Vietnamese and Chinese firms sign joint deals worth $1.6 billion
Vietnamese and Chinese firms across a range of sectors have signed deals for 22 cooperative ventures valued at $1.6 billion.
At the same time, Vietnam's Chamber of Commerce and Industry (VCCI) signed a cooperative deal specifically with China’s main footwear manufacturing province, Guangdong.
At a conference held in Hanoi on September 9, Vietnam's deputy prime minister and minister of foreign affairs, Pham Gia Khiem, said Vietnam wanted to strengthen ties with Guangdong and boost trade with the southern province.
This development comes on the back of anecdotal evidence that many footwear firms based in Guangdong are now looking to Vietnam as an alternative manufacturing platform or as the best place for them to carry out expansion plans.
Across the board, Vietnam-China trade exceeded $15 billion in 2007, Mr Khiem said, with footwear one of the most prominent categories coming into Vietnam from its neighbour, along with electronic products, while China's main imports from Vietnam are farm products, coal, and rubber.
