Hu Guangzhong, deputy director of the import and Export Department of the Ministry of industry and trade of Vietnam, said that at present, domestic enterprises in Vietnam have not been able to make full use of the China ASEAN Free Trade Area Agreement. Since the early implementation of the FTA agreement in 2004, the promotion effect of the agreement on Vietnam’s exports to China has not really been highlighted. Exports to China have only increased by 2%, while imports have increased by 30%
according to the report, the reason is that Vietnam’s export products are single and the adjustment of export structure is slow. The main export products are agricultural products and raw materials, while other export products have not been greatly improved. On the other hand, the import structure from China is diversified, and the imported products are mainly raw materials. Therefore, more and more steel, daily necessities, cloth, textile raw materials and construction equipment and other products are facing great competitive pressure