| Vietnamese businesses slow to change in response to China's new trade policy Rice exports to China skyrocket, businesses rush to collect |
The 18th China International Small and Medium Enterprises Fair (CISMEF 2023) takes place in Guangzhou City, Guangdong Province, China.
This year, the Fair covers an area of about 80,000 square meters with the participation of 1,000 Chinese and international enterprises from over 20 countries and territories: Vietnam, Germany, Greece, Canada, Brazil, Argentina, Ecuador, New Zealand, Malaysia, Thailand, Sri Lanka, Pakistan, Nepal, Iran, Egypt, Chile, Uruguay, United Arab Emirates, Macao, Taiwan...
The Vietnamese pavilion at CISMEF 2023 has an area of 3,000m2, including: Vietnam National Pavilion with the aim of promoting the image, culture, tourism and economic , trade and investment potential of Vietnam; Vietnamese enterprise pavilions with the participation of nearly 100 enterprises with a scale of 120 exhibition booths on an area of over 2,000m2 participating in displaying and introducing products and trade connection activities; Exhibition area promoting the image and typical export products of Vietnam, transaction connection area between Vietnamese enterprises and international enterprises, cultural and artistic performance stage.
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| Vietnamese businesses attend fair in China |
Organizing a Vietnamese business delegation to participate in the large-scale CISMEF 2023 Fair under the National Trade Promotion Program is considered one of the efforts of the Ministry of Industry and Trade to support businesses in restoring production, expanding distribution systems and enhancing export efficiency to the Chinese market, right after the Chinese Government reopened after the Covid-19 pandemic. Thereby, contributing to supporting businesses to promptly grasp market information, update regulations on import goods standards, seek trade promotion opportunities and guide businesses to convert production according to market signals, standardize production processes, product quality and gradually switch to official exports when exploiting the Chinese market.
Within the framework of the Fair, the Vietnamese delegation will carry out the following main activities: Organizing the opening ceremony of the booth under the chairmanship of the leaders of the Ministry of Industry and Trade of Vietnam, the leaders of the Ministry of Industry and Information Technology of China and the People's Government of Guangdong Province, China; Attending the 2nd High-level Forum on International Cooperation of Small and Medium Enterprises; Organizing the Vietnam - China Investment and Trade Promotion Conference; Performing cultural and artistic activities to promote the image of Vietnam to many international friends.
With a population of nearly 1.5 billion people, China is a large market with high and diverse demand for goods. Since this market reopened, not only Vietnam but also many other countries in the world have increased exports to China.
Over the years, Vietnam and China have always been important bilateral trade partners, with the two countries having a long-standing cooperative relationship. As soon as the Chinese market adjusted its measures to prevent the Covid-19 epidemic, many Vietnamese export industries immediately made their mark. Vietnamese enterprises actively boosted production to meet export orders signed with Chinese partners.
According to the Ministry of Industry and Trade, in the first 5 months of 2023, Vietnam's export turnover to China reached 19.8 billion USD. On the contrary, Vietnam's import turnover from China reached 42.4 billion USD. In the current context, we can determine that China will continue to be a potential destination for Vietnam's exports due to its advantages in geographical proximity, lower logistics costs than other markets, increasing market demand, many advantages from bilateral cooperation agreements between Vietnam and China, as well as multilateral agreements that Vietnam and China participate in (such as the ASEAN-China Free Trade Agreement (ACFTA), the Regional Comprehensive Economic Partnership Agreement (RCEP).
Guangzhou is China's southern gateway to the world, the central city of the Guangdong-Hong Kong-Macao Greater Bay Area, the Pearl River Delta economic zone and the central city of the Belt and Road Initiative. It is China's largest foreign trade city with a wide range of trade activities, and is also a comprehensive international transportation hub with the role of a transshipment hub for imported goods and domestic markets. With the above advantages, participating in the CISMEF 2023 will bring practical and effective opportunities for Vietnamese enterprises, a good opportunity for Vietnamese goods to penetrate deeper and expand further in the Chinese market.
| Immediately after organizing the Vietnamese business delegation to participate in the CISMEF 2023 Fair, from July 27 to 31, 2023, the Trade Promotion Agency continued to organize the Vietnam - Laos Trade Fair 2023 (VIETLAOEXPO 2023) at the International Exhibition and Convention Center (Lao-Itecc), Vientiane, Laos. The fair has a scale of 250 standard booths, of which the Vietnam Pavilion has about 120 booths of businesses and units displaying and introducing products and services: Agricultural and aquatic products and processed foods, garments - fashion, electricity - electronics and household appliances, industrial machinery and equipment, construction and building materials, wooden furniture and handicrafts, consumer goods, pharmaceuticals and medical equipment, trade services, investment ... |
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