The first business forum between Vietnam and China has been held last Wednesday whereby an agreement on the development of small and medium sized- enterprises was signed between the Vietnam Planning and Investment Ministry and the State Development and Reform Commission of China. 

What is interesting is that at the forum, Vietnamese Deputy Prime Minister Nguyen Sinh Hung expressed hope that Vietnamese and Chinese businesses would further contribute to the economic development in both nations. 

• China has emerged as a key market and the third largest importer of Vietnam, according to China’s Ambassador to Vietnam, Hu Qianwen. 

• Bilateral trade between Vietnam and China grew 19 percent year-on-year in the first eight months of this year, topping $6.22 billion, the Chinese customs agencies’ statistics showed. 

• China is also a significant foreign investor in Vietnam with 28 new projects worth $49 million in the first eight months of the year. To date, China has a total of 382 projects in Vietnam, capitalized at $805 million.  

• With positive forecasts and ongoing activities the two countries can reach $15 billion in bilateral trade in the coming years, said  Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI) and adding that the target could be achievable. 

The Vietnam-China Business Forum, set up by VCCI, the National Development and Reform Commission of China and the Chinese Embassy in Vietnam, will have a co-chairman from each country. 

The forum plans to hold annual meetings in Vietnam or China on the occasion of either Vietnam’s National Day (September 2) or China’s National Day (October 1). 

(Source: ThanhNiennews.com (28/9/06) 

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