Twenty contracts worth nearly US$200 million will be signed between Vietnamese and Chinese businesses at a seminar on trade exchange and investment promotion in the northern province of Lao Cai on November 12.

The event, part of the Vietnam-China International Trade Fair 2011, was co-organised by Vietnam’s Ministry of Industry and Trade, and the authorities of China's Yunnan province.

It offered a good opportunity for both Vietnamese and Chinese businesses to discuss issues related to investment, travel, tourism, farm produce, seafood, chemicals and fertilizers, as well as polices for attracting investment in Lao Cai province.

A Chinese representative said that over the past ten years, Chinese businesses have participated in the event to promote their products and share their business experiences.

The annual event has contributed to increasing the total import-export turnover through the Lao Cai international border gate by 22 percent and has helped Vietnamese businesses penetrate markets in Yunnan and other provinces in southwestern China. (Source: VOV)