Beijing hosts Vietnam-China trade, economic cooperation session hinh anh 1Workers process for-export shrimp. Vietnam and China have effectively cooperated in trading farm produce, including fishery products. (Photo: VNA)
The ninth session of the Vietnam-China trade and economic cooperation committee took place in Beijing on October 20.

Deputy Minister of Industry and Trade Nguyen Cam Tu and Vietnamese Ambassador to China Dang Minh Khoi participated in the event.

The two sides briefed each other on the economic situation in their respective countries and exchanged opinions on how to propel the bilateral economic ties forward.

They acknowledged that since the eighth session, relations between Vietnam and China have seen notable strides. Bilateral trade topped 59 billion USD in 2014; China continues to be one of the biggest trade partners of Vietnam and Vietnam has become the second largest trade partner of China in ASEAN.

According to the General Department of Vietnam Customs, bilateral trade was 49.16 billion USD as of September this year, a year-on-year increase of 16.1 percent.

Both nations agreed to exchange measures to realise the target of 100 billion USD in bilateral trade in 2017 as set by their leaders and gradually address trade deficits from China.

They will continue to effectively carry out the Memorandum of Understanding on cooperating in trading farm produce to promote Vietnamese agricultural and aquatic product exports to China.

They pledged to support businesses to speed up the implementation and ensure the quality of China’s engineering, procurement and construction projects underway in Vietnam as well as its preferential credit packages to build infrastructure and transport projects in the Southeast Asian country.

The two sides concurred to increase coordination between ministries and sectors to weather business hurdles and enhance the comprehensive strategic cooperative partnership between the two countries.-VNA