A new milestone in trade cooperation

On April 8, in Haikou city, Hainan province (China), Vietnam’s Ministry of Industry and Trade, in coordination with the Hainan Provincial People’s Government, held the inauguration ceremony of the Vietnam Trade Promotion Office in Haikou. The event marks an important milestone in implementing the shared understanding of the two countries’ senior leaders, as outlined in the Vietnam - China Joint Statement during the state visit to Vietnam by Xi Jinping in April 2025. It also represents a concrete step in fulfilling the Prime Minister’s assignment for the Ministry of Industry and Trade to take the lead in establishing Vietnam Trade Promotion Offices across Chinese localities.

Attending the ceremony on the Vietnamese side were Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan, Minister-Counsellor of the Vietnamese Embassy in China Hoang Van Tuan, along with representatives from various departments under the ministry, the Vietnam Trade Office in China, and Trade Promotion Offices in Chongqing and Hangzhou, as well as media representatives.

On the Chinese side were leaders of the Hainan Provincial People’s Government, the Department of Commerce, the Foreign Affairs Office of Hainan, authorities from Dongfang city, and numerous representatives from business associations, industries, enterprises, and local media.

Speaking at the ceremony, Deputy Minister Nguyen Sinh Nhat Tan emphasized that the launch of the office is not merely a standalone trade promotion activity but the result of close coordination between both sides over time.

“This is a tangible outcome of cooperation between Vietnam’s Ministry of Industry and Trade and the Hainan Provincial People’s Government, aimed at implementing the important shared understanding between the two countries’ senior leaders, one year after signing agreements related to the establishment of the Trade Promotion Office in Haikou,” he stated.

Driving trade and expanding market potential

Against the backdrop of Vietnam - Hainan trade reaching approximately USD 1.4 billion in 2025, accounting for a modest 0.48% of total Vietnam - China trade there remains significant room for further cooperation. The ministry’s leadership called on Hainan authorities and relevant Chinese agencies to continue facilitating favorable conditions for the office to operate effectively, serving as a bridge to promote investment, business cooperation, and enterprise connectivity.

“Relevant authorities should create all necessary conditions for the office to effectively carry out trade and investment promotion activities, business matchmaking, and thereby fulfill its mission as a bridge to strengthen economic and trade cooperation between Vietnam and China, particularly with Hainan province,” the Deputy Minister stressed.

Businesses and industry associations from both countries were also encouraged to leverage the office’s role to expand cooperation, capitalize on complementary advantages, and foster more substantive and effective economic ties.

Representatives of the Hainan Provincial People’s Government noted that Vietnam is an important trading partner of Hainan within ASEAN. Both sides hold strong potential for cooperation in areas such as tropical agriculture, food processing, logistics, the digital economy, and tourism. The establishment of the Vietnam Trade Promotion Office in Haikou is expected to support market information provision, business connectivity, and the effective unlocking of cooperation potential.

At the event, representatives of the Vietnamese Embassy in China affirmed that the office’s establishment is a concrete step toward consolidating the foundation of bilateral relations and realizing the shared understanding of the two Parties and countries in promoting substantive cooperation. The embassy will continue to coordinate with and support the Ministry of Industry and Trade in expanding the network of Trade Promotion Offices in China in line with the Vietnamese Government’s directives.

In the broader context of bilateral relations, Deputy Minister Nguyen Sinh Nhat Tan highlighted that Vietnam - China economic and trade cooperation continues to maintain strong growth momentum, with expanding scale and high complementarity between the two economies. China remains Vietnam’s largest trading partner, while Vietnam is one of China’s leading trading partners in ASEAN.

“China has been Vietnam’s largest trading partner for many consecutive years; bilateral trade turnover reached USD 256 billion in 2025, up 24.7% year-on-year, the highest growth rate ever recorded,” he noted.

According to Vietnamese statistics, total bilateral trade in 2025 reached USD 256 billion, up 24.7% compared to 2024, including USD 70.4 billion in Vietnam’s exports to China and USD 186 billion in imports. Chinese data put the figure at USD 296.1 billion, up 13.67%.

As Hainan officially launched its province-wide Free Trade Port on December 18, 2025, with a range of breakthrough policies, the Vietnam Trade Promotion Office in Haikou is expected to become a key hub for advancing trade and investment promotion, facilitating business connections, providing market and policy information, and supporting trade expansion in promising sectors such as logistics, agricultural products, processing industries, the digital economy, and e-commerce.