Vietnam enjoys fruitful trade, investment ties with Hong Kong (China)

Cooperation - Investment - PublishedTime : 07:20, 27/11/2022

Vietnam and Hong Kong (China) have enjoyed fruitful trade and investment partnership despite impacts of the COVID-19 pandemic, according to the Vietnamese Trade Office in Hong Kong.

Containers at Hong Kong Port (Photo: AFP/VNA)

Statistics show that two-way trade rose 19% in 2021 to 28.5 billion USD and 24% in the first nine months of this year to over 25 billion US dollars.

Vietnam has been one of the 10 largest trade partners of Hong Kong for many consecutive years, ranking eighth in 2021 and the first nine months of 2022, and second among the ASEAN countries.

As of October, Hong Kong was the fifth largest investors of Vietnam, with 2,133 projects worth nearly 29 billion US dollars.

Vietnamese products have great advantages in Hong Kong thanks to the ASEAN-Hong Kong (China) Free Trade Agreement which took effect from June 11, 2019.

However, Hong Kong is a choosy market, requiring Vietnamese exporters to continuously improve the quality and designs of their products, while ensuring food safety requirements.

VNA