Vietnam - Honored Country at the 6th China International Import Expo (CIIE 2023)
On November 5, 2023, in Shanghai, China, the opening ceremony of the 6th China International Import Expo (CIIE 2023) and the 2023 Overseas Chinese International Trade Forum took place.
In 2023, the CIIE, themed 'New Era, Towards the Future' covered an exhibition area of over 300,000 square meters, including a National Pavilion for participating countries and a Commercial Exhibition Area featuring six main sectors: Smart Technology Equipment, Consumer Electronics, Automotive Industry, Accessories and Consumer Goods, Agriculture and Food Products, Medical Equipment, and Healthcare Products. This year, the expo attracted the participation of businesses from 150 countries and territories around the world.
Vietnam participated in CIIE 2023 as an Honored Country. The high-level Vietnamese delegation was led by Deputy Prime Minister Tran Hong Ha, accompanied by leaders from various Ministries, sectors, and Vietnamese provinces.
Participating in this year's expo, the Honored Country Vietnam's national booth covers an area of 256m2, focusing on introducing and promoting information, achievements, and economic potential. It aimed to facilitate investment promotion, trade, and tourism for Vietnam. The booth showcased documents, publications, and exemplary export products from Vietnamese enterprises with well-known brands in the agriculture and processed food sectors.
Adjacent to the national booth is the Commercial Booth Area for Vietnamese enterprises, featuring the participation of nearly 40 businesses displaying specialized products in agriculture and processed food on a 400m2 area. In this edition of CIIE, the Vietnamese business delegation included many companies with strong export capabilities and reputable brands, such as Vinamilk, TH True Milk, Trung Nguyên Coffee, VISIMEX Corporation, Lương Quới Coconut, Bảo Hưng International Joint Stock Company, Bích Chi Food Joint Stock Company, Hung Hau Agricultural Joint Stock Company, and more.
To enhance direct trade promotion activities supporting Vietnamese businesses during the CIIE 2023, alongside organizing exhibitions for Vietnamese enterprises in the Commercial Booth Area, the Ministry of Industry and Trade has assigned the Trade Promotion Agency to host two trade conferences and investment promotion events between Vietnamese and Chinese enterprises. These events will take place in Jiangsu Province on November 7, 2023, and Shanghai on November 9, 2023. It was anticipated that over 100 representatives from businesses in both countries, spanning sectors such as import-export, investment promotion, agriculture, aquaculture, and consumer goods, would participate in each conference.
China has become one of Vietnam's largest partners, not only in terms of scale but also as the structure of trade between the two nations undergoes positive shifts. In the first nine months of 2023, the total import-export turnover between Vietnam and China reached $122 billion, representing an 8.2% decrease compared to the same period in 2022. Vietnam's exports to China reached $42.9 billion, a 3.6% increase compared to the same period in 2022, constituting 16.6% of Vietnam's total exports globally. Meanwhile, Vietnam's imports from China reached $79.2 billion, a 13.5% decrease compared to the same period in 2022, making up 33.4% of Vietnam's total imports from the world. Vietnam's trade surplus with China amounted to $36.3 billion, showing a 27.7% reduction compared to the same period in 2022.
Vietnam and China share many similarities in terms of culture, customs, geographical location, as well as favorable infrastructure, transportation, technical facilities, and policy environments. Therefore, Vietnam's annual participation in the CIIE not only contributes to promoting the national image in terms of economy, investment, and tourism but also provides an excellent opportunity to achieve economic goals. This includes strengthening the major export to the Chinese market, achieving sustainable growth, reducing trade deficits with China, and promoting the brand image of Vietnamese businesses to China and the world. It aims to attract foreign investment and create conditions for Vietnamese enterprises to explore markets and expand their business.
CIIE 2023 will run until November 10, 2023.
As part of the high-level international cooperation forum "Belt and Road" organized in May 2017 in Beijing, China, Chinese President Xi Jinping announced the initiative to organize the China International Import Expo (CIIE), which received enthusiastic support from participating countries, including Vietnam.
The expo, led by the Chinese government, organized by the Ministry of Commerce of China and the Shanghai Municipal People's Government annually in Shanghai since 2018, is considered a significant trade promotion event. It aims to open up the Chinese market to the world, providing opportunities for countries to access China's vast market with over 1.4 billion people. It contributes to promoting the Belt and Road Initiative and the globalization process.
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