After enduring a period of stagnation, China is purchasing additional rice from the Vietnamese market, with several local enterprises continuously negotiating new export contracts, according to industry insiders.

India’s primary producers always claim the dumping of sub-standard Chinese goods into local markets at competitive prices, which in turn takes away the market share of high-quality raw materials from domestic producers and pulls down the quality of final products in circulation. Polyvinyl chloride (PVC) is one such product that has seen a sharp increase in imports into India from China during the financial year 2022-23.

Huge potential exists for cooperation between the two countries.

April witnessed Vietnam export fertilizers to nine markets, with six ASEAN member states alone consuming 66,648 tonnes, or 50.5% of the country's overall fertilizer export market share.

The Regional Comprehensive Economic Partnership (RCEP) agreement has played an important role in promoting Cambodia-made products and contributed to attracting new foreign investment, said officials and business leaders.

Vietnam earned US$ 1.1 billion from exporting plywood in the first 11 months of 2022, securing the fifth place in the world’s top five largest plywood exporters, according to the International Trade Center (ITC).

With Vietnamese goods making up only 2.7% and 3.3% in Japan and the Republic of Korea, respectively, there remains a wealth of opportunities open for Vietnamese exports to enter these promising markets, according to the Ministry of Industry and Trade (MoIT).

Over many past years, China has always been Vietnam's largest trading partner and second - largest export market, following the US. Vietnam and China share borders both on land and at sea, as well as many similarities in cultural traditions, consumption habits and long-standing economic-commercial relations.

Intellectual property (IP) protection of online exports has become increasingly important for Vietnamese businesses as the country has entered a new stage of cross-border e-commerce, experts said.

Exports of Australian goods to China hit $12.71bn in March, up nearly one-third from year earlier.