Chinese Minister of Commerce: Facilitate Vietnam's exports through e-commerce

Tuổi Trẻ reports on a significant meeting between Vietnamese Minister of Industry and Trade Le Manh Hung and Chinese Minister of Commerce Wang Wentao, highlighting the deepening economic ties between the two nations. The discussions underscored the strategic importance of the bilateral relationship, with China reaffirming its position as Vietnam's largest trading partner and Vietnam holding the same status within ASEAN for China. This symbiotic economic relationship is a cornerstone of regional stability and growth.

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China will continue to support Vietnam in establishing more Trade Promotion Offices in China.

The Vietnamese delegation, led by Minister Hung, emphasized the need to restructure production, trade, and supply chains to ensure balanced and sustainable growth. Key proposals included increasing imports of Vietnamese goods into China, expanding the list of tariff-exempt products, and mutual recognition of phytosanitary inspection results for agricultural and aquatic products. Crucially, Vietnam sought greater facilitation for its exports via cross-border e-commerce and the expansion of Vietnamese trade promotion offices within China.

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China is ready to create favorable conditions for Vietnam to increase cross-border e-commerce exports.

Minister Wang Wentao responded positively, pledging China's support for Vietnam's efforts to establish more trade promotion offices and enhance its presence on Chinese e-commerce platforms. The agreement to establish a joint technical working group to review trade mechanisms signals a commitment to overcoming existing hurdles and achieving the ambitious goal of reaching $500 billion in bilateral trade. From Vietnam's perspective, this engagement is vital for economic development, offering opportunities to leverage China's vast market while navigating the complexities of global trade dynamics. The focus on e-commerce, in particular, represents a forward-looking strategy to tap into new avenues for export growth.

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We need to focus on restructuring production, trade, and supply chains.