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China, Vietnam witness positive trade, economic cooperation: vice commerce minister

Xinhua, July 18, 2015 Adjust font size:

Bilateral trade and economic cooperation between China and Vietnam has been gaining positive achievement, visiting Chinese Vice Minister of Commerce Zhong Shan said here Saturday. "In 2014, bilateral trade revenue between China and Vietnam reached 83.6 billion U.S. dollars, a year-on-year increase of 27 percent. In the first half of 2015, bilateral trade revenue posted a dramatic growth of 16.6 percent," the vice minister said to the Vietnamese media before attending the opening ceremony of the construction of Vinh Tan 1 thermal power plant.

Specifically, China's exports to Vietnam witnessed an increase of 14.8 percent, while Vietnam's exports to China increased 22.2 percent, Zhong said. "In the future, the two countries will continue to strengthen trade, economic cooperation, focusing on expanding bilateral trade revenue. Both sides will strive to bring bilateral trade revenue to over 100 billion U.S. dollars before 2017," Zhong told the reporters.

Chinese investment to Vietnam also witnessed impressive development. So far, Chinese investment to Vietnam surpassed 8 billion U.S. dollars, Zhong said, adding that Chinese investment in Vietnam is in big scale with high investment.

Construction of several big scale projects has been completed and is yielding positive results, Zhong said. "China is willing to import more Vietnamese products and create favorable conditions for Vietnamese businesses to invest in China. Chinese enterprises are encouraged to do businesses in Vietnam, especially in areas of infrastructure construction. China also supports cooperation in production capacity and construction of industrial parks," Zhong emphasized.

Both sides will continue to promote the implementation of big scale cooperation projects in accordance with the initiative of " one belt, one road" and "two corridors, one belt", thus boosting Chinese investment in Vietnam and the development of Vietnamese socio-economy, he said.

China and Vietnam are two neighboring countries with much potentials and favorable conditions for further cooperation. The two sides will continue to promote cooperation in people-to-people exchange and financial areas, Zhong added.

The Chinese vice minister also expressed his belief that the two countries will continue to further expand bilateral pragmatic cooperation.

Vinh Tan 1 thermal power plant, located in Vietnam's southern Binh Thuan province, is invested by the consortium under China's Southern Power Grid Company, China Power International Development Company (95 percent of investment) and the Power Corporation under the Vietnam National Coal-Natural Industries Corporation. Endi