Vietnam-China bilateral trade may reach $25b in 2010

“In 2005, Vietnam-China bilateral trade turnover reached only $5 billion, but the figure is expected to see five-fold increase to $25 billion in late this year” deputy prime minister Truong Vinh Trong said at the seventh Exhibition of China-Asean (CAEXPO 2010), taking place in the city of Nanning (Guangxi, China).

According to the deputy prime minister, the figure showed bilateral trade and economic relations between Vietnam and China are growing strongly.

Statistics of the Chinese general Department of Customs showed that, during first six months of this year, two-way trade reached $12.824 billion, of which exports from China to Vietnam reached nearly $9.87 billion dollars and imports from Vietnam reached $2.95 billion.

Direct investment of China in Vietnam was $74.2 million, up 131.1 percent over the same period last year. Vietnam has licensed 35 investment projects of Chinese investors totalling $60.5 million, increasing five fold in the number of projects and 8.5 times in value over the same period in 2009.

Currently, China is Vietnam’s 11th biggest foreign investor.
As reported by the organisers, CAEXPO 2010 has more than 4,000 stalls of 2,500 enterprises from Asean countries, China and other countries and territories.

Vietnamese enterprises attended CAEXPO 2010 with the largest scale amongst the Asean countries, including 120 enterprises with 192 stalls in the fields of agricultural, food processing, furniture, and handicrafts – TBKTVN

Tags: Vietnam China bilateral trade

Posted by VBN on Oct 22 2010. Filed under Import-Export, Import-Export turnover. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry