26 agreements worth US$720 million were signed between Vietnamese businesses and those from China’s Guangdong province.
Speaking at the forum, Deputy Prime Minister Pham Gia Khiem emphasised that the forum provides a good chance for businesses from the two countries to introduce their potential and business demands in the implementation of co-operative projects and to boost comprehensive economic co-operation between Vietnam and China in general and between Vietnam and Guangdong province in particular.
Guangdong Governor Huang Huahua said that trade and investment co-operation between Vietnam and Guangdong has made positive progress in recent years. Average import-export growth from 2006 to 2008 amounted to 44.2 percent while two-way trade turnover in 2008 reached US$3.36 billion, accounting for one sixth of the two countries’ total trade value.
Despite impact of the global economic crisis, two-way trade between Vietnam and Guangdong in the first eight months of this year was estimated at US$2.67 billion, representing a year-on-year increase of 25.6 percent. Currently, Guangdong has 44 businesses and representative offices operating in Vietnam with a total investment capitalisation of US$560 million. Construction of the Shenzhen-Hai Phong Trade and Economic Co-operation Zone worth US$4 billion has started.
Mr Huang affirmed that Guangdong will work with Vietnam to build a comprehensive trade co-operation dialogue mechanism for intensive investment in trade, tourism and agriculture. The forum aims to strengthen economic and trade co-operative relations between Vietnam and Guangdong, tighten ties between the two countries State management agencies and businesses, expand the exchange information network, discuss measures to boost co-operation under framework of the China-ASEAN Free Trade Area and Pan Tonkin Gulf Economic Co-operation, and cope with the financial crisis, Mr Huang said.