The workshop "Introducing the Canton Fair 2025", organized by the Vietnam Chamber of Commerce and Industry, Ho Chi Minh City Branch (VCCI-HCM), attracted a large number of Vietnamese and Chinese enterprises to attend - Photo: Dinh Dai.

Speaking at the workshop, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh assessed that in recent years, the comprehensive strategic cooperative partnership between Vietnam and China has been continuously consolidated and enhanced. High-level exchanges and contacts have taken place regularly, creating a solid foundation for bilateral relations to develop more and more substantially and comprehensively in all fields, especially in trade and investment.

Regarding bilateral trade, Vice Chairman of VCCI Vo Tan Thanh said that China continues to be Vietnam's largest trading partner and Vietnam's second largest export market. In contrast, Vietnam is China's largest trading partner in ASEAN and ranks 5th in the world. world.

In 2024, bilateral trade turnover between the two countries will reach more than 205.2 billion USD, accounting for 25.99% of Vietnam's total import-export turnover. Of which, Vietnam's exports to China will reach more than 61.2 billion USD, accounting for 15.09% of Vietnam's total export turnover, although slightly decreasing by about 100 million USD compared to 2023.

On the other hand, imports from China will reach more than 144 billion USD, an increase of more than 30% over the previous year and accounting for 37.82% of Vietnam's total import turnover. The structure of import and export goods is increasingly diverse, including: agricultural products, production materials, electronics, consumer goods and many other fields.

VCCI Vice Chairman Vo Tan Thanh delivered the opening speech at the Workshop - Photo: Dinh Dai.

“With Vietnam participating in 17 Free Trade Agreements (FTAs) and implementing 15 FTAs, Vietnam-China trade still has a lot of room for further development. FTAs ​​help Vietnam access the large global market and become one of the most open economies in the world (reaching 165.71% of GDP in 2024). This creates favorable conditions for businesses of the two countries to take advantage of trade and economic cooperation opportunities,” said VCCI Vice Chairman Vo Tan Thanh.

Regarding investment, Mr. Thanh said that as of December 31, 2024, China ranked 6th out of 149 countries and territories investing in Vietnam with 5,111 projects and a total registered capital of over 30.8 billion USD. In 2024, China invested 4.7 billion USD, continuing to hold the third position among the largest investors in Vietnam.

VCCI Vice Chairman Vo Tan Thanh said that a notable bright spot is that the quality of China's investment in Vietnam has improved significantly. Previously, projects mainly focused on textiles and footwear, but now they have shifted strongly to high technology, renewable energy, infrastructure, electronics, electric vehicles and modern industries.

"Many Chinese enterprises with international scale have implemented large projects, contributing to promoting the industrialization and modernization process of Vietnam, while creating a series of job opportunities and technology transfer," Mr. Thanh emphasized.

At the same time, he also affirmed that VCCI will always strive to coordinate with agencies and organizations of the Government and people of China to implement many practical activities, contributing to supporting the business communities of the two countries. Today's workshop is a testament to these efforts, aiming to deepen and further substantiate the trade relations between Vietnam and China in the new period.

"Canton Fair - China's largest international trade fair and also the world's number one event, is held twice a year in April and October in Guangzhou. The 137th fair in 2025 promises to continue to be an important bridge, bringing effective trade opportunities for Vietnamese enterprises with international partners", added VCCI Vice Chairman Vo Tan Thanh.

In his welcoming speech at the workshop, Mr. Wei Huaxiang - Consul General, Consulate General of China in Ho Chi Minh City said that economic and trade cooperation is a highlight in China - Vietnam relations, and also an important driving force promoting the relations between the two countries.

Mr. Wei Huaxiang - Consul General, Consulate General of China in Ho Chi Minh City spoke at the Workshop - Photo: Dinh Dai.

Citing statistics from the General Department of Customs of China, Mr. Wei Huaxiang said that in 2024, the bilateral trade turnover between China and Vietnam reached 260.65 billion USD, an increase of 13.5% over the same period last year, setting a new record in history. China continues to be Vietnam's largest trading partner, Vietnam has also become China's fourth largest trading partner.

Vietnam's agricultural exports to China for the whole year reached 12.2 billion USD, a large amount of high-quality agricultural products from Vietnam such as durian, coconut, banana, bird's nest, etc. are continuously appearing on the dining tables of Chinese people, substantive economic and trade cooperation continuously brings practical benefits to the people of the two countries.

According to Consul General Wei Huaxiang, implementing the common perceptions of the two parties and two countries' senior leaders and deepening economic and trade cooperation between China and Vietnam requires more foundations and opportunities. He also said that on April 15, 2025, the 137th China Import and Export Fair will open in Guangzhou.

"I sincerely hope that Vietnamese businessmen will make good use of this important foundation, actively register to participate in the exhibition, proactively expand the market, seek cooperation opportunities, continue to contribute to the stable, healthy and rapid development of China-Vietnam trade, bring success to themselves, and contribute to the development of China-Vietnam friendship", Consul General Wei Huaxiang emphasized.

At the same time, he also affirmed that the Chinese Consulate General in Ho Chi Minh City will always cooperate closely with relevant parties in Vietnam, including VCCI, strengthen coordination with the China Foreign Trade Center, actively promote the role of a bridge and a connecting thread, provide full support and create the most favorable conditions for Vietnamese enterprises to participate in the Canton Fair.