Vietnam's top leader, General Secretary of the Communist Party of Vietnam Central Committee and President To Lam, began his first international trip since taking office with a three-day visit to China on August 18. This visit underscores the significant emphasis he places on strengthening the ties between the two nations, as highlighted by the Chinese Foreign Ministry.
Economically, this visit marks a strategic move to enhance the robust trade relationship between China and Vietnam. In 2023, bilateral trade soared past $200 billion, with China maintaining its position as Vietnam's largest trading partner and second-largest export market. The streamlined access procedures for Vietnamese agricultural products have further solidified this partnership.
Chinese enterprises are poised to expand their investments in Vietnam, building on the momentum from President Xi Jinping's landmark visit to Vietnam last year. This ongoing collaboration aims to deepen economic and trade cooperation, creating new opportunities for export firms and fostering a stronger consensus on mutual development.
In the first half of this year alone, bilateral trade reached nearly $100 billion. Vietnam remains China's largest trading partner within ASEAN, a testament to the strong economic bonds between the two countries. The agreements forged during Xi's 2023 visit, which focused on long-term cooperation, continue to pave the way for sustained growth.
Key frameworks like the Regional Comprehensive Economic Partnership and the China-ASEAN Free Trade Area, along with events like the China Import and Export Fair in Canton, are pivotal in enhancing market competitiveness and promoting trade growth. To Lam's visit is a pivotal moment for both nations to evaluate these achievements, align their market visions, and provide greater support for local industries and manufacturers.
Reference(s):
High expectations from Vietnamese top leader's historic China visit
cgtn.com
