The event, part of the 2019 National Trade Promotion Program, is being organized by the Trade Promotion Agency under the Ministry of Industry and Trade (MoIT), the Lao Cai Department of Industry and Trade, and the trade authorities of Honghe prefecture of China’s Yunnan province.

Speaking at the opening ceremony, Vice Chairman of the Lao Cai People’s Committee Le Ngoc Hung stressed that the Lao Cai and China’s Yunnan province have nurtured a traditional friendship. The two localities have over the years joined hands to foster socio-economic development.

Export-import revenues through Lao Cai - Hekou border gates report an average growth of nearly 20 percent per year, while the flow of tourist through their border gates rises over 21 percent annually, he noted.

Visitors at the fair

The bilateral cooperation in agriculture, education, health care, culture, sports and crime prevention recorded fruitful results, Hung added.

With more than 800 booths set up by Vietnamese and Chinese businesses, and those from Thailand and the Republic of Korea, the fair introduces a wide range of farm produce, seafood, building materials and handicrafts.

The annual event is held by Vietnam’s Lao Cai province and China’s Yunnan province on the rotary basis, aiming to promote trade between investors from the two countries and others.

It offers a chance for participating businesses to promote their products and seek opportunities to expand the markets.

Within the framework of the five-day event, there will be a seminar on economic and trade cooperation between Lao Cai and Yunnan provinces, and the signing of contracts between Vietnamese and Chinese enterprises. As many as 24 businesses of the two sides have registered to ink contracts worth more than USD 300 million.

On the occasion, a Chinese delegation will pay fact-finding trips to industrial establishments, border gate economic zones and tourist destinations of Lao Cai.

Vietnam has seven provinces bordering China, namely Lang Son, Quang Ninh, Ha Giang, Lai Chau, Lao Cai, Cao Bang and Dien Bien.

Source: VNA