(VNF) – The visit to Vietnam by General Secretary of the Communist Party of China (CPC) Central Committee and President Xi Jinping is significant to the relationship between Vietnam and China, said the Vietnam News.

CPV General Secretary Nguyen Phu Trong (L) and CPC General Secretary, Chinese President Xi Jinping (source: VOV)

The two-day visit (November 12-13), made at the invitation of General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong and President Tran Dai Quang, is the first overseas trip by the Chinese top leader after the CPC’s 19th National Congress.

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.

Talking about the visit, Prof., Dr. Nguyen Quang Thuan, President of the Vietnam Academy of Social Sciences, believed that as China is entering the new period of development, the relations between Vietnam and China are also engaging in a new development stage. It therefore needs new policies and measures in order to further develop the relations both in scope and scale and in a healthy and effective manner, further enhancing cooperation and the sharing of development experiences, balancing economic relations, promoting exchanges in all aspects such as politics, foreign affairs, economy, culture, defense, and so on.

Meanwhile, Deputy Director of the Chinese State Council Information Office, Guo Weimin, held that the Vietnam-China relations are growing positively with increasing political trust, taking into account the on-going visit of General Secretary of the CPC and Chinese President Xi Jinping to Vietnam after the 19th National Congress of the CPC. The visit is of great significance in enhancing the neighborliness between Vietnam and China, laying the firm foundation for the development of the bilateral relations in the coming time, he added.

The visit of General Secretary of the CPC and Chinese President Xi Jinping to Vietnam is an occasion to review the bilateral cooperation between two countries throughout the past decades.

Vietnam and China established diplomatic ties on January 18th, 1950. Nowadays, China is Vietnam’s biggest trade partner and largest tourism market.

Meanwhile, Vietnam has become China’s top trade and tourism partner in the Association of Southeast Asian Nations (ASEAN).

President Tran Dai Quang (L) and CPC General Secretary, Chinese President President Xi Jinping (source: cong luan)

Two-way trade value expanded from USD 32 million in 1991 to USD 70.5 billion in 2016. The figure reached USD 55.23 billion in the first eight months of this year, with Vietnam’s trade deficit with China standing at USD17.77 billion, down 5.4 percent year-on-year.

The two countries are joining hands to strive toward stable and balanced trade and achieve the bilateral trade target of USD 200 billion in 2025.

In terms of tourism, Vietnam welcomed 2.7 million Chinese tourists in 2016 and 2.65 million Chinese holiday-makers in January-August, 2017.

In terms of investment, as of August 2017, China has invested in 1,727 projects valued at USD11.93 billion in Vietnam. In the first eight months of this year, China became Vietnam’s fourth largest investor with total registered capital of USD1.6 billion.

At the moment, Vietnam is welcoming and creating favorable conditions for Chinese firms to carry out large-scale projects using advanced and eco-friendly technologies, particularly in infrastructure, processing industry, clean energy and high-tech agriculture, said PM Nguyen Xuan Phuc, in a meeting with CPC General Secretary and President Xi Jinping on November 11.

Prime Minister Nguyen Xuan Phuc (R) and CPC General Secretary, Chinese President Xi Jinping (source: VNA)

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.

In terms of maritime issues, 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.

At the moment, Vietnam and China are continuing with the efforts 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.

Based on the existing positive momentum of cooperation, the visit of CPC General Secretary and President Xi Jinping is believed to improve the efficiency of cooperation in all fields between two countries.

Furthermore, it will help consolidate high-level common perceptions on well managing differences and protecting peace and stability in the East Sea, which will vastly benefit the peoples of Vietnam and China, as well as maintain peace and stability in the region and the world./.

( VNF )