(VOVworld) - Border trade between Vietnam and China has increased sharply in recent years now, accounting for about 30% of bilateral trade revenue. Vietnam exports minerals, light industrial, agro-forestry, and fishery products to China and imports industrial, electronic, and agricultural products.
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| Mong Cai border gate |
Vietnam and China share a 1,400 km land border which touches 7 Vietnamese provinces and 2 Chinese provinces. There are 20 big border gates and a number of smaller border crossings. Economic reforms and the global integration policies of both countries have boosted bilateral trade. China imports a large volume of Vietnamese agricultural products. Border trade plays an important role in local economic growth and attracting foreign investment. Do Truong Giang, Deputy Director of the Lao Cai provincial Department of Industry and Trade, said: “Lao Cai province has worked with China’s Yunnan provincial Trade Department to organize trade promotion conferences for agricultural produce.”
Vietnam-China border trade must deal with differences in trade policies. Both countries need to create more favorable conditions for border trade and services, such as expanding warehouses, simplifying custom clearance procedures, and extending business hours at border gates. Central and local agencies must improve their coordination in border trade management. Vietnam shares borders with China, Laos, and Cambodia, but border trade with China earns about 85% of the total border trade revenue.