China, Viet Nam to expand economic and trade cooperation

By AJP Posted : October 14, 2024, 10:24 Updated : October 14, 2024, 10:24
Chinese Premier Li Qiang (right) shakes hands with To Lam, General Secretary of the Communist Party of Viet Nam Central Committee, in Hanoi, Viet Nam on Oct. 12, 2024. Xinhua-Yonhap
SEOUL, October 14 (AJP) - China is prepared to promote high-quality and high-level cooperation across various fields with Viet Nam and is willing to continue expanding economic and trade cooperation, said Chinese Premier Li Qiang during his three-day official visit to Viet Nam, according to Xinhua News Agency on Sunday.

In his meeting with To Lam, general secretary of the Communist Party of Viet Nam Central Committee and Vietnamese president on Saturday, Li conveyed the cordial greetings of Xi Jinping, general secretary of the Communist Party of China Central Committee and Chinese president.

He noted that in August, the top leaders of both parties and countries held a meeting in Beijing and made a strategic plan for building a China-Viet Nam community with a shared future. This plan charts the course for the development of bilateral relations.

With the political guidance of top leaders from both nations, frequent high-level interactions have deepened political trust, promoting the long-term, stable, and healthy development of bilateral relations. These efforts are pushing relations to a higher level and will also inject greater momentum into economic, social, and civil exchanges and cooperation between the two nations, according to observers..

Li emphasized that China is ready to strengthen the six key areas of cooperation: greater political mutual trust, more substantive security cooperation, deeper practical cooperation, a more solid popular foundation, closer multilateral coordination and collaboration, and better management of differences, Xinhua reported.

Li expressed hope that both sides will promote the "hard connectivity" of railway, expressway, and port infrastructure, alongside the "soft connectivity" of smart customs. This would provide solid support for improving trade and investment facilitation and ensuring the stability and smooth flow of industrial and supply chains.

Li also said that China is willing to actively explore pilot projects for cross-border economic cooperation zones, expand cooperation in emerging fields such as information technology, new energy, digital economy, and important minerals, and deepen cultural exchanges.

China is ready to engage in cooperation under the three major global initiatives, jointly promote the development of an equal and orderly multipolar world, support universally beneficial and inclusive economic globalization, and maintain and promote prosperity and tranquility in Asia, Li said.

China is Viet Nam's largest trading partner, with bilateral trade exceeding $200 billion for three consecutive years, reaching $145.07 billion from January to July 2024, a year-on-year increase of 20.9 percent, according to China's Ministry of Commerce.

For his part, To Lam asked Li to convey his sincere greetings to Xi and warmly congratulated China on the 75th anniversary of the founding of the People's Republic of China.

The Vietnamese side will continue to follow the path set by the top leaders of both countries, adhere to the six major goals, deepen the comprehensive strategic cooperative partnership with China, and promote the building of a Viet Nam-China community with a shared future that carries strategic significance.

He also reiterated Viet Nam's firm commitment to the one-China principle and its opposition to all forms of "Taiwan independence" separatist activities.

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