China, Vietnam vow to promote economic ties

Visiting Vietnamese Deputy Prime Minister Nguyen Xuan Phuc said Thursday that Vietnam will strive to develop balanced and sustainable trade with China.

Chinese enterprises are encouraged to increase investment in infrastructure and interconnectivity projects in Vietnam, said Nguyen Xuan Phuc at the China-Vietnam Economic and Trade Cooperation Forum.

He expects both countries to facilitate bilateral trade by opening new trade channels and ports, extending port hours and establishing a one-stop customs clearance model.

Wang Jinzhen, deputy head of China Council for the Promotion of International Trade (CCPIT), said trade between the two countries has been strengthened in recent years and the goal of raising bilateral trade revenue to over 100 billion U.S. dollars is expected to be realized by 2017.

Both sides can develop capacity cooperation in many sectors including electricity, rail transit, fertilizers, textiles and building materials, Wang added.

Jointly hosted by CCPIT and Vietnam Chamber of Commerce, the forum focused on promoting economic ties between China and Vietnam, attracting more than 200 business people.

China has been the largest trade partner of Vietnam for years. Bilateral trade revenue reached 83.6 billion U.S. dollars last year, a year-on-year increase of 27.7 percent, official data showed. Endi