The United States has recently increased its engagement with Vietnam, aiming to strengthen ties in strategic sectors such as semiconductors and other resources. In September, Washington signed a comprehensive strategic partnership with Hanoi as part of efforts to diversify supply chains.
However, China and Vietnam continue to deepen their longstanding trade and diplomatic relations. On November 25, Chinese Commerce Minister Wang Wentao met with Vietnamese Prime Minister Pham Minh Chinh in Ho Chi Minh City, achieving what was described as “fruitful results.” The two nations are now focusing on strategic areas including the digital economy, green development, and cross-border e-commerce.
China remains Vietnam’s largest trading partner. According to data from Vietnam’s General Department of Customs, bilateral trade between the two countries amounted to $175.57 billion in 2022. The United States was Vietnam’s second-largest trading partner with trade worth $123.86 billion, followed by the Republic of Korea at $86.38 billion, and Japan at $47.61 billion.
Main exports from China to Vietnam include machinery, nuclear reactors and boilers, electrical and electronic equipment, plastics, iron and steel, and knitted fabric. Vietnam’s exports to China primarily consist of cotton, footwear, fruits and nuts, fish, and aquatic products. These robust trade links reflect a strong supply chain between the two countries.
Geographically, China and Vietnam share a 1,297-kilometer terrestrial border, facilitating close economic and cultural ties. In contrast, the distance between Vietnam and the United States is more than 13,000 kilometers, with flights taking at least 16 hours. Despite the geographical challenges, the United States is actively seeking to enhance its presence in Vietnam and the broader Southeast Asian region.
Vietnam is also a significant participant in the China-proposed Belt and Road Initiative (BRI). As Vietnam’s economy continues to grow, there is an increasing need for infrastructure development. The BRI offers opportunities for cost-effective projects in areas such as roads, railways, airports, ports, telecommunications, electricity, and water. According to the Global Infrastructure Outlook, Vietnam’s infrastructure needs are projected to reach $605 billion from 2016 to 2040.
The strengthening of China-Vietnam relations, alongside Vietnam’s engagements with other global partners, underscores the country’s strategic importance in the region. As both nations focus on mutually beneficial cooperation, their partnership is poised to contribute significantly to regional stability and economic growth.
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China-Vietnam relations won't be derailed by U.S. spanner in the works
cgtn.com
