HÀ NỘI – China intends to help Việt Nam reduce its trade deficit by importing more goods from Việt Nam and creating favourable conditions for Vietnamese goods in the market, Chinese Minister of Commerce Zhong Shan told President Trần Đại Quang in Hà Nội on Saturday.

Zhong also said the Chinese Government encouraged local businesses to invest in Việt Nam and strengthen partnership with Vietnamese firms in high technology.

On his visit to China last week, Quang stressed his country’s desire for more balanced trade with the world’s second largest economy. Việt Nam’s trade deficit towards China was $25.5 billion in the first 11 months of 2016, a significant decrease since 2014 and 2015’s over $40 billion.

At the reception for Zhong, the President emphasised that Việt Nam attached importance to expanding and improving economic, trade and investment cooperation with China, benefiting the people of both countries. 

Lauding the positive growth of the Việt Nam -China strategic partnership, especially in the economy, trade and investment, he noted that China was Việt Nam’s largest trade partner, while Việt Nam had become China’s largest ASEAN trade partner. 
He said that during his China visit from May 11-15, leaders of the two countries reached understandings  on major measures to strengthen political trust, foster cooperation, and maintain a healthy development of bilateral ties. 
The President praised China’s pledge to create favourable conditions for Việtnamese agro-fishery, food product, electronics and coal exports. 
He suggested that China provide more favourable conditions for the clearance of goods at border gates to boost economic growth and improve living conditions for residents of the border areas of both sides. 
The two countries should urge businesses of both sides to promptly deal with obstacles facing joint projects, he said, adding that both countries should also share ideas on improving production capacity and building cross-border economic zones. 
For his part, Zhong Shan affirmed that China greatly valued the development of ties with Vietnam. He briefed the host on his meeting with Việt Nam’s Minister of Industry and Trade on measures to implement high-level agreements reached by leaders of the two Parties and State. -VNS