Vietnam, China inks 10 agreements to foster relations
The agreements aim to strengthen activities between Vietnam and China across the board.
Prime Minister Pham Minh Chinh and his Chinese counterpart Li Qiang on October 13 witnessed the signing of 10 documents between ministries and government agencies of the two nations.
| Agreement on building an international standard railway connecting Lao Cai Station and Hekou North Station in China. Photos: VGP |
Of the 10 documents, Vietnam's Ministry of Transport entered into two agreements for the development of international standard railways. These projects will enhance freight transportation between Vietnam's Lao Cai Station and China's Hekou North Station, between Lang Son Province and Hanoi, and between Mong Cai and Ha Long cities in Quang Ninh Province and the northern port city of Haiphong.
The Ministry of Planning and Investment signed two agreements on the maintenance of the Vietnam-China Friendship Palace and on strengthening cooperation in human resources development under the Global Development Initiative.
The Ministry of Industry and Trade inked two agreements with Chinese counterparts to strengthen efforts in developing sustainable agricultural supply chains and to establish a joint working group to study the feasibility of a Vietnam-China cross-border economic zone.
| Prime Minister Pham Minh Chinh (right) and Chinese Premier Li Qiang. |
In addition, the General Departments of Customs of Vietnam and China announced an action plan for mutual recognition of the Authorized Economic Operator Program of Vietnam Customs and the Enterprise Credit Management Program of China Customs.
The other three include a memorandum of understanding between the Vietnam News Agency and China Central Radio and Television, a comprehensive partnership between Vietnam National University - Hanoi and Peking University in China, and an agreement between the National Payment Corporation of Vietnam and China's UnionPay International to develop cross-border payment services via QR code between Vietnam and China.
The agreements and deals were signed between the two government leaders of Vietnam and China had a meeting.
| The meeting of the two governments. |
Earlier this morning (October 13), Prime Minister Chinh hosted an official ceremonial reception for Chinese Premier Li Qiang, who is on a three-day official visit to Vietnam. Li also visited the Mausoleum of President Ho Chi Minh today and paid his respects to the late national leader of Vietnam.
On October 12, the Chinese Premier met with Party General Secretary and President To Lam.
Li’s visit is his first official visit to Vietnam as a Chinese Premier and the first by a Chinese Premier in 11 years. The visit comes as the two countries prepare to celebrate the 75th anniversary of bilateral diplomatic ties in 2025, and follows important visits by their high-level leaders.
The visit is expected to contribute to strengthening the relations between the two Parties and countries in an intensive, practical, and comprehensive way to meet the aspirations and common interests of the peoples of the two countries for peace, cooperation and development in the region and the world.
| Prime Minister Pham Minh Chinh and his Chinese counterpart Li Qiang inspected the guard of honor this morning (October 13). Photo: VGP |
China is Vietnam's largest trading partner and its second-largest export market. Vietnam is China's largest trading partner in ASEAN and China's fifth largest trading partner in the world. The value of bilateral trade between the two economies was US$172 billion in 2023 and nearly US$149 billion in the first nine months of 2024.
Chinese businesses invested a total of $4.5 billion in 700 projects across Vietnam in 2023, making it the fourth largest investor in Vietnam in terms of registered capital and the largest by number of projects. In January-September 2024, China was the second largest foreign investor in Vietnam with a registered capital of $3.2 billion, accounting for 13% of FDI in Vietnam.
