China Vietnam Photo: VCG

China will step up economic and trade cooperation with Vietnam in various aspects from strengthening trade in agriculture to deepening cooperation in emerging sectors, China's Ministry of Commerce (MOFCOM) spokesperson He Yadong said on Thursday. 

The two sides will further expand economic and trade cooperation by actively studying the construction of pilot cross-border economic cooperation zones and broadening cooperation in emerging areas such as information technology, new energy and the digital economy.

Speaking of bilateral trade, He said that the ministry will support enterprises from both sides to fully utilize platforms such as the China International Import Expo, the Canton Fair and the China-ASEAN Expo to promote exchanges of high-quality agricultural and aquatic products as well as industrial manufactured goods.

Visitors buy products at the Belt and Road International Pavilion during the 21st China-ASEAN Expo at Nanning International Convention and Exhibition Center in Nanning, south China's Guangxi Zhuang Autonomous Region, Sept. 28, 2024. Products from the Association of Southeast Asian Nations (ASEAN) countries, such as durians, cookies and rosewood, as well as those from other countries including Russian sausages and Peruvian alpaca-fur stuffed toys have enjoyed popularity at the 21st China-ASEAN Expo in Nanning. (Photo: Xinhua)

He said that the ministry will support the two sides to enhance cooperation in industrial parks and on the local level, in a bid to promote industrial integration and build smooth and stable cross-border industrial and supply chains.

He also highlighted the importance of further promoting regional economic integration by supporting firms from the two countries to fully utilize the Regional Comprehensive Economic Partnership, Version 3.0 of the China-ASEAN Free Trade Area, and other multilateral and bilateral economic and trade cooperation agreements and policy dividends, making greater contributions to the development and prosperity of the region.

China is Vietnam's largest trading partner, and Vietnam is China's largest trading partner within ASEAN, said He.  

Bilateral trade has exceeded $200 billion for three consecutive years, and it stood at $190.38 billion in the first nine months of 2024, a year-on-year increase of 17.6 percent, official data showed.

Vietnam is an important overseas investment destination for Chinese companies. From January to August this year, Chinese firms invested $1.97 billion in Vietnam, maintaining a rapid growth.

On Tuesday, the China-Vietnam Detian Waterfall project, the first cross-border tourism cooperation zone in China, officially opened.

Global Times