China, Vietnam vow more substantial progress in joint maritime cooperation

 

Chinese Premier Li Keqiang (right) meets with visiting President of the Vietnam Fatherland

Front (VFF) Central Committee Nguyen Thien Nhan, in Beijing, on February 24, 2014.  

Photos by Ding Lin

 

 

 

 

China, Vietnam vow 

more substantial progress 

in joint maritime cooperation

 

 

 

By Hao Yalin

 

China and Vietnam on Monday of February 24 vowed to jointly promote their cooperation in areas including maritime, onshore and finance, and achieve more substantial progress.

The pledge came out of a meeting between Chinese Premier Li Keqiang and visiting President of the Vietnam Fatherland Front (VFF) Central Committee Nguyen Thien Nhan.

Li said he hoped the two sides would give full play of mechanisms such as the guiding committee for bilateral cooperation and three working groups on joint maritime development, infrastructure and financial cooperation, to achieve substantial progress.

The establishment of the three working groups was a consensus reached by China and Vietnam during Li’s visit to the country in November of last year, which was important breakthrough for the two countries on their way to peacefully handle maritime disputes.

Li called on the two countries to push forward joint development of larger scale in the South China Sea, appropriately handle disputes through negotiation and consultation, and maintain the peace and stability of the South China Sea with common efforts.

For his part, Nhan said the Vietnamese side will work with China to fully implement the consensus they already reached, and promote their maritime, onshore and financial cooperation to score more concrete achievements.

With regard to the China-Vietnam relations, Li spoke highly of the “positive progress” the two countries have made. He said China will handle relationship with Vietnam from a strategic view, and work with it to promote a sound and stable development of bilateral ties.

Nhan said the Vietnamese party and government attached high importance to relationship with China, which is a priority of Vietnam’s foreign policy. China’s development provides opportunities for Vietnam.

He also vowed to further enhance bilateral exchanges on national governance and promote development of bilateral ties.

Chairman of the National Committee of the Chinese People’s Political Consultative Conference (CPPCC) Yu Zhengsheng also held talks with Nhan on Sunday.

 

 

 

 

 

 

China ranks first among Vietnam’s

major trade partners in 2013

 

 

By Phuong

 

 

China ranked first among Vietnam’s largest trading partners in 2013, together with ASEAN, the United States, the EU, South Korea and Japan, according to Vietnam General Department of Customs on Monday of February 24.

Specifically, two-way trade between China and Vietnam reached 50.21 billion U.S. dollars, up 22 percent year-on-year. However, Vietnam’s trade deficit with China was large as the country imported goods worth 36.8 billion dollars (up 26.7 percent) from China.

Imports by foreign direct investment (FDI) enterprises from China rose by 38.7 percent to 20.59 billion dollars.

Two-way trade between Vietnam and other ASEAN member states reached 39.9 billion dollars, making it the second largest trade partner of Vietnam.

The United States ranked third in Vietnam’s trade partners, with two-way trade reaching 29.1 billion dollars in 2013.

Vietnam’s exports to the United States reached 23.87 billion dollars, a 21.4 percent growth, which accounted for nearly 18 percent of the country’s total export with a surplus of 18.64 billion dollars.

As the fourth largest trade partner of Vietnam with total trade value of 33.78 billion dollars, the EU was Vietnam’s largest market when it imported goods from Vietnam worth 24.33 billion U.S. dollars, up 19.8 percent year on year. The figure accounted for 18 percent of Vietnam’s total export.

In 2013, the bilateral trade between Vietnam and South Korea posted the strongest growth among the major trading partners of Vietnam. The total trade turnover was 27.33 billion dollars, up 29. 4 percent year-on-year, of which Vietnam’s exports to South Korea reached 6.63 billion dollars, up 18.8 percent, while its imports hit 20.7 billion dollars, up 33.2 percent.

Vietnam’s exports to Japan hit 13.65 billion dollars, up 4.5 percent. However, this growth rate is lower than 23 percent in 2010, 40 percent in 2011 and 21 percent in 2012.

Vietnam’s imports from Japan increased by 0.1 percent to 11.61 billion dollars in 2013.

 

 

 

 

 

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