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Premier Li Keqiang emphasizes on creating a new landscape for China-Vietnam practical cooperation

Updated: Oct 16,2013 11:05 AM

On October 15, 2013, Premier Li Keqiang of the State Council and Prime Minister Nguyen Tan Dung of Vietnam jointly attended and addressed China-Vietnamese Business Luncheon in Hanoi.

Li Keqiang said that the economic and trade cooperation between China and Vietnam is growing quickly and the two sides enjoy tremendous potentials for cooperation. The common interests of the two countries are far greater than their differences. The two countries can build on each other’s development strategies to accelerate economic and trade cooperation by following the market-oriented principles, enabling companies to be main players and giving good play to the guiding role of governments.

First, joining hands to boost the all-round cooperation. The two sides agreed to create three working groups and drive the cooperation simultaneously along the three tracks of marine, onshore and financial cooperation. Only when there is peace on the sea and a stable environment, can companies have stable market expectations and long-term investment intentions. It will also bring confidence to the entrepreneurs and inject strong dynamism into win-win cooperation between the two countries.

Second, promoting trade facilitations. The three working groups shall start working within the year. The two countries should also make good use of China-Vietnam Steering Committee for Bilateral Cooperation and China-Vietnam Economic and Trade Cooperation Committee to steadily execute cooperation plans and memorandums of understanding and major economic and trade cooperation projects and strive to bring the bilateral trade volume up to $100 billion by 2017. In the meantime, the two countries should expand the size of local-currency swap, settlement in local currencies and provide financial support for economic and trade cooperation.

Third, actively expanding mutual investment. The two countries should give priority to connectivity projects. The Chinese government encourages Chinese companies to carry out investment cooperation with Vietnam by various means and welcomes Vietnamese companies to invest in China.

Fourth, deepening cooperation within the framework of ASEAN cooperation. China proposed the China-ASEAN “2+7” cooperation framework for the coming decade not long ago. China and ASEAN will start negotiations on upgrading China-ASEAN Free Trade Area to expedite regional economic integration process.

Li Keqiang pointed out that facing the economic downward pressure since the year, China has been seeking to make progress and achievements while ensuring stability of the Chinese economy and the economy is showing a good momentum of steady growth. China has the conditions to fulfill the main targets of economic and social development this year. China will unswervingly push forward the reform of economic systems. China’s development will surely provide huge market and development opportunities for Vietnam and the region.

Li Keqiang said that China and Vietnam need to join hands to turn cooperation opportunities into tangible benefits. He hoped that the entrepreneurs could show their capabilities, strive to create a new landscape for bilateral practical cooperation and make greater contributions to achieving new development and breakthroughs of bilateral cooperation.

Prime Minister Nguyen Tan Dung said that the economic and trade cooperation is the main pillar of the friendly relations between the two countries. Both sides present development opportunities to each other. The consensus reached during Premier Li’s visit will lay an important foundation for bilateral cooperation in all areas. Vietnam is willing to provide all facilitations for Chinese companies to invest in Vietnam and enhance Vietnam-China friendship through cooperation.

China-Vietnam Business Luncheon was co-hosed by the Ministry of Planning and Investment of Vietnam and China Council for the Promotion of International Trade. There were over 200 representatives from the Chinese and Vietnamese communities attending the luncheon.