Last update: 15:55 | 10/11/2017
The visit is made at the invitation of General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and President Tran Dai Quang. As the first overseas trip by the Chinese top leader after the CPC’s 19th National Congress, the visit is significant to the relationship between Vietnam and China.
It takes place in the context that the bilateral relationship is on an active trend, as reflected through regular meetings between senior leaders of the two countries.
Vietnamese and Chinese leaders have reached important common perceptions on enhancing the comprehensive strategic cooperative partnership between the two countries in a stable and healthy way.
Exchange and cooperation mechanisms between the Parties, Governments and National Assemblies as well as political-social organisations and localities of Vietnam and China have also been rolled out in a larger scale.
Vietnam and China established diplomatic ties on January 18, 1950. China is Vietnam’s biggest trade partner and largest tourism market.
Vietnam has become China’s top trade and tourism partner in the Association of Southeast Asian Nations (ASEAN).
Two-way trade value expanded from 32 million USD in 1991 to 70.5 billion USD in 2016. The figure reached 55.23 billion USD in the first eight months of this year, with Vietnam’s trade deficit with China standing at 17.77 billion USD, down 5.4 percent year-on-year.
Vietnam welcomed 2.7 million Chinese tourists in 2016 and 2.65 million Chinese holiday-makers in January-August, 2017.
As of August 2017, China has invested in 1,727 projects valued at 11.93 billion USD in Vietnam. In the first eight months of this year, China became Vietnam’s fourth largest investor with total registered capital of 1.6 billion USD.
The two countries have also stepped up partnerships in other areas like agriculture, water resources, environment, science-technology, transport, culture, sports, education, health care and people-to-people exchange.
The affiliation between Vietnamese and Chinese localities has been enhanced practically over the past time, with more than 30 pairs of cities and provinces establishing friendship.
After normalising their relations, Vietnam and China signed an agreement on basic principles settling border and territory-related issues and another agreement on basic principles guiding the settlement of sea-related matters in 2011, contributing to orienting the handling of the East Sea issue.
They agreed to continue to implement the Declaration on the Conduct of Parties in the East Sea (DOC) comprehensively and effectively, soon reach a Code of Conduct in the East Sea (COC), manage conflicts at sea, take no actions that complicate and expand the disputes, and maintain peace and stability in the waters.
Vietnam consistently places importance on developing the stable and long-term relationship with China, on the basis of mutual respect, mutual benefit, and equality.
In that context, Xi’s Vietnam visit aims to maintain the exchange of high-level delegations, enhance cooperation between the two Parties and States, intensify strategic exchanges and increase political trust between the two sides.
It is also set to improve the efficiency of cooperation in economy, trade and investment between the two countries and consolidate high-level common perceptions on well managing differences and protecting peace and stability in the East Sea, for peace, stability, cooperation and development in the region and the world at large.-VNA