Vietnam – China trade hits over US$10 billion in January
VOV.VN - China was Vietnam’s only trading partner to have an import and export turnover reaching more than US$10 billion in January, according to the General Department of Vietnam Customs.
Of the figure, Vietnamese export turnover was US$3.87 billion while the country spent US$7.23 billion on importing goods from the northern neighbour.
Vietnam’s key export commodities include phones and components, while major imported items are electronic products and components, machinery, equipment, tools and spare parts, materials, consumer goods, and agricultural products.
At present, China is an important export market for some Vietnamese agricultural products. It is the country’s third largest importer of seafood products, behind only the United States and Japan.
With China moving to reopen its border gates on January 8, there are positive signs for businesses to boost the export of local agricultural products to the northern neighbour.
Industry insiders emphasised the need to develop brands and build large-scale farming areas in order to comply with stringent requirements set by Chinese market in terms of code of the growing area, packaging facilities, origin traceability, and export business registration as a means of increasing exports to the market.
The General Administration of Customs of China has so far granted 435 codes to Vietnamese agricultural product exporters this year.
