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In 2023, 12 product groups exported from Vietnam to China generated USD 1 billion or more. Among them, phones, components, computers and electronic products posted their highest turnover, with more than 10 billion USD. These products contributed greatly to the total value of Vietnamese exports to this market, which amounted to more than USD 62 billion last year, and bilateral trade of nearly USD 172 billion in the same year.
| China is the main outlet for many of Vietnam’s export products. |
| Photo: VNA/CVN |
In the first quarter of 2024, bilateral trade continued to increase, reaching over USD 42 billion, with Vietnamese exports estimated at USD 12.68 billion, an increase of 5.2 percent year-on-year. Growth in exports to China remained a key factor in the country’s trade activities in the first quarter and will likely remain so for the full year.
New requirements
In recent years, bilateral trade has increased continuously. Both sides have opened their markets to many key products, including agricultural products. Currently, Vietnam has 14 agricultural products officially exported to China. However, the Chinese market’s requirements for the quality of imported products are increasing.
Deputy Minister of Agriculture and Rural Development Phùng Duc Tien said his ministry has asked the Plant Protection Department to propose measures to meet the new demands of the Chinese market and others. China is increasingly opening up to many Vietnamese agricultural products. To best exploit this vast market of more than 1.4 billion consumers, it is necessary to standardize agricultural production processes to meet the needs of importers.
Phùng Duc Tiên said the signing of several cooperation agreements, simplification of administrative procedures related to animal and plant inspection will facilitate exports of agricultural products to the Chinese market. “China is a huge market for many high-quality Vietnamese agricultural products. However, to increase agricultural exports, it is necessary to demonstrate to Chinese consumers the exceptional quality of Vietnamese products, as well as our reliability in trade.”, noted Mr. Tiên.
| Vietnamese fruit and vegetable exports to China amounted to USD 3.4 billion in 2023. |
| Photo: VNA/CVN |
Great prospects
Tô Ngoc Son, deputy head of the Asian and African Markets Department under the Ministry of Industry and Trade, said that while China was an important export market for some Vietnamese agricultural products, it was nonetheless a demanding market. To strengthen exports of goods in general, and agricultural products in particular, Mr. Son recommended that companies focus on building and protecting brands, researching and meeting Chinese market standards in terms of quality, testing, inspection, packaging and traceability. It is important for businesses to conduct in-depth research on market needs and development trends.
In addition, the use of the Vietnam – China railway line, the training of a team of competent personnel and the implementation of e-commerce are also necessary to develop this market, he noted.
Exports of Vietnamese vegetables and fruits to China reached 3.4 billion USD last year. Vietnam’s market share in China has almost doubled, from 8% in 2022 to 14% in 2023. Demand for fruits and vegetables is still high and Vietnam is negotiating permission to export other fruits there. In the immediate future, decisions are awaited from the Chinese side concerning frozen durian, avocado and passion fruit.
Recently, the Chinese side announced that it would open its market to many Vietnamese agricultural products, including fresh coconut, frozen fruits, citrus fruits, avocado and custard apple for official export to this country. The Plant Protection Department under the Ministry of Agriculture and Rural Development has completed administrative procedures to request permission from the Chinese side to import frozen Vietnamese durian. If the answer is positive, good export prospects await this product this year.
Thê Linh/CVN
