Vietnam and China’s comprehensive strategic cooperative partnership has been enriched further.
Economic and trade cooperation is an important part of the Vietnam-China comprehensive strategic partnership Ten cooperative documents clinched between the two nations during Vietnam President Truong Tan Sang’s three-day head-of-state visit to China last week reflect the warm relationship between the two neighbours.
The cooperative documents include a joint plan of action between the governments of Vietnam and China on implementing the Vietnam-China comprehensive strategic cooperative partnership, a border defence agreement, an agreement between Vietnam’s Ministry of Agriculture and Rural Development (MARD) and China’s Ministry of Agriculture on the establishment of a hot line on unexpected incidences in fishing operations at sea, and a framework agreement between the two governments on China’s provision of preferential credit worth 320 million yuan ($52.2 million) for Vietnam’s railway information system.
The two sides also signed a memorandum of understanding (MoU) between the two governments on establishing a cultural centre in each country, the working statutes of the Vietnam -China joint committee on land border gate management, an agreement between MARD and China ‘s General Administration of Quality Supervision, Inspection and Quarantine on cooperation in the field of animal and plant quarantine in import-export, and a cooperation plan between the Vietnam Union of Friendship Organisation and China’s People’s External Friendship Association in the 2013-2017 period.
The remaining agreements cover preferential buyer’s credit worth $45 million for the Ninh Binh Fine Coal-based Urea Plant project, and the 4th amendment to an agreement between PetroVietnam and China National Offshore Oil Corporation (CNOOC) on the joint exploration in agreed offshore areas in the Gulf of Tonkin.
During the three-day visit, President Truong Tan Sang and Chinese Premier Li Keqiang also reached a consensus on implementing a plan for Vietnam-China economic and trade cooperation development for the 2012-2016 period, further promoting cooperation in agriculture, transport, manufacturing and support industry and building of infrastructure facilities linking the two countries, with the primary focus on a road connecting Pingxiang, Hanoi and Haiphong, and a Hanoi, Lao Cai and Haiphong express railway.
Drastic and effective measures were also reached to create a balanced, healthy and sustainable bilateral trade that matches each side’s benefits. The two sides set the goal of lifting two-way trade to $60 billion ahead of schedule by 2015.
“Both countries consider economic and trade cooperation as an important part of the comprehensive strategic partnership. Potential for economic and trade cooperation between the two countries is huge, and we should exploit advantages of each side together,” Sang said.
Over the past nine years, China has been Vietnam’s biggest trade partner. Bilateral trade turnover has soared from $5.7 billion in 2000 to $41.18 billion last year.
China is also Vietnam’s 13th largest foreign investor with 913 projects worth $4.76 billion.
By Kieu Linh
Đăng ký: VietNam News