Vietnam is a leading trade partner of China’s Guangzhou city, Guangdong province, in ASEAN, said Luo Zheng, director of the Comprehensive Division of the Commission of Commerce of the municipal government, on July 4.
In a press conference on the development
of Guangzhou, Zheng said two-way trade between Vietnam and Guangzhou rose by
10.2% to US$2.8 billion in 2016.
Guangzhou shipped to Vietnam US$1.83
billion worth of commodities last year, a year-on-year increase of 12.3%,
doubling Vietnam’s exports to the city which was estimated at US$970 million,
up 6.5%.
It made Vietnam the second largest trade
partner of Guangzhou in ASEAN, after Malaysia who reported US$3.48 billion in
trade with the Chinese city.
The future is even brighter for the two
sides when the bilateral trade hit US$1.83 billion in the first five months of
2017, up 82.2% year-on-year, surpassing Malaysia. Guangzhou continued to enjoy
a trade surplus of US$970 million, with exports to Vietnam worth US$1.4
billion, during the period.
According to Zheng, Guangzhou
established four new enterprises in Vietnam last year; and by May 2017, the
city has had 21 new businesses, bringing its total investment in the country up
to approximately US$50 million.
Meanwhile, as of May, Vietnam has
established nine companies in Guangzhou, raising the total investment in the
city to US$6.48 million.
Guangzhou and Guangdong have closely
coordinated with Vietnam’s localities, businesses and business associations to
build foundation for the bilateral trade and cooperation between the two sides,
Zheng affirmed.
Source: VNA
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