According to vice chairman of the Vietnam Chamber of Commerce and Industry (VCCI), Hoang Van Dung, the Vietnamese delegation recently accompanied the Prime Minister Phan Van Khai to China and Mongolia to seek co-operation opportunities met nearly 500 Chinese counterparts in Beijing, Yu Han and Shenyang. During the visit, VCCI, in conjunction with China's Chamber of Commerce, held three conferences that were designed to introduce economic, trade and investment opportunities between Vietnam and China. Vietnamese businesses signed many large contracts, including the Vietnam Steel Corporation's USD200 million contract. Businesses from the two countries also signed agreed to cooperate on auto manufacturing, steel production, mining, coal, wood processing, and seafood and agricultural product exports. With last year's two way trade value having reached USD4.87 billion, China now is Vietnam's third largest trade partner. China is so large, it will be easy for Vietnam to meet two-way trade … [Read more...] about Vietnamese businesses are willing to boost trade with China
Trading economics china
Vietnamese leader upbeat about trade with China
The trade targets of $10 billion by 2010 and $15 billion by 2015 set by Vietnam and China are "realistic," Vietnamese deputy prime minister Vu Khoan said Wednesday in Hanoi. As both economies witnessed strong growth, their demand for trade exchanges was very high, Khoan told visiting Chinese Deputy Trade Minister Wu Guang Zhou during a meeting. Deputy prime minister Vu Khoan (R) and Deputy Trade Minister Wu Guang Zhou … [Read more...] about Vietnamese leader upbeat about trade with China
In doubling yuan trading band, China aggravates foreign investor concerns
The Chinese central bank's decision to relax its grip on the yuan has been welcomed as a sign of financial liberalization, but it is aggravating concerns among foreign executives and investors about their exposure to China in the near term. The doubling of the trading band from Monday points to much greater downside risk in a currency that many investors have treated as a one-way appreciation bet for years, even when the yuan's daily trading range was expanded in the past. But it adds to a combination of factors that had already made these investors cautious. The central bank had engineered a slide in the yuan's value, adding to jitters in a market already anxious over the country's first default on a domestic bond, and signs of slowing economic growth, highlighted by a dramatic 18 percent fall in exports in February and sluggish manufacturing. "The foreign investors who we spoke with before this announcement were already becoming cautious," said Brian Ingram, chief investment … [Read more...] about In doubling yuan trading band, China aggravates foreign investor concerns
Increasing Trade with China
(VEN) - Trade with China accounts for 14.07 percent of total trade between Vietnam and other countries while trade with Vietnam makes up only 0.78 percent of the total value of China's foreign trade. This is the reason why Vietnam should increase exports to China. In 2006-2010, production materials and fuels accounted for about 55 percent of the total value of Vietnam's exports to China; agricultural, forest and aquatic products 15 percent; and industrial products 10 percent. The Vietnam Trade Promotion Agency under the Ministry of Industry and Trade forecasted that in 2011 Vietnam's exports to China will reach US$9.3 billion. The value of the main kinds of exports to China is predicted to grow about 35-45 percent annually. The export value of fruit and vegetables is forecasted to increase at a lower rate in comparison with industrial products. Border trade between Vietnam and China accounts for 25-35 percent of the total value of trade between the two countries, contributing … [Read more...] about Increasing Trade with China
“Vietnamese enterprises inefficient to do official trade with China”
VietNamNet Bridge - Given that "the majority of Vietnamese enterprises fail to meet the official trade relations," Mr. Wei Zi Shen, Trade Consul of the Chinese Consulate General in HCM City assured that "unofficial trade is the policy of China to help Vietnam.""Substandard Chinese goods have the fault of Vietnamese traders"Chinese official voices over complaints of Chinese traders in Vietnam Admittedly, the relations between Vietnam and China are currently hampered by the "problems left over by history" (i.e. the East Sea conflict), but Mr. Wei Zi Shen confirmed: "We should lessen the impact of that problem on the trade relations between the two sides. Good trade relations not only benefit the two countries but also contribute to protect peace and long tradition of friendship." What kinds of goods can Vietnam export favorably to China? I am going to say that all items that Vietnam can produce can be exported to China! China is a huge market for Vietnam, with an enormous population … [Read more...] about “Vietnamese enterprises inefficient to do official trade with China”