China, Vietnam satisfied with bilateral trade ties
(Xinhua)
Updated: 2005-11-02 17:08

China and Vietnam on Wednesday expressed satisfaction over their economic and trade relations, pledging to bring their bilateral trade volumes to 10 billion US dollars by 2010.

In a joint statement issued on Wednesday during a visit to Vietnam by Hu Jintao, general secretary of the Central Committee of the Communist Party of China and president of China, the two countries vowed to promote their economic and trade ties on the basis of reciprocity and in a win-win manner.

China and Vietnam agreed to expand trade volumes and join hands to promote a balanced trade in a positive and pragmatic spirit, the statement said.

The two sides will spare no effort to enhance large-scale economic cooperation programs and create a convenient and favorable environment for long-term cooperation between their enterprises, it said.

The statement hailed the progress made in a research program on the establishment of two economic corridors connecting the two countries as well as an economic zone circling the Beibu Bay.

The two countries spoke highly of the smooth completion of the bilateral market access negotiations on Vietnam's bid to join the World Trade Organization (WTO).

China firmly supports Vietnam's early accession to the WTO, the statement said.

The two countries also agreed to expand cooperation in regional and international economic and trade issues, and push forward the establishment of a free trade area between China and ASEAN.

Hu began a three-day official goodwill visit to Vietnam on Monday at the invitation of Nong Duc Manh, general secretary of the Central Committee of the Communist Party of Vietnam, and Tran Duc Luong, president of Vietnam.

During the visit, China and Vietnam signed a series of agreements on economic and technological cooperation. Vietnam expressed its gratitude for China's aid and assistance in Vietnam's economic development.