China and Vietnam vowed to expand trade and cooperation in various fields in a joint statement issued in Beijing on Sunday.

The two sides expressed satisfaction on the sound momentum of bilateral trade and economic cooperation and agreed to continuously implement an agreement on expanding and deepening bilateral trade.

They also agreed to speed up the signing of a China-Vietnam five-year plan of economic development so as to further upgrade the economic cooperation scale, the statement said.

Based on principles of mutual benefit, the two sides agreed to explore fresh trade growth areas and maintain rapid trade growth. They would also take effective measures to optimize trade structure for a balanced development of trade.

China and Vietnam will also support and encourage enterprises from both countries to cooperate in the key fields of infrastructure, manufacturing, human resources exploration, energy and mineral resources machining. Cooperation on alumina projects and other key projects would be stepped up, the statement said.

The two sides reiterated to strengthen cooperation under the World Trade Organization (WTO) and other international, regional and sub-regional economic mechanisms.

They signed cooperation agreements on plant and animal quarantine, and an agreement on China to provide favorable loan and export buyer's credit to Vietnam.

Nong Duc Manh, Communist Party of Vietnam (CPV) Central Committee general secretary, would conclude his four-day tour to China on Monday.

(Xinhua News Agency June 2, 2008)