Vietnamese businesses get contracts worth VND50 mln in Nanning

Vietnamese businesses signed contracts worth an estimated VND 1 trillion (US$50 million) at the freshly-ended China-ASEAN Expo 2010 in Nanning, China’s Guangxi Zhuang Autonomous Region.

Phan Viet Hien, an Industry and Trade Ministry official in charge of Vietnam’s booth at the seventh China-ASEAN Expo (CAEXPO 2010), announced the figure on October 24, adding that it was 1.5 times over that at last year’s Expo.

By October 23, signed contracts and retail sales by Vietnamese businesses at the Expo were valued at VND 700 billion (US$35 million). Of them, wooden works and fine arts and handicraft products made up 40-50 percent.

Hien said Vietnamese products, including green bean cake and Bien Hoa coffee sold very well at the CAEXPO 2010.

They displayed farm products and processed food, wooden furniture and handicrafts, and introduced projects calling for investment, trade and tourist services.

According to the Ministry, two-way trade between Vietnam and China rose by 20-25 percent in recent years. China is the largest exporter to Vietnam and ranks third among importers of Vietnamese goods.

In the first six months of this year, two-way trade between the two countries reached 11.9 billion USD, of which Vietnam’s exports rose 45 percent to US$2.8 billion over the same period last year.

The two-way trade is expected to reach US$25 billion for the whole year. – VNA

Tags: China ASEAN Expo 2010