Vietnam seeks to boost trade with Zhejiang

An office to promote trade with Vietnam, the second of its kind in China, was inaugurated in Hangzhou, capital of East China's Zhejiang province, on Nov 5.

With the aim of bolstering trade ties with Zhejiang and jointly facilitating economic and trade exchanges between both sides, the office will serve to assist Vietnamese companies to find partners in Zhejiang, promote exports of Vietnamese goods, and provide information, consulting and other services for Chinese companies operating and investing in Vietnam.

The new office will help boost trade and cooperation between our province and Vietnam, as well as improve ties between our two countries, said Zhu Congjiu, vice-governor of Zhejiang province.

As a member of the Belt and Road Initiative, Vietnam is the largest trading partner of Zhejiang among the ASEAN countries. During the past few years, bilateral ties between the two states have improved significantly.

In 2017, the total trade volume between the two hit $7.93 billion, an increase of 16 percent. By the end of September, 192 Zhejiang companies had invested in Vietnam, with total investment reaching $1.99 billion.

The first Vietnam trade promotion office in China was established in Chongqing city in 2015.