Heads of the delegations at the opening ceremony

A high-ranking Vietnamese delegation led by Deputy Prime Minister Ho Duc Phoc attended the China-ASEAN Expo. Cao Bang province's delegation led by Vice Chairman of the Provincial People's Committee Trinh Truong Huy, was present at the Opening Ceremony and activities at the Expo.

Deputy PM Ho Duc Phoc speaks at the opening ceremony of the 21st CAEXPO and CABIS

In his remarks, Deputy PM Ho Duc Phoc said that CAEXPO and CABIS have become significant symbols of cooperation between ASEAN and China for the past 20 editions, not only providing business opportunities but also playing a crucial role in promoting friendship and mutual understanding among the people of ASEAN and China. They affirm China’s important role in the global economy and the confidence of the business community in a vast, dynamic Chinese market full of potential and development opportunities, he stated.

Amidst significant structural and growth model changes in the global and regional economy, Phoc highlighted the importance of this year’s expo and summit theme, which aims to advance Version 3.0 of the ASEAN-China Free Trade Agreement (ACFTA) and pursue high-quality growth. This represents a strategic choice for regional economies in the new context and is a contributing factor to promoting peace, stability, and prosperous development in the region and globally, he said.

China has been Vietnam's largest trading partner for many years. Since 2018 the bilateral trade turnover has reached US $100 billion. This is the first market to reach this record number. Vietnam currently has 140 businesses investing in Guangxi with a registered capital of over 186 million USD, focusing on the fields of power construction (26%), transportation projects (24%), general construction projects (24%), industrial construction projects (20%) and other projects (6%).

Vietnam maintains its position as China’s largest trading partner in ASEAN and China’s fifth largest trading partner in the world. Products that Vietnam exports to China include mobile phones, components, electronic equipment, rubber, agricultural products, and seafood. Products that Vietnam imports from the Chinese market include machinery, equipment, raw materials for production in the garment industry, leather shoes, iron and steel, construction materials, etc.

Deputy Prime Minister Ho Duc Phoc visits Lang Son province's exhibition booth

At the CAEXPO 2024, Vietnam is also running a 5,000-square-metre commercial space. Around 120 Vietnamese businesses from 22 provinces/cities are operating nearly 200 booths there, displaying farm produce, processed foods, footwear, household items, textiles, furniture, and handicrafts. The quality and quantity of transactions both increased according to statistical reports of Vietnamese businesses participating in previous EXPOs. The total value of commercial transactions and contract signings and investment and business cooperation agreements at the EXPO reach an average of nearly 65 million USD. At EXPO 2024, Vietnamese businesses have the opportunity to work and trade with more than 55,000 Chinese merchants, large businesses from ASEAN and countries throughout the world.

Vietnamese delegates visit the CHINA-ASEAN Information Harbor

Within the framework of the Fair, the Ministry of Industry and Trade coordinated with the CAEXPO Secretariat and related units to organize a "Trade Conference between Vietnamese and Chinese enterprises" on September 25, 2024 at Nanning International Convention and Exhibition Center. The event is expected to attract the participation of nearly 200 delegates who are representatives of businesses from the two countries and trade promotion organizations.

In addition to participating in common activities, the Cao Bang Provincial Delegation will attend the Congress on China - ASEAN creative collaboration and development of industrial and supply chains (between Bach Sac and Cao Bang) with representatives of Party and State leaders, specialized agencies of Bach Sac city, a number of research institutes, trade associations, and economic groups from China.