Vietnam will actively take part in the upcoming China-ASEAN trade fair, considering it a great opportunity for its enterprises to expand export markets and lure more investment.

The government has offered financial assistance to local businesses at the fair to be held for the first time in the Chinese province of Guangxi in November, and established a national steering committee in charge of Vietnam's participation in the annual event, said Vietnam's Trade Promotion Department under the Ministry of Trade on Monday.

The government will cover all booth rentals and half of other costs such as airfares and accommodations, so that local enterprises can showcase their products, especially processed seafood and farm produces, at 80 booths easily.

At the fair, the ministry will held a business forum for local companies to have direct talks with potential partners from China and other members of the Association of Southeast Asian Nations (ASEAN). It will also conduct a survey on awareness of foreigners of Vietnamese goods in the Chinese and ASEAN markets.

For a further vision, Vietnam has set up the national steering committee headed by Trade Minister Truong Dinh Tuyen with memberships from the Ministry of Finance, the Ministry of Planning and Investment, the Vietnam National Administration of Tourism and the Vietnam Chamber of Commerce and Industry, the department said.

The economic and trade ties between Vietnam and China have strongly developed over the past few years. The bilateral trade turnover, which reached 4.6 billion US dollars in 2003, is expected to reach 5 billion dollars in 2004.

The two countries have targeted to obtain two-way trade turnover of 10 billion dollars in 2010.

Source: Xinhua