VN, China beef up farm produce trading

VGP - The Vietnamese Ministry of Industry and Trade and the Chinese Ministry of Commerce on Monday in Ha Noi sealed a memorandum of understanding (MOU) on farm produce trading on the occasion of the eighth session of the Viet Nam-China Joint Economic and Trade Cooperation Committee

April 22, 2013 7:03 PM GMT+7

Viet Nam and China sign MOU on farm produce trading, Ha Noi, April 22, 2013 - Photo: VNA

At the meeting, the two sides reviewed their economic and trade cooperation results since the previous meeting and exchanged views on cooperation in trade and industry as well as other sectors to promote future trade and economic ties between the two countries.

The two sides discussed measures to raise two-way trade volume to US$60 billion by 2015 and reduce imports from China and strengthening cross border trade.

Both sides talked about ways to speed up and ensure the quality of projects involving Chinese contractors as well as Chinese preferential loans for Vietnamese infrastructure projects.

They agreed to strengthen cooperation between relevant ministries and agencies to remove obstacles, increasing the effectiveness of the two countries’ strategic comprehensive partnership.

The bilateral trade has witnessed remarkable developments with two-way trade turnover exceeding US41 billion in 2012, said Vietnamese Deputy Minister of Industry and Trade Nguyen Cam Tu.

China, said Mr. Tu continues to be Viet Nam’s largest trade partner. On the other hand, Viet Nam was one of China’s most important trade partners in ASEAN./.

By Kim Loan