residual space for exporting Vietnamese goods to China is very large and the growth rate will be proportional to the momentum of upgrading product quality of domestic enterprises.

Near market, many FTAs

Vietnam’s total durian export turnover in 2023 will reach nearly 2.2 billion USD, of which exports to China alone account for 2.1 billion USD, with an output of nearly 500,000 tons. If we consider the fruit and vegetable industry as a whole, last year, the market of billions of people imported nearly 3.6 billion USD from our country.

The year 2023 will record 12 groups of our country’s exports to China reaching 1 billion USD or more. Among them, the two largest product groups with a turnover of more than 10 billion USD are phones and components (16.87 billion USD); computers, electronic products and components (13 billion USD).

The above items contribute mainly to Vietnam’s export results of more than 62 billion USD to China and nearly 172 billion USD in bilateral trade between the two countries in 2023.

In the first quarter of 2024, bilateral trade between Vietnam and China continues to accelerate, reaching over 42 billion USD. Of which, Vietnam’s exports of goods to China reached 12.68 billion USD, an increase of 5.2%; Imports from China are 29.4 billion USD, up 24.4% over the same period in 2023.

With this result, export growth to China continues to be a bright spot in our country’s trade activities in the first quarter and is expected to be in 2024.

It can be seen that in recent years, two-way trade between Vietnam and China has continuously increased. The two sides increased market opening for many products that have each other’s strengths, especially agricultural products, thanks to which this product group has seen impressive growth.

Chinese Ambassador to Vietnam Hung Ba affirmed that economic, trade and investment cooperation between the two countries always maintains strong development momentum. In 2023, in the context of a complex external environment, the economies of China and Vietnam face many challenges, but still maintain a growth rate of over 5%, which is a very remarkable achievement.

Recently, Vietnam and China have had many bilateral cooperation agreements, as well as multilateral agreements, such as the ASEAN-China Free Trade Agreement (ACFTA), the Regional Comprehensive Economic Partnership Agreement. region (RCEP). Besides, China is also accelerating the progress of joining the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP)… These FTAs promote strong trade growth between Vietnam and China. , thanks to cutting many tax lines on imported and exported goods and facilitating trade.

According to statistics from the Ministry of Industry and Trade, the amount of goods exported under preferential certificates of origin (C/O) (form E and RCEP) granted to Vietnamese goods exported to China ranks first, with a value of over 17 million. billion USD in 2022 and the estimated realized value in 2023 is higher than this figure.

In addition, the close geographical distance and consumption habits of Chinese people have many similarities with Vietnamese people, also creating great advantages for Vietnamese goods exported to this market.

Currently, Vietnam has 14 agricultural products officially exported to China. In the future, this number will be larger when China opens up to many new types of agricultural products such as fresh coconuts, frozen vegetables, citrus fruits… In addition, other products such as oriental medicinal herbs of Neighboring countries also facilitate import of plants, beef, pork, and products from livestock and poultry.

Improve the quality of exported goods

China’s demand for imported goods is constantly increasing. The notable point is that China is no longer an easy-going market, but is increasingly demanding high quality imported goods, from commodity groups in the processing and manufacturing industries to “sensitive” groups. such as agricultural and aquatic products.

But, once the importer is satisfied with the quality, Vietnamese businesses will have many advantages, even when the trade context is not very favorable.

Possessing a closed, large-scale fruit and vegetable production chain, with a processing factory system that meets the highest standards from demanding markets, Dong Giao Food Export Joint Stock Company (Doveco) said, Chinese consumers are as demanding as the EU and the US… Therefore, according to Doveco, Vietnamese businesses need to conquer the Chinese market like other demanding markets.

Accordingly, it is necessary to avoid as much as possible the shipment of agricultural and aquatic products that violate food safety regulations. For example, the fact that 30 shipments of durian were contaminated with the heavy metal cadmium exceeding the limit of food safety regulations was warned by this country’s customs.

The number of 30 lots out of a total of 35,000 – 40,000 durian shipments exported to China has not yet affected the overall export results, but is a warning for Vietnam to proactively review.

Deputy Minister of Agriculture and Rural Development Phung Duc Tien said that the Ministry has assigned the Plant Protection Department to review, consider, thoroughly understand the causes and propose solutions to meet market requirements. China as well as other markets.

China is opening up more widely to many types of agricultural products officially imported from Vietnam. To effectively exploit this billion-people market, the domestic agricultural production industry needs to standardize processes to meet the needs of importers.