In a press conference on the development
of Guangzhou, Zheng said two-way trade between Vietnam and Guangzhou rose by
10.2% to US$2.8 billion in 2016.
Guangzhou shipped to Vietnam US$1.83
billion worth of commodities last year, a year-on-year increase of 12.3%,
doubling Vietnam’s exports to the city which was estimated at US$970 million,
up 6.5%.
It made Vietnam the second largest trade
partner of Guangzhou in ASEAN, after Malaysia who reported US$3.48 billion in
trade with the Chinese city.
The future is even brighter for the two
sides when the bilateral trade hit US$1.83 billion in the first five months of
2017, up 82.2% year-on-year, surpassing Malaysia. Guangzhou continued to enjoy
a trade surplus of US$970 million, with exports to Vietnam worth US$1.4
billion, during the period.
According to Zheng, Guangzhou
established four new enterprises in Vietnam last year; and by May 2017, the
city has had 21 new businesses, bringing its total investment in the country up
to approximately US$50 million.
Meanwhile, as of May, Vietnam has
established nine companies in Guangzhou, raising the total investment in the
city to US$6.48 million.
Guangzhou and Guangdong have closely
coordinated with Vietnam’s localities, businesses and business associations to
build foundation for the bilateral trade and cooperation between the two sides,
Zheng affirmed.
Source: VNA
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