On April 14, during Chinese President Xi Jinping’s visit to Vietnam, Minister of Commerce of China Wang Wentao and Minister of Industry and Trade of Vietnam Nguyen Hong Dien jointly signed the Memorandum of Understanding between the Ministry of Commerce of the People’s Republic of China and the Ministry of Industry and Trade of the Socialist Republic of Vietnam on Strengthening Industrial and Supply Chain Cooperation (hereinafter referred to as “the MoU”) in the capital city of Hanoi, Vietnam.

According to the MoU, the two sides will give full play to the role of bilateral mechanisms and encourage enterprises of the two countries to strengthen multi-disciplinary industrial and supply chain cooperation through trade, investment and technological cooperation. In recent years, China-Vietnam economic and trade cooperation has been deepening, with industrial and supply chains deeply integrated with each other. The signing of the MoU will push the two countries to work together to build smooth, stable and resilient industrial and supply chains, and further deepen trade and investment cooperation.