China and Vietnam confirmed on Thursday that a consulate general for the Southeast Asian nation will be set up in Chongqing as part of efforts by both countries to boost investment opportunities and cultural exchanges.
Following the announcement, a large business and media delegation, led by Vietnamese Prime Minister Pham Minh Chinh, visited Chongqing on Friday to promote exchanges in trade and tourism.
As a major manufacturing and international logistics hub on the upper reaches of the Yangtze River, Chongqing boasts key geographic advantages. The city is a strategic point for national development programs in western regions and serves as a bridge between China and nations involved in the Belt and Road Initiative and the Yangtze River Economic Belt.
"Chongqing has a deep history of close exchanges with Vietnam," said Chongqing Mayor Hu Henghua during an event focused on strengthening business, trade and logistics cooperation between the city and the country. "In recent years, a number of major Chongqing enterprises have invested in Vietnam, and our automobiles, motorcycles and electronic products have entered the Vietnamese market."
The event drew almost 300 government officials and business representatives from both countries.
Hu added that Chongqing will further strengthen economic and trade exchanges with Vietnam and deepen cooperation in new energy vehicles, electronic information, and food and agricultural products processing.
During his speech at the event, Vietnamese Prime Minister Chinh said, "Our trip to Chongqing presents a crucial opportunity to deepen economic and trade cooperation between Vietnam and China."
He also noted China's status as Vietnam's primary trading partner and underscored his country's drive to make Chongqing a significant focus of collaboration efforts.
"Strengthening cooperation between the enterprises of the two countries will not only bring benefits to the enterprises, but also bring more benefits to the people of both countries," the prime minister said.
He added that Vietnam is currently building smart ports and logistics infrastructure to improve the investment environment.
During the meeting, a signing ceremony for seven memorandums of cooperation was held, covering sectors such as economy, trade, logistics, energy, agriculture and telecommunications.
On Friday afternoon, a reception ceremony was held for a freight train from Vietnam via the China-Vietnam Railway at Chongqing Tuanjiecun Station. The train consisted of 26 standard containers filled with Vietnamese products such as control panels, coil drums and plastic toys. The total value of the cargo was nearly 90 million yuan ($12.58 million).
As of Oct 30, the China-Vietnam freight trains passing through Chongqing have made 132 trips, carrying a combined total of 4,224 standard containers with a cargo value just north of 1 billion yuan.
In recent years, the New International Land-Sea Trade Corridor, the operational hub of which is based in Chongqing, has strengthened economic and trade ties between western Chinese provinces and Southeast Asian countries.
The freight volume and the value of containers via the trade corridor have increased by 48.6 percent and 108 percent, respectively, indicating a positive trend in cooperation between the two regions.
"The efficient and convenient logistics modes have narrowed the distance between Chongqing and Vietnamese cities, and promoted communication among the two peoples. We are expecting a promising future," said Liu Taiping, president of New Land-Sea Corridor Operation Co.
Dang Ngoc Hoa, chairman of Vietnam Airlines, said in Chongqing that over the past 30 years, Vietnam Airlines has been increasing the number of routes from Vietnam to China. Currently, 66 flights are made between the two nations each week.
"We are considering opening a new route to Chongqing as well," he said.
For the past five years, Vietnam has remained Chongqing's largest trading partner among Southeast Asian countries. In the first three quarters of this year, the trade volume between Chongqing and Vietnam reached 27.42 billion yuan, with Chongqing's actual investment in Vietnam amounting to 194 million yuan, a 32.7 percent increase.
On Thursday, Premier Li Qiang met with the leaders of Cambodia, Laos, Myanmar, Thailand and Vietnam during the eighth Greater Mekong Subregion Summit in Kunming, Yunnan province.
Li called for greater unity and coordination among gathered countries to further promote pragmatic cooperation in various fields, achieve shared growth and contribute to regional and global peace, development and prosperity.
Vietnam currently has an embassy in Beijing and four consulates — in Shanghai, Kunming, Nanning in the Guangxi Zhuang autonomous region and Guangzhou in Guangdong province.
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