Vietnam and China has signed a memorandum of understanding on cooperation in agriculture and fruit sale, expected to facilitate farm produce trading amid difficulties caused by the COVID-19 pandemic.

Tran Quoc Toan, Deputy Director-General of the Import-Export Department, Ministry of Industry of Trade, talks on Vietnam’s decision to gradually eliminate all temporary import and re-export activities through Vietnam-China sub-border gates.

The outbreak of the 2019 novel coronavirus (2019-nCoV) has affected Vietnam’s trade with not only China but also other markets, said Deputy Minister of Industry and Trade Do Thang Hai.

If the 2019 novel coronavirus (2019-nCoV) epidemic lingers, production, trade and State budget revenue will be greatly affected, according to the Ministry of Finance (MoF).

Hundreds of trucks carrying fruits are now stuck at the Vietnam-China border gate of Tan Thanh in Lang Son Province.

Vietnam’s economy has been better off over the last three years with exports growing rapidly.

Since China is Vietnam’s biggest trade partner, the sharp yuan devaluation will affect Vietnam’s imports and exports with China.