14/11/2015 11:00 GMT+7 Email Print Like 0

Lao Cai, China’s Yunnan province bolster trade partnership

Lao Cai, November 13 (VNA) – The northern province of Lao Cai and the neighbouring Chinese province of Yunnan have agreed to focus on fostering trade ties by continuing Lao Cai-Hekou border trade and speeding up the building of a cross-border economic cooperation zone.

The localities will continue increasing collaboration in transport, tourism, culture and quarantine, as agreed during economic and trade cooperation talks in Lao Cai on November 13, which was held within the framework of the 15th Vietnam-China International Trade Fair.

Last year, Lao Cai’s import-export revenue with Yunnan reached 1 billion USD. In the first 10 months of this year, the figure hit nearly 1 billion USD.

The sides also organised a number of conferences, including those to promote the trading of agricultural and aquatic products and handicrafts, while focusing on speeding up administrative reform in customs and e-customs applications.

Currently, Lao Cai is hosting 13 China-funded FDI projects, including the 220kV Hekou-Lao Cai power transmission project, Seng Chung Ho hydropower plant and the Lao Cai iron and steel factory.

The localities will also continue promoting each others’ tourism products with high-quality tours and destinations.

They also signed a Memorandum of Understanding on the building of the Lao Cai-Yunnan cross-border economic cooperation zone, defining their partnership principles, as well as the planning and trade sectors in the zone.

During the talks, Do Truong Giang, Head of the Lao Cai Industry and Trade Department, and local officials answered questions from Yunnan enterprises on storage and transport fees at the Lao Cai border gate.
VNA/VNP