HANOI, VIETNAM - Media OutReach Newswire - 12 December 2023 - China stands as Vietnam's foremost market for agricultural, forestry, and fishery (AFF) exports, poised to continuously facilitate the official export of a broader range of agricultural products to this dynamic market. The forthcoming visit to Vietnam by the Chinese General Secretary and President Xi Jinping is anticipated to bolster the ties between the two nations, with a particular focus on enhancing agricultural trade.Nurturing the special traditional brotherly friendship between Vietnam and China Vietnam and China, as friendly neighbors, share a longstanding traditional relationship. In 2008, the establishment of a comprehensive strategic cooperative partnership marked a significant milestone aimed at expanding, fostering, and deepening the relations between Vietnam and China. This partnership serves the interests of both nations, contributing to peace, stability, and development in the region. Over the years, economic, trade, and investment cooperation between Vietnam and China has grown increasingly robust. Recent times have witnessed regular exchanges and collaboration between high-level leadership delegations from both countries, elevating the comprehensive cooperation between Vietnam and China to new heights. Political trust has been reinforced, catalyzing enhanced cooperation in economy, trade, and investment. Notably, agriculture and rural development consistently garner close attention and direction from the leaders of both Parties, States, and Governments. China has maintained its position as Vietnam's largest trading partner for 20 years, with Vietnam reciprocally holding the title of China's primary trading partner in ASEAN and ranking as China's fourth-largest trading partner globally (following the United States, Japan, and Korea). As per the General Department of Vietnam Customs, the bilateral trade turnover between Vietnam and China is projected to reach USD 175.6 billion in 2022. This comprises Vietnamese exports totaling USD 57.7 billion and imports amounting to USD 117.87 billion. The colossal potential of the Chinese market is underscored by its GDP scale nearing USD 20 trillion, securing its position as the world's second-largest economy, trailing only the United States. Boasting a population 14 times larger than Vietnam's and consistently high GDP growth, Chinese consumers are interested in embracing Vietnam's distinctive agricultural products. Furthermore, China's rich cultural traditions, akin consumption habits to Vietnamese people, and a history of economic and trade relations spanning millennia further strengthen the symbiotic ties. Bilateral cooperation agreements and participation in multilateral accords, such as the ASEAN-China Free Trade Agreement (ACFTA), the Regional Comprehensive Partnership Agreement (RCEP), and potential involvement in the Comprehensive and Trans-Pacific Partnership Agreement (CTPP), underscore the economic and trade relationship between Vietnam and China, aligning with Vietnam's strategic foreign economic policy goals. China's demand for high-quality Vietnamese agricultural products During the China-ASEAN Expo (CAEXPO) and the 20th China-ASEAN Business and Investment Summit (CABIS) held in Nanning City, Guangxi Province, China, in September 2023, discussions between Prime Minister Pham Minh Chinh and Prime Minister Li Qiang, affirmed China's commitment to open its market to Vietnamese goods further. This emphasis particularly extends to high-quality agricultural and aquatic products. The commitment includes expanding market access, enhancing trade efficiency through border gate infrastructure upgrades, aligning policies, establishing smart border gates, and promoting transactions in local currencies. Prime Minister Li Qiang directed relevant Chinese ministries and branches to actively engage in discussions with Vietnam, fostering specific areas of cooperation and collaboratively constructing stable supply and production chains. This commitment was reaffirmed at the 12th Meeting of the Vietnam-China Joint Economic and Trade Committee, convened in November 2023 in Hanoi. Chinese Minister of Commerce Wang Wentao underscored the substantial demand in the Chinese market for high-quality Vietnamese agricultural products, expressing a warm welcome to further collaboration. Looking ahead, the Chinese Ministry of Commerce will persist in coordinating efforts to facilitate opening the Chinese market for Vietnamese agricultural products. With a population exceeding 1.4 billion people and a burgeoning middle class, China stands as a significant market for a myriad of high-quality AFF products. Despite this, the current market share of Vietnamese agricultural products remains relatively modest, accounting for...