PM’s CIIE attendance holds economic, political significance: Deputy FM
Updated : Wednesday, November 07, 2018 11:18 AM (GMT+0700)

Prime Minister Nguyen Xuan Phuc’strip to China to attend the first China International Import Expo (CIIE) willhelp enhance Vietnam-China relations and drive economic and trade ties betweenthe two countries forward, Deputy Foreign Minister Le Hoai Trung has said. 

 
Prime Minister Nguyen Xuan Phuc (left) and Chinese Party General Secretary and President
Xi Jinping at the opening ceremony of the expo - Photo: VNA

He made the statement following the PM’s tour from November 4-5for one of China’s most important diplomatic events in 2018, through which thecountry wants to extend its message of open markets to the world. 

While in China, PM Phuc met with party and state leaders andofficials of ministries, agencies and localities of China to talk aboutVietnam’s priorities in development and international integration, as well ascooperation between the two countries, Trung said. 

The host country is the world’s second biggest economy and thebiggest manufacturer and exporter, he said, adding it is also the leading tradepartner of 128 countries and contributes about 30 percent to global GDP. 

China is now Vietnam’s biggest trade partner while Vietnam is China’slargest trade partner in the Association of Southeast Asian Nations (ASEAN) andthe eighth largest worldwide. 

In 2017, two-way trade reached 93.7 billion USD, up 30.2 percentyear-on-year, making up about a quarter of Vietnam’s total export-import value. 

China is the biggest importer of Vietnam’s farm produce andseafood, he said, citing Vietnam’s agro-forestry-fishery export revenue toChina at 29.6 billion USD in the first nine months of this year, a year-on-yearrise of 10 percent. 

However, the deputy minister stressed, there remain limitations inbilateral economic and trade ties, such as Vietnam’s high trade deficit at 22.8billion USD in 2017, along with smuggling, tax evasion and low-qualityproducts. 

Given this, the PM’s trip aims to take advantage of China’seconomic potential and big market, boost exports to the country, improve theefficiency of economic and trade collaboration and reduce the tradedeficit. 

Additionally, it is expected to help attract internationalinvestment and promote Vietnam’s economy, investment and tourism, Trungnoted. 

Apart from economic significance, the tour has contributed toenhancing political trust and friendship between Vietnam and China. 

During the event, leaders of the two countries discussed plans tostep up bilateral cooperation across fields, the deputy minister said.  

At the meeting with Mayor of Shanghai Ying Yong, Prime MinisterNguyen Xuan Phuc suggested the city expand its cooperation with Vietnameseministries, sectors and localities. 

For his part, Ying Yong stated that Shanghai attaches importanceto boosting collaboration with Vietnam, and to working with Vietnameseministries, sectors and localities in implementing deals reached byhigh-ranking leaders.

He stressed the necessity of increasing delegation exchanges andreinforcing joint work to boost the Vietnam – China comprehensive strategiccooperative partnership.

The trip has generated a driving force for cooperation between thetwo countries, particularly in economy and trade.

General Secretary of the Communist Party of China CentralCommittee and State President Xi Jinping agreed with PM Phuc’s proposals andaffirmed China will devise policies and measures to boost bilateral tradetoward stable growth, help Vietnam ease the trade deficit and facilitate theexpansion of markets and of cooperation and distribution channels forVietnamese goods, particularly farm produce favoured by Chinese consumers likefruit, fishery products, pork and milk.

Shanghai Mayor Ying Yong has pledged to support and offerincentives for Vietnamese firms taking part in China’s international importexpositions in Shanghai so that key Vietnamese goods like agro-forestry-fisheryproducts will be available in larger amounts in the city and beyond, Deputy FMTrung said.

Chinese enterprises praised improvements in Vietnam’s businessclimate in recent times. They said they want to expand investment in thecountry’s high-tech and sustainable sectors.

During the tour, leaders of both sides agreed to better controldifferences and maintain peace and stability at sea.

PM Phuc lauded outcomes achieved through negotiations andcooperation in less sensitive marine matters between the two countries as wellas initial progress in ASEAN – China negotiations for the Code of Conduct inthe East Sea (COC).

He requested Vietnam and China respect the interests of eachother, realise the common perceptions of their high-ranking leaders and theagreement on the basic principles guiding the settlement of sea-related issuesbetween Vietnam and China, and solve disputes by peaceful measures in line withinternational law and the 1982 UN Convention on the Law of the Sea to maintainpeace and stability in the East Sea and the region.

On the participation of Vietnam at the first CIIE in Shanghai,Trung said the country was chosen as a guest of honour.

According to him, Vietnam sent 25 enterprises to the expospecialised in the areas of farm produce, fishery products, food processing andtrade services. The Vietnamese space attracted many visitors and transactions,while various contracts were signed.   

Speaking at the fair’s opening ceremony, PM Phuc sent a strongmessage of Vietnam’s support toward the liberation and facilitation of tradeand investment, as well a and its willingness to work with other countries intackling global challenges.

The Government leader introduced Vietnam’s cooperation potential,particularly in terms of market, business climate, competitiveness andinnovation. He also mentioned the country’s key products like rice, coffee,fruit, apparel and high-tech electronic devices, among others.

He stated Vietnam always creates a fair environment for foreigninvestors, highlighting the importance of increasing dialogues between theGovernment and businesses, and of effectively applying administrative reformmeasures, particularly in customs and quarantine procedures.

Vietnam’s performance at the expo has contributed to boostingVietnam – China cooperation across spheres, especially economy – trade,promoting the national image, trademarks and products, propelling the export ofVietnamese key products like agro-forestry-fishery goods and processed food toChina and other countries worldwide, and helping Vietnamese firms seek newmarkets and expand their businesses, Trung stressed.

Source: VNA

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