Opening of Zhejiang International Trade Exhibition (China)

The 2023 Zhejiang International Trade Fair - the 11th Zhejiang Export Commodities Fair in Vietnam - opened on September 28th at the Hanoi International Exhibition and Convention Center. The event was chaired by the Zhejiang Provincial Department of Commerce (China), and co-organized by Zhejiang Yuanda International Exhibition Co., Ltd. and Vinexad Company.

Khai mạc Triển lãm Thương mại quốc tế Chiết Giang (Trung Quốc)

Opening Ceremony of the 2023 Zhejiang International Trade Exhibition - 11th Zhejiang Export Commodities Fair in Vietnam, held in Hanoi. (Source: Organizing Committee)

The 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Commodities Fair in Vietnam attracted a total of over 50 companies exhibiting in 120 booths, covering a total area of 4,000 square meters. The exhibition was divided into three main display areas, including metal tools and decorative materials; electronic machinery; and textiles, fabrics, and daily consumer goods.

Representatives from the Chinese organizing committee hope that this exhibition will encompass the appeal of the products and technologies of the businesses, as well as the rich history and culture of Zhejiang, thereby helping many Vietnamese businesses gain a deeper understanding of Zhejiang's businesses and products.

According to the Zhejiang Provincial Department of Commerce, located on the southeastern coast – one of the most economically developed regions in China – Zhejiang currently has the largest number of small and medium-sized enterprises and the highest proportion of private enterprises in China.

In particular, Vietnam is an important cooperation partner of Zhejiang in the ASEAN region. On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) agreement, initiated by ASEAN, officially came into effect, strongly promoting exchanges and cooperation between the two sides.

Furthermore, Zhejiang possesses a solid trade foundation, complementary industries, and broad cooperation prospects. By 2022, the total bilateral trade between Zhejiang Province and Vietnam reached US$20.56 billion, a 16.85% increase compared to 2021. Of this, Zhejiang's exports to Vietnam in 2022 totaled US$14.49 billion, a 17.99% increase, and imports from Vietnam totaled US$6.07 billion, a 14.21% increase compared to 2021.

Mr. To Ngoc Son, Deputy Director of the Asia-Africa Market Department ( Ministry of Industry and Trade ), said that the 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Commodities Fair in Vietnam mark the complete restoration of bilateral economic and trade exchanges after a three-year interruption due to the Covid-19 pandemic.

Important visits by high-ranking leaders of both countries will continue to lay a solid foundation for Vietnam-China economic and trade cooperation . However, in the context of the current global and regional economic difficulties and challenges, the foreign trade activities of both Vietnam and China with the world are also significantly affected. Trade turnover between Vietnam and China with the world in the first eight months of 2023 decreased by 12.8% and 6.5% respectively compared to the same period in 2022.

This opportunity helps many Vietnamese businesses gain a deeper understanding of Zhejiang's businesses and products. (Source: Organizing Committee)

Therefore, the 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Commodities Fair in Vietnam create even more opportunities for cooperation between businesses of both sides, contributing to overcoming the negative impacts of the global and regional economy.

Mr. To Ngoc Son affirmed that, in the overall cooperation with China, the Vietnamese Ministry of Industry and Trade highly values the role of Zhejiang Province – an important gateway in eastern China. In 2022, trade turnover between Vietnam and Zhejiang Province ranked fourth among Chinese localities with trade relations with Vietnam and accounted for approximately 10% of the total bilateral trade turnover. Given Zhejiang Province's strengths and economic scale, the potential and need for economic, trade, and industrial cooperation between Vietnam and Zhejiang Province remain very significant.

"In the coming time, with the determination and joint efforts of both sides, the friendly neighborly relations and comprehensive cooperation between the two Parties, two States, and peoples of Vietnam and China will continue to develop in depth, stability, and sustainability, meeting the aspirations and practical interests of both sides and the people of both countries, contributing to peace, cooperation, and development in the region and the world," Mr. To Ngoc Son affirmed.

The 2023 Zhejiang International Trade Exhibition and the 11th Zhejiang Export Commodities Fair in Vietnam will run until September 30th.

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