PM Nguyen Xuan Phuc on Monday attended the opening ceremony of Viet Nam’s second trade promotion office in Hangzhou of China’s Zhejiang province. The opening ceremony of Viet Nam’s second trade promotion office in Hangzhou takes place in Shanghai on November 5, 2018 as part of PM Nguyen Xuan Phuc’s tour to China to attend the first China International Import Expo (CIIE) 2018. Photo: VGP The new office is part of the two countries’ efforts to realize the outcomes of Chinese Party General Secretary and President Xi Jinping’s official visit to Viet Nam in November last year. Viet Nam launched first trade promotion office in Chongqing in May 2015 with an aim to boost bilateral trade exchanges. China is Viet Nam’s biggest trade partner with the two-way trade value reaching US$76 billion in the first nine months of 2018, up 18.9% from the previous year but Viet Nam posted a trade deficit of US$18.45 billion. The Northern neighbor poured US$2.17 billion in Viet Nam last year, an increase of 20% against 2016, sending total investment capital to US$12.78 billion, ranking 7th among 129 countries and territories investing in the Southeast Asian country. In terms of tourism, more than 4 million Chinese visited Viet Nam last year, up 48.6% and accounting for over 30% of foreign arrivals to Viet Nam. The figure rose 29.7% to 3.8 million between January and September.
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