The Chuanshan Port Area of Ningbo-Zhoushan Port. [Photo/cnnb.com.cn]

The economic partnership between Ningbo and Vietnam is thriving. During Vietnamese Deputy Prime Minister Nguyen Chi Dung's economic study visit to Ningbo on March 18, a shipment of recycled fiber valued at approximately 230,000 yuan ($31,790) departed Ningbo-Zhoushan Port for Vietnam. This material will be used as stuffing for furniture and bedding.

Ningbo and Vietnam share strong economic and cultural links, with trade being a cornerstone. In the first two months of 2025, the trade volume between the two regions reached 5.92 billion yuan, a 10.1 percent year-on-year growth. Vietnam accounted for 19 percent of Ningbo's trade with ASEAN countries during this period, with private enterprises contributing significantly.

From 2022 to 2024, bilateral trade grew annually by 10.3 percent, supported by initiatives like the Belt and Road cooperation. Vietnam has strong demand for textile yarns and synthetic materials, and Ningbo's exports of 390 million yuan worth in early 2025 mark a 33.2 percent increase.

For imports, Vietnam's cost-efficient production of natural and synthetic rubber has become essential for Ningbo. Imports of such materials in early 2025 totaled 420 million yuan, while mechanical and electrical products reached 550 million yuan. Through agreements like the China-ASEAN Free Trade Agreement, trade continues to thrive, showing the strength of this partnership.