Vietnam, China pledge to expand economic cooperation

Updated: 2006-11-18 15:32

Vietnam and China have pledged to further expand economic cooperation in a mutually complementary and win-win way, said a declaration issued jointly by the two countries on Friday.

The two countries will explore fresh growth areas and maintain a rapid growth in bilateral trade volume, which the two sides vow to boost to 15 billion U.S. dollars by 2010, said the declaration issued here during Chinese President Hu Jintao's visit to Vietnam.

Hu has held talks with General Secretary of the Central Committee of the Communist Party of Vietnam Nong Duc Manh, President Nguyen Minh Triet, Prime Minister Nguyen Tan Dung and National Assembly Chairman Nguyen Phu Trong.

In the declaration, Vietnam and China pledge to improve trade structure to achieve a balanced and sustainable growth; support and encourage enterprises from both sides to conduct long-term and mutually beneficial cooperation in infrastructure, industries, energy and human resources; enhance cooperation in regional, trans-regional and international economic mechanisms.

In the declaration, China congratulates Vietnam on its accession to the World Trade Organization (WTO) as it expresses its belief that as a WTO member, Vietnam will make positive contribution to the operation of WTO.

The two sides also signed an accord on expanding and deepening bilateral economic and trade cooperation, which sets the guidelines for economic cooperation between the two countries in the next five to 10 years and pinpoints focus of cooperation.

The joint document also highlighted progress in solving border issues, with Vietnam and China agreeing to complete the demarcation of land borders and the planting of border markers by 2008.

Pledges were also made over cooperation in fishery, environmental protection, sea rescue and other fields in bordering waters of the Beibu Gulf.

In addition, the two countries agreed to abide by the consensus reached by leaders of both sides to maintain negotiation mechanisms for solving the maritime issues and to seek lasting solutions acceptable to both sides through peaceful dialogues.

The two sides also vow to work together to maintain the stability in South China Sea while studying and discussing joint exploitation, according to the declaration.
Vietnam is the first leg of Hu's four-nation tour, which will also take him to Laos, India and Pakistan.

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