Vietnam and China have just signed a Memorandum of Understanding on cooperation in the field of agriculture and fruit consumption, facilitating the exchange of agricultural goods and addressing difficulties caused by the COVID-19 pandemic. The memorandum was signed between the Vietnam Fruit and Vegetable Association and the Guangxi-ASEAN Trade Promotion Association at an online meeting held on August 2 to promote fruit trade between the two countries. Vietnam is currently China's largest trading partner, the second largest importer of Vietnamese goods. Currently, only 9 types of fresh fruits from Vietnam are allowed to be exported to China under official quotas: dragon fruit, watermelon, lychee, longan, banana, mango, jackfruit, rambutan, and mangosteen. The Ministry of Agriculture and Rural Development is still working to expand other types of fruits such as durian, pomelo, passion fruit, avocado, and coconut to be able to export to the Chinese market, which is currently temporarily allowing the import of sweet potatoes and chili peppers from Vietnam. The exchange of agricultural goods between the two countries has developed strongly in recent times. However, due to the impact of the COVID-19 pandemic, bilateral trade in agricultural products in 2020 decreased by more than 4% compared to the previous year to over 14.3 billion USD. Last year, Vietnam exported fruits and vegetables worth up to 1.8 billion USD to China, a decrease of 25.7%. In the first half of 2021, shipments increased by more than 16% compared to the same period, reaching 1.2 billion USD. The potential for trade in the agricultural sector is expected to continue to grow as Vietnam ranks 17th in the world and 2nd in ASEAN in terms of agricultural goods export volume, while China is the top destination for Vietnam's fruits and vegetables, accounting for more than 64% of the total export volume of this sector in 2020. The recently signed memorandum is expected to create opportunities for associations and businesses in Vietnam to cooperate with Chinese partners to develop the production, processing, and trade of agricultural products in the context of increasing challenges caused by the pandemic. Source: Vietnamplus Translator: Trang Linh