Vietnam and China seek to bolster agricultural trade amid COVID-19

Minister of Agriculture and Rural Development Nguyen Xuan Cuong joined the Chinese Ambassador to Vietnam at a meeting in Hanoi on April 16 to explore ways to boost co-operation in agricultural development and the mutual trade of farm produce in the face of the growing economic impact of the COVID-19 epidemic.

Vietnam and China discuss a range of measures to promote trade in agro-forestry-fishery products

The main topic under discussion during the meeting was ways in which to open up more markets for agro-forestry-fishery products, along with how to boost cross-border trade. This involved proposing the compilation of a list of exporters who will be given an exemption from inspections in order to reduce the time it takes for their products to pass through the border gate.

Both sides will agree on a number of goods from designated firms and recognise the respective quarantine results of each other without the need to place Vietnamese export goods into quarantine.

The two countries will look to co-ordinate the operating of a "priority flow" with regard to customs clearance. Therefore the time that agricultural products of both parties can cross the border will be extended with the new hours being from 7am to 10 pm (Hanoi time) via the Kim Thanh international border gates on Road No. 2 from the northern province of Lao Cai to Bac Son in Hanoi.

The trade of agro-forestry-fishery products between both nations have undergone a series of positive developments in recent years. However, since the start of the year the impact of the COVID-19 has served to cause an annual 6.9%, equivalent to US$2.21 billion, drop in the total import-export turnover of these items, including US$1.65 billion from exports, and US$561.7 million from imports.