The China (Guangxi)-Vietnam Economic and Trade Exchange Fair was held in Nanning, capital of Guangxi Zhuang autonomous region, on June 7.

The fair aimed to give full play to Guangxi's geographical advantages to boost domestic and international cooperation with Vietnam under the new dual circulation development pattern, in which domestic and overseas markets reinforce each other with the domestic market as the mainstay.

It is expected that the event will also help promote cooperation in economic and trade exchanges as well as investment attraction between countries.

Yang Yanyan, head of the Guangxi Committee of the China Council for the Promotion of International Trade, pointed out that economic and trade cooperation between China and Vietnam in recent years has been deepening. China has been Vietnam's largest trading partner, largest import market and second largest export market for many years.

The total trade volume between Guangxi and Vietnam in 2022 accounted for 70 percent of the total trade volume between Guangxi and ASEAN, making Vietnam Guangxi's largest trading partner for 24 consecutive years.

In the first four months of 2023, the trade volume between Vietnam and Guangxi reached $10.9 billion, a year-on-year increase of 173 percent. This accounted for nearly 90 percent of the total trade volume between Vietnam and China via land ports.

Yang expressed the hope that the two sides will further deepen industrial cooperation in areas such as electronic information technology, the light industry, textiles, new energy, new materials, and food processing. It also aims to maintain a stable and smooth cross-border logistics industry chain and supply chain.

In addition, representatives from Vietnamese enterprises were invited to promote Vietnam's business opportunities during the event.