There remains ample space for commercial cooperation between localities in Vietnam and China’s Sichuan province, a conference on trade, investment, and economic cooperation promotion between Vietnam and China in Hanoi on April 3 heard.
Mr. Le Hoang Tai, Deputy Director of the Foreign Trade Agency at the Ministry of Industry and Trade (MoIT), said trade between Vietnam and China has basically recovered following Covid-19 and there is great potential to develop economic cooperation between localities in Vietnam and Sichuan.
Sichuan holds an important position in China’s inter-regional development strategies, giving it an important role in connecting the country with its Southeast Asian neighbors, including Vietnam, conference participants said.
Vietnam is Sichuan’s largest ASEAN trading partner, according to the MoIT. With a large population and strengths in tourism, heavy industry, manufacturing, mining, and transport infrastructure, the province has been and will remain a partner of potential for many Vietnamese localities in many fields.
Sichuan’s foreign trade stood at $151.1 billion in 2022, including $11.3 billion in trade with Vietnam, or 7.4 per cent.
Three MoUs between Vietnamese and Sichuan businesses were signed at the conference.
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