seek markets and expand business activities.

Vietnam is one of the 12 countries honored at the first fair (Asia has three countries selected, namely Vietnam, Indonesia and Pakistan) in more than 130 countries and territories present at CIIE 2018.

China remains Vietnam's largest trade partner and source of foreign tourists of the Southeast Asian nation.

Trade between Vietnam and China reached US76.07 billion in the first three quarters this year, of which the former incurred a trade deficit of US$18.45 billion, according to Vietnam's customs data.