Guangdong Import and Export Fair underway in Hanoi

At the opening ceremony (Photo: VNA)

On display are various products like rice, coffee, rubber, cotton, garment accessories, handicrafts, cooking utensils and electric equipment. 

The fair offers Vietnamese businesses a chance to meet producers and discuss cooperation in such areas as machinery, electric equipment and electronics; LED and lighting technology; construction materials and furniture; fashion, household utensils and food; high-tech products and accessories. 

More than 3,000 potential buyers were invited to the event to participate in a business networking programme.

Speaking at the opening ceremony, Vietnamese Deputy Minister of Industry and Trade Do Thang Hai described the fair as a bridge helping businesses of the two countries connect and seek cooperation opportunities in trade, investment and tourism, helping to enhance cooperation between Vietnam and China as well as Guangdong in particular. 

Vice Governor of Guangdong province Ouyang Weimin said China is Vietnam’s biggest trade partner and Guangdong is the country’s pioneer partner in economic and trade cooperation as well as friendship exchange. 

Statistics from the General Department of Vietnam Customs show that Vietnam - China trade turnover reached 106.7 billion USD in 2018, up 13.5 percent year-on-year. In the first six months of 2019, the bilateral trade hit 52.36 billion USD, up 11.8 percent. 

Currently, 110 enterprises of Guangdong province are investing in Vietnam and the number is expected to increase in the time ahead. 

Trade between Vietnam and Guangdong exceeded 37 billion USD last year, accounting for a quarter of the total import-export turnover between Vietnam and China.
A trade and investment forum was held within the framework of the fair the same day. 

Johnson Choi, Acting Chairman of the Hong Kong-Vietnam Chamber of Commerce and Executive Director of Sunwah Group, said Vietnam boasts advantages in terms of infrastructure, economy, technology and others. 

The Vietnamese Government has rolled out many preferential policies in an effort to attract foreign investors, he said, adding that many partners of Sunwah have talked about projects they want to invest in Vietnam. 

Zheng Jianrong, Director General of Guangdong’s Department of Commerce, said as of the end of 2018, Guangdong had invested a combined 250 million USD in Vietnam.

Vietnam has become Guangdong’s largest trade partner in the Association of Southeast Asian Nations (ASEAN) and received most investment from the Chinese province, he said.