February 08, 2010

Vietnam-Guangxi To Expand Trade Zone

The ASEAN-China free trade agreement became effective January 1. Already China has displaced the USA as ASEAN's number 3 partner (after Japan and EU). Vietnam is not expected to acceed to the new ASEAN-China free trade agreement until 2015, buying time for the country to prepare for more open competition. Paving the way may be an expanded trade zone straddling the border towns of Mong Cai in Vietnam and Dongxing in Guangxi Zhuang Autonomous Region that has a sizeable Vietnamese population.

Vietnam has approved the arrangement and the government of Guangxi is seeking Beijing's go ahead. The new trade area will include infrastructure building including a new bridge over the Beilun River that separates the cities. There were around 5 million border crossings and over $4 billion (US dollars) in cross border trade in 2008.....

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