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Guangxi deepens trade, investments with Vietnam under RCEP


Updated: 2022-11-24

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The Vietnam section of the RCEP Trade and Investment Exchange Meeting was held on Nov 23, gathering representatives of economic and trade departments, experts, scholars, as well as entrepreneurs from Vietnam and China both online and on-site.

The import and export volume between Guangxi and Vietnam in the first 10 months of 2022 reached 146.98 billion yuan ($2.06 billion), accounting for 28.7 percent of Guangxi's foreign trade volume in this period. Moreover, Guangxi's import volume of Vietnamese agricultural products surged by 63 percent in the Jan-Oct period. 

Wei Ran, chairman of the China Council for the Promotion of International Trade Guangxi Committee, said that Vietnam has been Guangxi's largest trade partner for years.

He also expressed hope that enterprises in Guangxi and Vietnam could grasp development opportunities brought by the RCEP to increase the trade and investment cooperation level between both sides, injecting more vitality into the regional economic revival.

Do Nam Trung, the consul general of Vietnam in Nanning, said that Vietnam has been well prepared for the implementation of the RCEP and will carry out deep reform in law and economy. It will also make full use of Guangxi's opening-up platforms to extend its industry, supply, and value chains. 

In addition, a batch of projects worth $27 million yuan was signed that day.