Despite robust development in their trade ties, the two mountainous localities have not capitalized on their immense potential, making trade revenue lagging behind expectations.
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Businesses from Ha Giang province and China's Wenshan sign cooperation at a business connectivity forum held on March 24. (Photo: hagiangtv.vn) |
Connecting exporters and importers of both sides is the key to bolster the trade turnover, experts said, stating the organization of business networking forums provides them an opportunity to share information regarding market, demand, quality standards, and technical requirements for products.
Permanent Vice Chairman of the Ha Giang province People’s Committee Hoang Gia Long laid stress on the significance of supporting mechanisms for enterprises such as tax and customs incentives, which help them save costs and reduce risks. He also called on competent agencies to join hands, promote cooperation, and create favorable conditions for businesses of both sides to seek partners and expand markets.
One significant hurdle has been the underutilization of border checkpoints and border markets. While major crossings like the Thanh Thuy international border gate and the Xin Man national border gate continue to operate effectively, numerous auxiliary border gates and border markets remain untapped. Reviving these traditional trading points could substantially reduce transportation costs and stimulate bilateral trade.
The two administrations should also work to improve infrastructure, better customs clearance capacity, and ensure safety during goods exchanges.
Agricultural products remain the cornerstone of trade between Ha Giang and Wenshan. However, Ha Giang's agricultural exports currently struggle to meet the stringent technical standards of the Chinese market.
Vietnamese Consul General in Yunnan province’s Kunming city Hoang Minh Son highlighted the potential for technology and agricultural cooperation. By creating links between Yunnan's science and technology enterprises and Ha Giang's agricultural businesses, both sides can enhance productivity and product quality while increasing export revenue.
Ha Giang, a mountainous province located at Vietnam's northernmost border, boasts unique products like Shan Tuyet tea, honey, and rare medicinal herbs. By focusing on quality, packaging, and market access strategies, these products could gain broader presence in Chinese markets. The province is targeting 500 million USD in cross-border trade this year.
In 2024, the province trade revenue already demonstrated promising growth, reaching 308 million USD, up 5.1% from 2023.
Source: VNA