👀 Ones to watch: The MOST undervalued stocks to buy right nowSee Undervalued Stocks

Vietnam urges China to urgently reopen border gates as trade stalls

Published 01/01/2022, 11:54 PM
Updated 01/02/2022, 03:50 AM
© Reuters. FILE PHOTO: A man raises a Chinese flag (R) next to a Vietnamese flag before a meeting between China's Foreign Minister Wang Yi and Vietnam's Deputy Prime Minister and Foreign Minister Pham Binh Minh at the Government Office in Hanoi, Vietnam November 2,

HANOI (Reuters) - Vietnam's trade ministry asked China's Guangxi authorities to take urgent measures to ease congestion at border crossings after China stepped up its border controls with neighbours to follow zero COVID-19 policies, state media reported.

Pictures and video footage from state-run Vietnam News Agency (VNA) showed thousands of trucks were held up at the border following reports that imported COVID-19 cases had been detected in Guangxi province.

"Anti-virus prevention measures that Guangxi is applying under the 'zero COVID' policies, including closing border gates or stopping fruit imports, are over necessary," VNA reported, citing a trade ministry statement.

"This disruption has caused negative impact on bilateral trade and great losses to businesses and people on both sides."

Guangxi trade officials in response said they would increase the duration of customs clearance and pass along other proposals to higher authorities, according to the report.

© Reuters. FILE PHOTO: A man raises a Chinese flag (R) next to a Vietnamese flag before a meeting between China's Foreign Minister Wang Yi and Vietnam's Deputy Prime Minister and Foreign Minister Pham Binh Minh at the Government Office in Hanoi, Vietnam November 2, 2017. REUTERS/Kham

China is Vietnam's largest trading partner, and the biggest market for its fruit and vegetables.

Trade turnover of agriculture products between the two countries in the first 11 months of 2021 rose 19.5% against the same period last year to $11.3 billion, official data showed.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.