Beijing (VNA) – The Vietnam Trade Promotion Office in Haikou city was inaugurated on April 8 in China’s island province of Hainan, marking a step forward in strengthening economic and trade ties between Vietnam and China.

The event reflects the shared understanding reached by senior leaders of both countries, as outlined in the Vietnam–China Joint Statement during the April 2025 State visit to Vietnam by General Secretary of the Communist Party of China and President Xi Jinping. It also highlights the Vietnamese Ministry of Industry and Trade’s efforts to follow the Prime Minister’s directive to set up Vietnam Trade Promotion Offices in various Chinese localities.

At the ceremony, leaders of the Vietnamese Ministry of Industry and Trade described the office as a concrete outcome of cooperation with the People’s Government of Hainan Province, following the Memoranda of Understanding signed a year earlier, enhancing economic and trade ties and establishing the Haikou office.

They called on Hainan authorities, China’s Ministry of Commerce, and relevant agencies to facilitate the office’s operations, particularly in trade and investment promotion and business matching, thereby fulfilling its role as a bridge to strengthen economic links between the two countries, especially between Vietnamese localities and Hainan.

Business associations and enterprises from both sides were urged to leverage the office to expand investment and commercial cooperation, capitalising on complementary strengths and promoting more substantive economic engagement.

A representative of the Hainan provincial government highlighted Vietnam as one of China’s key trading partners in ASEAN, noting strong complementarities in sectors such as tropical agriculture, logistics, the digital economy, and tourism. The official expressed confidence that the office will enhance information exchange and business connectivity, contributing to more effective cooperation between Vietnamese localities and Hainan.

In his remarks, Hoang Van Tuan, Minister-Counsellor at the Vietnamese Embassy in China, said the office represents a practical step to deepen bilateral cooperation and realise shared high-level commitments. He also acknowledged the contributions of Vietnam’s existing trade promotion offices in China to the bilateral comprehensive strategic cooperative partnership.

The Vietnamese Embassy pledged continued coordination with the Vietnamese Ministry of Industry and Trade to expand the network of trade promotion offices across China.

The Haikou office is expected to act as a focal point for trade promotion, business connectivity, and investment cooperation between the two countries.

According to Vietnam's statistics, bilateral trade reached 256 billion USD in 2025, up 24.7% year-on-year, with Vietnam exporting 70.4 billion USD to China and importing 186 billion USD. Meanwhile, Chinese data put total trade at 296.1 billion USD, up 13.67%, including 97.9 billion USD in Vietnam’s exports and 198.15 billion USD in imports. Trade between Vietnam and Hainan remained modest at about 1.4 billion USD in 2025./.