General

In the face of a series of challenges such as the increasing global economic instability and the inconvenience of economic and trade exchanges caused by the COVID-19 epidemic, China and Vietnam have continuously deepened economic and trade cooperation and made remarkable achievements in forging ahead.

  In an exclusive interview with reporters, Xu Ningning, Executive Chairman of the China ASEAN Business Council and Chairman of the RCEP Industrial Cooperation Committee, said that he looked forward to a complete success of the visit, injecting new impetus into the stability of bilateral economic and trade relations and promoting the further development of bilateral friendly relations.

China and Vietnam are close economic and trade cooperation partners. ASEAN is China's largest international trade partner in the past three years. Vietnam is China's largest trade partner in ASEAN and the sixth largest trade partner in the world. China's investment in Vietnam is mainly concentrated in processing and manufacturing industries, especially in electronics, mobile phones, computers, textiles and clothing, machinery and equipment and other industries. "The close economic and trade cooperation comes from the common development needs and conforms to the national interests of the two countries, as well as from the cooperation between enterprises of the two countries to jointly seize new opportunities brought by regional open markets." Xu Ningning said.

In the face of a series of challenges such as the increasing global economic instability and the inconvenience of economic and trade exchanges caused by the COVID-19 epidemic, China and Vietnam have continuously deepened economic and trade cooperation and made remarkable achievements in forging ahead. "China Vietnam economic and trade cooperation has played an important role in promoting the consolidation and development of the comprehensive strategic cooperative partnership between the two countries. Economic and trade cooperation has also expanded the common economic interests of the two countries and benefited people's livelihood, helping to consolidate and develop bilateral relations." Xu Ningning said.

China and Vietnam are connected by mountains and rivers, with strong economic and trade complementarities. Chinese enterprises are concerned about Vietnam's investment environment. In recent years, more and more Chinese enterprises have asked the China ASEAN Business Council about Vietnam's business environment and investment policies. Through many meetings, the China ASEAN Business Council analyzed Vietnam's investment environment and development opportunities with Chinese enterprises.

"In recent years, under the leadership of the leaders of the two countries, the governments of the two countries have reached a series of cooperation consensus, and the bilateral relations have continuously made new development, creating favorable conditions for Chinese enterprises to enter Vietnam." Xu Ningning paid attention to the improvement of Vietnam's investment environment in recent years. He believed that Vietnam's improvement of administrative efficiency, improvement of relevant investment laws and regulations, anti-corruption, and continuous development of economic and trade cooperation with many countries in the world have provided favorable conditions for Chinese international trade enterprises to invest and develop in Vietnam.

"Both China and Vietnam are committed to opening up and development. In the face of today's increasingly severe international political situation and global economic situation, the two countries should enhance mutual trust, cooperate and develop, improve the investment environment, and do not restrict cooperation because of unfavorable cooperation views in some aspects." Xu Ningning said.

In the first nine months of this year, Vietnam's economic growth rate reached 6.5%. The Vietnamese government predicts that Vietnam's economy will grow by 8% this year and 6.5% in 2023. It is expected that Vietnam's economic growth rate will rank first in ASEAN this year. In recent years, the Vietnamese government has attached importance to the development of green economy and digital economy, promulgated a series of development strategies, policy measures and action plans, encouraged international trade enterprises to accelerate green transformation, supported the development and utilization of renewable energy and new energy, actively carried out international trade cooperation on green and low-carbon growth, and promoted the development of digital platforms and infrastructure construction. In addition, Vietnam has signed 15 free trade agreements with foreign countries, including the Comprehensive and Progressive Trans Pacific Partnership Agreement (CPTPP), the Vietnam EU Free Trade Agreement, the Vietnam Eurasian Economic Union Free Trade Agreement and the Regional Comprehensive Economic Partnership Agreement (RCEP). Xu Ningning said that relevant factors have created good conditions for Chinese enterprises to invest in the appointment.

Xu Ningning put forward four suggestions on deepening China Vietnam economic and trade cooperation. First, clear objectives, expand consensus and strengthen measures. Second, we should work together to address more and more serious and growing challenges to international trade issues. The relevant industries in various fields of the two countries should actively connect and coordinate the implementation of response measures. The third is to fully seize the new opportunities brought by the opening of the RCEP market. We should take the effective implementation of RCEP as an opportunity to actively build a new industrial chain with complementary advantages and promote the optimization and upgrading of industrial structure through industrial cooperation. Fourth, we should jointly promote the further upgrading of the China ASEAN Free Trade Agreement. The two countries will strengthen close communication and consultation in this regard, fully develop their economic and trade complementarities, and promote their comprehensive strategic partnership with the development of economic and trade cooperation.