At the “Trade Conference between Vietnamese and Chinese Enterprises and the Launch Ceremony of Vietnamese Agricultural Products on Chinese E-commerce and Social Media Platforms” held on the afternoon of November 20, 2024, Mr. Nguyen Minh Tien, Director of the Agricultural Trade Promotion Center, shared that China has always been Vietnam’s largest trading partner. Currently, bilateral trade relations between China and Vietnam are developing positively.
Earlier, following the direction of the Ministry of Agriculture and Rural Development of Vietnam, on June 23, 2023, the Agricultural Trade Promotion Center and the Sunwah Group Hong Kong signed a Letter of Intent for Cooperation. This included cooperation in building and operating a Vietnamese Agricultural Products Pavilion on Chinese e-commerce and social media platforms to promote the consumption of Vietnamese agricultural products and facilitate direct access to the Chinese market.
Up to this point, the collaboration between the Agricultural Trade Promotion Center, the Department of Processing and Market Development, and relevant units organized the Launch Ceremony of the “Vietnamese Agricultural Products Pavilion on Chinese E-commerce and Social Media Platforms” to concretize the spirit and content of the letter of intent. Simultaneously, it supports Vietnamese enterprises in the fields of agriculture, forestry, fisheries, and food in searching for new products, models, and advanced technology from China.
The pavilion will be operated based on a “goods-seeking-people” model through short video and livestream formats. It is expected to help Vietnamese suppliers sell directly to Chinese consumers and establish their brands in the Chinese market.
According to Mr. Nguyen Minh Tien, by the end of the third quarter, Vietnam’s imports from China reached 104.8 billion USD, an increase of 32.2% compared to the same period last year. In the opposite direction, Vietnam’s exports to China reached 44.4 billion USD, a slight increase of 2.94% over the same period last year (equivalent to an additional trade surplus of 1.27 billion USD).
Particularly, on August 19, 2024, the Ministry of Agriculture and Rural Development of Vietnam and the General Administration of Customs of China signed three protocols on exporting frozen durian, fresh coconuts, and crocodiles from Vietnam to the Chinese market. This demonstrates the diversification of Vietnam’s agricultural, forestry, and aquatic export products and continues to resolve obstacles for the export of these products to China.
Sharing at the event, a representative of the Department of E-Commerce and Digital Economy (Ministry of Industry and Trade) stated that in recent years, cross-border e-commerce has become a prominent trend in Vietnam. With the rapid development of information technology and the growing number of online consumers, Vietnam is presented with vast opportunities to expand its global market.
E-commerce platforms not only help enterprises easily access international customers but also create a more equitable competitive environment between domestic and foreign retailers. Especially, the support from free trade agreements (FTAs) and improved logistics infrastructure has facilitated this development, offering bright prospects for Vietnam’s e-commerce in the future.
In 2024, cross-border e-commerce in Vietnam continued to grow strongly due to improved internet infrastructure, government support, and the utilization of free trade agreements. Vietnamese enterprises expanded their exports through international platforms, promoting the development of the digital economy, with over 17 million products. Notably, the number of selling partners increased by 40%, export value grew by 50%, the average number of buyers for Vietnamese products rose by 55%, and the number of Vietnamese products present on the platform increased by 24%.
According to the representative of the Department of E-Commerce and Digital Economy, these figures clearly demonstrate the strong growth trajectory of cross-border e-commerce in Vietnam.
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