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Lao Cai gate key to cross-border trade with China

HANOI - New measures to boost cross-border trade, including the opening of the open the Lao Cai International Border Gate, have already brought about impressive results in Vietnam's northern province.

More than US$70 million worth of transactions and almost 20 economic deals were struck between Vietnamese and Chinese companies during a trade fair held in Yunnan province's town of Hekou in China late last month.

In an effort to boost border trade, the Lao Cai authorities last July decided to open the Lao Cai International Border Gate 24 hours a day for trains and from 7am to 10pm for ground transportation.

In addition, both sides have agreed to simplify their customs procedures and have signed an agreement to let trucks from the two sides enter deeper into their territories.

"The open policy of the Lao Cai authorities has helped us seek and establish our distribution agents in Lao Cai province and in the port city of Hai Phong," said a conference participant, Chinese entrepreneur Hong Changqing. "Hopefully, in the future we will be able to expand our business to other provinces and cities in southern Vietnam." The Lao Cai authorities have also agreed to grant 30-day multi-entry visas for Chinese trucks and pledged to provide Chinese businessmen with preferential policies.

It is estimated that about 400 trucks go through the Lao Cai border gate every day.

The Vietnamese exports going through the gate include iron ore, copper ore, wood and agricultural produce such as watermelons, thanh long (dragon fruit), rambuttan and rice. According to contracts signed by entrepreneurs of the two countries, 17,200 tonnes of Vietnamese rice will go through the Lao Cai border gate this year.

Seventy different types of Chinese agricultural products pass through the gate. By the middle of this month, Vietnam has imported more than 80 tonnes of goods from China. with potatoes and rice strains making up one-tenth of the volume.

So far this year, the export turnover between Lao Cai and the Chinese border province of Yunnan has reached $300 million.

(Asia Pulse/VNA)

Dec 24, 2004

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