AsemconnectVietnam - After the first 9 months of the year, China still maintained its position as Vietnam's second largest export market and largest import market.

According to the Ministry of Industry and Trade, in the first 9 months of 2023, China was our country's second largest export market with an estimated turnover of 42.2 billion USD, an increase of 2.1%. This is the only export market among Vietnam's major export markets to achieve positive growth (up by 2.1%), while the exports to the other major markets all decreased.
On the contrary, China was still Vietnam's largest import market with an estimated turnover of 79 billion USD, down by 13.6% over the same period last year.
Thus, Vietnam - China trade has officially exceeded the 120 billion USD mark after the first 9 months of the year.
To achieve this result, in recent times, the Ministry of Industry and Trade and localities have well implemented solutions to create maximum convenience for exports to countries sharing a common border. In general, basic goods are not congested, even during peak seasons, contributing to increasing export turnover to the Chinese market.
For example, with durian products, to create maximum convenience for this fruit to be exported to China, Lao Cai Border Gate Customs Branch has prioritized the green channel and provided maximum procedural support. Previously, a fruit cart had to complete 4-5 documents related to plant quarantine, but now it is reduced to just 1 type of document. Thanks to the facilitation solutions of the units and the competent forces at the border gate, customs clearance time for durian and other exported agricultural products only takes about 5 minutes/shipment.
Therefore, durian has risen to become the group of export goods with the largest turnover at Lao Cai International Border Gate Customs Branch.
Especially, within the framework of Prime Minister Pham Minh Chinh's official visit to the People's Republic of China and attendance at the 14th Annual Conference of WEF Pioneers in China, in the spirit of the common awareness reached at meetings and talks between Prime Minister Pham Minh Chinh and General Secretary, President of China Xi Jinping, Chinese Prime Minister Li Qiang, on June 28, Minister of Industry and Trade Nguyen Hong Dien had a meeting important bilateral talks with Chinese Commerce Minister Wang Wentao.
At the talks, Minister Nguyen Hong Dien proposed that the Chinese Minister of Commerce actively promote the expansion of bilateral trade and economic and trade cooperation with Chinese localities to support bringing Vietnamese goods penetrate deeper into the country's domestic market.
In addition, Minister Nguyen Hong Dien proposed promoting improving customs clearance efficiency at the border gate, establishing the Vietnam Trade Promotion Office in Haikou (Hainan province - China) in 2023, creating favorable conditions for favorable conditions for Vietnamese export goods to transit Chinese railways to third countries.
Emphasizing the importance of the Memorandum of Understanding between the Ministry of Industry and Trade and the Ministry of Commerce of China on strengthening cooperation to ensure the Vietnam-China goods supply chain, Minister Nguyen Hong Dien said that the two sides need to develop an action plan; actively implement the memorandum of understanding, build a logistics network connecting the supply chain between the two countries from raw material areas, industrial parks and manufacturing plants of the two countries to ports/border gates and distribution centers in of the two countries.
The Ministry of Industry and Trade also recommends that businesses need to make efforts to improve product quality to conquer the market because China currently applies very high quality management standards for imported products. At the same time, efforts are being made to cooperate with large Chinese distribution chains to bring goods deep into the mainland.
CK
Source: VITIC/congthuong.vn