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|The opening ceremony of the Guangdong (China) export-import fair in Vietnam 2019|
Under the hosting of the Guangdong Trade Department, the event aims to connect Vietnamese enterprises with counterparts from the three above localities of China in the fields of rice, coffee, rubber, textile accessories, cotton, handicrafts, kitchen utensils, and electrical equipment.
“In the morning of the first day, we received 100 appointments from exporting enterprises from all over Vietnam,” Zheng Jian Rong, director of the Guangdong Trade Department, said. According to Zheng, with the theme “Export, import – Investment and trade co-operation”, the fair looks to create comprehensive connections as well as improve the economic potential of the financial bay Guangdong, Hong Kong, Macau, and Vietnam to a new level.
“Over 3,000 VIP buyers invited to the fair through a professional business matching promise added values for bilateral co-operation. Famous multinational brands like Oppo, Midea, Gree, and TCL with elaborately designed booths have affirmed their objective of sustainable development in Vietnam,” Zheng said.
Meanwhile, according to Ou Yang Wei Min, vice mayor of the People’s Government of Guangdong Province, there are currently 110 enterprises from Guangdong investing in Vietnam and the number will increase in the future.
“Both sides have a firm basis for a mutually beneficial co-operation in the industrial sector. Guangdong is willing to enhance co-operation with Vietnam in processing and manufacturing, agricultural and fishery products,” Ou said. “The fair will bring opportunities for enterprises from both sides, marking a new milestone in the co-operation between Guangdong and Vietnam.”
On behalf of the Vietnamese side, Do Thang Hai, deputy minister of Trade and Industry, affirmed that the fair and business matching are important activities in strengthening co-operation between Vietnam and China in general, and Vietnam and Guangdong in particular. “Guangdong has always been Vietnam's biggest partner from China. In 2018, the export-import turnover of Guangdong to Vietnam accounted for 25 per cent of the total turnover between the two countries, with the value of $37.16 billion,” Hai said.
As a market of nearly 97 million people with an average income of $2,587 per person in 2018 and sustainable economic growth of 6.6-6.9 per cent, along with newly signed free trade agreements like the CPTPP and the EVFTA, Vietnam is an attractive destination for companies from neighbouring countries.
According to statistics from Vietnam Customs, in 2018, the trade turnover between Vietnam and China reached $106.7 billion, increasing by 13.5 per cent on-year. In the first six month of 2019, bilateral trade reached $52.36 billion, up 11.8 per cent. China continues to be the biggest trade partner, import market, and the second-largest export market for Vietnam. Meanwhile, Vietnam and Guangdong have also reached new steps of development with many projects implemented in Vietnam.