A series of key cooperation documents between ministries, sectors and localities of Vietnam and China were signed in Beijing on April 15 in the presence of Party General Secretary and State President To Lam, and his Chinese counterpart Xi Jinping.
The documents include Memorandum of Understandings (MoUs) on establishing a working group to negotiate and promote the construction of a cross-border economic cooperation zone, and a working group on production chain and supply chain cooperation, between the Ministry of Industry and Trade of Vietnam and the Ministry of Commerce of China.
Vietnam and China are stepping up efforts to steer bilateral trade towards a more balanced and sustainable trajectory, with Vietnamese Minister of Industry and Trade Le Manh Hung calling for a restructuring of production, trade, and supply chains alongside stronger investment cooperation.
The two countries target raising bilateral trade turnover to $500 billion in the coming years, which was affirmed by Vietnamese Minister of Industry and Trade Le Manh Hung and Chinese Minister of Commerce Wang Wentao during their talks the same day in Beijing.
The two ministers agreed to establish a joint technical working group to review progress and accelerate the implementation of the high-level consensus, outcomes of the talks, and commitments under the signed agreements.
According to Vietnam Customs, bilateral trade reached $256.5 billion in 2025, up 24.8% year-on-year.
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