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Official Gazette

Wednesday, November 21, 2018

Vietnam wants healthy, sustainable relationship with China: PM

Updated: 09:51’ - 05/11/2018
Vietnam attached importance to developing its friendly, stable, healthy and sustainable relationship with China, and considered it one of the top priorities of the country’s foreign policy, said Prime Minister Nguyen Xuan Phuc.

Prime Minister Nguyen Xuan Phuc(left) meets with Chinese President Xi Jinping in Shanghai yesterday during China’s first International Import Expo__Photo: Thong Nhat/VNA

He made the statement at a meeting with Chinese Party General Secretary and President Xi Jinping in Shanghai on November 4 as part of his trip to China to attend the first International Import Expo of China (CIIE 2018).

PM Phuc called for joint efforts to maintain high-level visits and meetings, increase mutual political trust, promote important cooperation mechanisms between the two parties and countries, further utilize the potential of each side and boost cooperation in areas that made practical progress.

The guest congratulated China on the achievements it had recorded after 40 years of reform, and expressed his wish that under the leadership of the Communist Party of China led by Xi Jinping, the Chinese people would be able to turn China into a modern socialist country that is prosperous, democratic, civilized, harmonious and beautiful.

He also lauded China’s initiatives to contribute to peace, stability and prosperity in the region and the world, as well as its Belt and Road Initiative.

Vietnam backed the Mekong-Lancang cooperation in combination with the framework of the Greater Mekong Sub-region collaboration for effective use and management of water resources and sustainable development, he noted.

PM Phuc expressed his belief that the CIIE 2018 would open up new cooperation channels for goods distribution, helping promote official trade activities and brand building so that more and more Vietnamese commodities would be consumed in the Chinese market.

He asked the Chinese side to make it easier for Vietnamese goods to enter its market, and devise practical policies and measures to reduce Vietnam’s big trade deficit towards promoting stable and sustainable growth of bilateral trade.
Vietnam always welcomed Chinese investment in the country, he said.

Regarding sea-related issues, the Vietnamese Government leader applauded the positive results of negotiations and cooperation mechanisms in less sensitive areas in the sea between the two countries, as well as initial progress for the Code of Conduct in the East Sea (COC) between ASEAN and China.

He suggested the two sides respect each others’ legitimate interests, realize the common perceptions of the two countries’ leaders and the agreement on the basic principles guiding the settlement of sea-related issues between Vietnam and China, and patiently solve disputes by peaceful measures in line with international law and the 1982 UN Convention on the Law of the Sea (UNCLOS), in order to maintain peace and stability in the East Sea and the region.

For his part, Chinese Party General Secretary and President Xi Jinping said that PM Phuc’s participation in the expo reflected the Vietnamese Government’s respect for their bilateral relations.

He stressed that the Chinese Party and State always treasured ties with Vietnam, and agreed to maintain high-level contacts to bolster political understanding and foster all-round cooperation in a practical manner with the Southeast Asian country.

He added that both sides would work together to enhance people-to-people exchanges and consolidate their traditional friendship while maintaining peace and sustainability at sea and creating favorable conditions for bilateral ties to thrive.

Regarding economic-trade cooperation, Xi stated that China would import more goods from Vietnam to balance trade with the neighboring country.

In 2017, Vietnam’s shipments to China rose 36.8 percent and China would continue to promote the trend, he said.

Welcoming Chinese firms

On the same day, while hosting a reception for leaders of major Chinese groups operating in finance, construction and infrastructure development, PM Phuc said that the Vietnamese Government always welcomed Chinese investment.

PM Phuc spoke highly of Chinese corporations’ business achievements at home and abroad.

The Chinese businessmen lauded Vietnam’s socio-economic development while saying they would continue to expand and invest in finance, insurance, banking, energy and transport infrastructure in Vietnam.

They expressed their hope that the Vietnamese Government and relevant authorities would create favorable conditions for them to join large projects in the country.

Vice Chairman of Ping An Trust Song Chengli said that his corporation had strengths in finance, insurance, banking and investment with total assets of 870 billion.

The group was in the world’s top 500 enterprises and ranked 7th among the leading global financial giants, he said, adding that he was interested in Vietnam’s mechanisms to protect foreign financial firms, especially those investing in local credit organizations.

Chairman of China Greenland Zhang Yuliang expressed his pleasure at meeting PM Phuc in Shanghai, saying that his firm had cooperated with many large groups around the world and had total assets worth USD 150 billion.

He said that Vietnam was a potential market with great cooperation opportunities, especially in agriculture, adding that Vietnamese farm produce and food were also welcomed in the Chinese market.

For his part, PM Phuc spoke highly of the groups’ plans to invest and expand in Vietnam.

He applauded the fields in which Chinese firms wanted to pour cash into Vietnam, including agriculture, food production, finance and transport infrastructure development.

The PM asked representatives from Vietnamese ministries and sectors to collect opinions and proposals from Chinese firms and then arrange working sessions to discuss how to realize their business ideas.

With its current development pace, from now to 2020, Vietnam needed USD 25 billion per year for infrastructure development, PM Phuc said, noting that it was a promising land for international investors, including China, to cultivate, as it is one of Vietnam’s priorities for the country’s socio-economic development.

He expressed his hope that Chinese firms would promote imports of Vietnamese agro-forestry-fishery products.- (VNS/VLLF)
 

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