Trade boom via Lao Cai border gate
(VOV) -Vietnam-China trade turnover through Lao Cai border gate was estimated at US$219 million in the first five months of 2014, representing an increase of 59% compared with the previous year.
The northern Lao Cai province’s Customs agency reported that there are approximately 200 trucks transporting goods from Vietnam to China and vice versa every day.
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Vietnam’s major export items include rice, cassava, watermelon and various other types of farm produce which earned US$89.6 million, up 98.2%.
Imports from China include coal, fertilizers, chemicals, machinery, and equipment valued at US$129.8 million in total, up 52.1%.
Notably, export value from 157,000 tonnes of Vietnamese rice to China in the first five months of this year hit around US$96 million.
Nguyen Quyet Chien, head of the Lao Cai customs department, attributed the rising trade value between Vietnam and China to simplified procedures for import-export activity which were implemented on May 8, reducing customs clearance times by a third.