Friday, March 29, 2024 6:01:28 PM - Markets open
VN-INDEX 1,284.09 -6.09/-0.47%
HNX-INDEX 242.58 -1.33/-0.55%
UPCOM-INDEX 91.57 +0.09/+0.10%
China's reopening good news for Vietnamese exporters
Vietnamnews - 3/10/2023 4:35:45 PM
 (0 ratings. You must sign in to rate.)
 China's reopening as COVID-19 restrictions have been lifted has strongly lifted Vietnamese agricultural and fishery exports to the country, according to Deputy Minister of Agriculture and Rural Development Trần Thanh Nam.
 
Nam made the remarks at a trade promotion forum held on March 8.
 
The deputy minister opined that China's dismantling of its COVID-19 lockdowns had given a big push to bilateral trade, with Vietnamese exports to China in February rising by 33 per cent month-on-month.
 
The Móng Cái-Dongxing Border Gate was immediately reopened after the good news came in, leading to scores of traders flocking to the gate to look for Chinese partners.
 
The gate plays a prominent role in bilateral trade because it commercially connects Quảng Ninh Province with China's Guangxi Province. The latter is the third-largest importer of Vietnamese seafood, importing 75 per cent of its annual fishery consumption.
 
Regarding processed agricultural products, he said Vietnamese exporters who want to enter the Chinese market must hand in two dossiers, one to a Vietnamese agency and the other to a Chinese agency.
 
However, some exporters have skipped steps by submitting their dossier to the Chinese agency only, leading to the situation that the Vietnamese side is unable to verify the submitted dossier at the request of its Chinese counterpart.
 
The deputy minister called on exporters to strictly follow the procedure to save themselves from redoing the process. He also suggested the formation of a team tasked with keeping agricultural producers well-informed about the Chinese market.
 
A representative of the Department of Quality Management, Processing, and Market Development under the Ministry of Agriculture and Rural Development described Quảng Ninh as a commercial gateway to Asian markets for Chinese traders.
 
Guangxi is one of the major importers of Vietnamese agricultural and fishery products. The province alone accounts for 47.5 per cent of China's total imports from Việt Nam.
 
The representative urged Vietnamese producers to focus more on trade promotion to fully unlock the trade potential between the two countries.
 
Tô Vạn Quang, deputy chairman of the Vietnam-China Business Association in Guangxi, mentioned his Đông Đằng Industrial Investment Company, which was pushing hard for a Vietnamese seafood trading centre in Fangchenggang City.
 
He said its efforts have paid off as 600,000 tonnes of cold storeage warehouse are being built by the municipal authorities. Once finished, the warehouse would allow Vietnamese seafood to enter China in larger quantities and with lower lead times.
 
He also revealed that the company plans to import 35,000 tonnes of durians, 120,000 tonnes of purple sweet potatoes, and certain quantities of seafood to China this year.
 
Trần Thị Bích Ngọc, head of the Management Board, Móng Cái International Border Gate, estimated that Vietnamese agricultural and fishery exports to China via the gate grew by around 60 per cent year by year.
 
From her perspective, Vietnamese producers should reshape their mindset to bring more changes to bilateral trade. She said they need to be more commercially cooperative to not lose out on trade opportunities.
 
She also underlined the importance of digital technologies, including e-commerce, in trade promotion. She said e-commerce would allow producers to market their products beyond borders.
 
Lastly, the head urged the producers to embrace novel production techniques and well-organised management to keep their products up to standard.
 
Under Order No.248, Vietnamese food producers are required to register with the CIFER system to be eligible for exports to China.
 
Some participants at the forum complained that China had changed the registration procedures in the system, resulting in longer times to have their codes approved.
 
However, Ngô Xuân Nam, deputy director of the Sanitary and Phytosanitary Notification Authority and Enquiry Point (SPS Office), claimed that China had not made any such changes to the system since the enactment of Order No.248.
 
Even if China had wanted to revise the procedures for business registration and food safety, the process would never be a mean feat as the country has to consult other WTO members to get the job done.
 
The deputy director said his office had held talks with Chinese authorities, requesting them to speed up the process of approving Vietnamese producers.
 
Deputy Minister Nam suggested Quảng Ninh's authorities and their Chinese counterparts hold a live trade promotion forum in Dongxing City as soon as possible to enable bilateral discussion on business matching activities and supply chain development. — VNS
 
Read original article here
Newer News
28/03 Petrol prices increase on March 28
23/03 Rubber exports hit $160 million in Feb
23/03 Infrastructure to promote real estate market
20/03 Việt Nam ranks third in crypto gains in 2023
20/03 Việt Nam: A typical ASEAN trading partner of Mercosur
15/03 Petrol prices decrease slightly in latest adjustment
15/03 HCM City urged to create breakthroughs in foreign investment attraction
15/03 Japan seeks to boost seafood processing collaboration with Việt Nam
15/03 Việt Nam's rice exports to Senegal remain low compared to demand
15/03 Northern power corp’s output up 12.02 per cent
Older News
09/03 Hà Nội develops policies to lure foreign investment
09/03 State revenue from exports-imports down 19% in first two months
08/03 Export prices of Vietnamese rice up nearly 10 per cent
08/03 PM praises Japan's contributions to Việt Nam's growth
06/03 Vietnam’s overseas investments rise sharply in January-February
06/03 VN exports of shark catfish fall sharply
06/03 Economic institution reform key to breaking through middle-income trap: experts
06/03 Ministry of Industry and Trade calls for stable supply of coal
03/03 HCM City foreign investment surges by 43.1 per cent in first 2 months
01/03 February’s CPI up 0.45 per cent due to fuel and housing price hike
 
Newsletter Signup
Top Stories
Shares sustain gains on strong investor confidence
Banks given advantages to CASA ratio
Man owes bank nearly VNĐ9 billion in credit card's interest after 11 years
VN-Index corrects, liquidity stays high
Stock Market Upgrade Journey: overcoming hurdles and reaching new heights
Market Update
Last updated at 3:05:01 PM
VN-INDEX 1,284.09 -6.09/-0.47%
Real-time chart
Top 5 Actives
Top 5 Gainers
Top 5 Losers
My Favorite Quotes
Your most recently viewed tickers will automatically show up here if you type a ticker in the Get Quotes box on the top of the page.
Company Research
Type in the symbol above for thorough background information, key statistics and financial information.
Stock Sectors
We continuously improve our services, here are the latest updates...
Portfolio
Allow you to monitor a customised group of securities. You can set up multiple Portfolios to help you better manage your investments.
Trigger Alerts
Get up-to-date alerts delivered directly to your email address.
Stock Screener
Allow you to filter the market and find exactly what sort of company you are looking for.
Live Terminal
Get instant access to FREE REAL-TIME streaming quotes for hundreds of stocks from HOSE, HNX and UPCOM exchanges.