Vietnam, China boost trade cooperation

Laws/Hanoi - Industry and Trade Minister Vu Huy Hoang held talks with his Chinese counterpart Chen Deming in Hanoi on August 23 on bilateral cooperation in economics and trade, as well as at regional and multilateral forums.

The two ministers reviewed recent trade developments as trade turnover between the two countries exceeded 20 billion USD in 2009. By July this year the figure had hit over 13 billion USD and it is expected to reach the target of 25 billion USD by the end of the year.

They agreed to encourage localities along the common border to continue to boost exchanges and cooperate in the fight against smuggling and trade fraud to ensure a healthy and stable trading environment.

Both parties plan to speed up the completion of a feasibility study on cross-border economic cooperation zones, especially the Dong Dang-Pingxiang zone.

Minister Hoang asked the Chinese delegation to encourage their enterprises to import goods from Vietnam and to create the best possible conditions for Vietnamese exporters.

The two countries agreed to boost trade promotions, jointly organise a range of activities to celebrate the “Vietnam-China Friendship Year 2010” and support each other at multilateral forums.

The Chinese side said China supports Vietnam in its role as Chair of the ASEAN Economic Ministers’ meetings in 2010 and at the G20 Forum as ASEAN Chair.

In term of industrial cooperation, Vietnam has asked China to encourage major enterprises to invest in Vietnam .

The Chinese delegation revealed that they will soon approve a preferential loan to Vietnam for the building of several major industrial projects, including the Vinh Tan Thermal Power Plant 2./.