Senior Vietnamese Trade Official Expects Booming Sino-Vietnamese Trade

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Last updated at: (Beijing Time) Sunday, August 31, 2003

Senior Vietnamese Trade Official Expects Booming Sino-Vietnamese Trade

A senior trade official of Vietnam attending an international trade fair in Kunming said bilateral trade between China and his country has a bright future.

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A senior trade official of Vietnam attending an international trade fair in Kunming said bilateral trade between China and his country has a bright future.

Do Thang Hai, deputy chief of the trade promotion bureau of Vietnam's trade ministry, said trade between the two countries reached 2.04 billion US dollars in the first half of this year, and the total volume for 2003 would well surpass last year.

Vietnam has since 1999 sent a delegation to the annual Kunming Export Commodities Trade Fair.

The 11th fair opened Tuesday in this capital of southwest China's Yunnan Province.

Vietnam has 60 exhibition booths, the most of the 10 attending countries of Southeast Asian nations, displaying food, beverages, cosmetics, drugs, furniture and rubber, according to Do Thang Hai.

He hoped that his delegation would learn technologies developed by Chinese enterprises and import advanced machines and equipment.

He also noted a big problem that remained an obstacle in bilateral border trade -- payment and settlement dependent on cash-- because banks on both sides usually refused to get involved in board trade transactions for fear of risks.

He said leaders of the two countries knew the severity of the problem and he hoped a consensus would be reached soon to solve the problem.

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