Transnational road freight opens up opportunities
Cross-border agreement allows Chinese, Vietnamese trucks to operate in both countries for first time
Freight vehicles from either side of the China-Vietnam border were allowed to cross for the first time on May 14, enabling drivers from both sides to deliver deeper and more efficiently into both countries. Previously, all freight goods needing to cross the China-Vietnam border by road had to be unloaded and reloaded onto trucks operating on the other side.
The milestone in cross-border connectivity is due to years of negotiation and organization by the Greater Mekong Subregion development program, resulting in the Cross-Border Transport Facilitation Agreement (CBTA).
The agreement, initially proposed in 1999, aims to streamline the movement of people and goods across six countries: China, Vietnam, Laos, Cambodia, Thailand and Myanmar, boosting regional connectivity.
The first trial run of the cross-border transport facilitation agreement took place last year involving China, Cambodia, Laos and Thailand.
It's estimated that the loosening of borders for goods transport in the Greater Mekong Subregion, for China, in Yunnan province and the Guangxi Zhuang autonomous region specifically, will bring huge economic benefits.
Last year, bilateral trade between China and Vietnam surpassed $260 billion, with China maintaining its position as Vietnam's largest trade partner for the 20th consecutive year.
