Published 16:47 IST, October 13th 2024
China and Vietnam strengthen trade ties amid South China sea tensions
Vietnamese Prime Minister Pham Minh Chinh emphasised the need for both countries to respect each other’s rights and interests.
Chinese Premier Li Qiang met with Vietnamese officials during his official visit to Vietnam, where he pledged support for cross-border railway development and announced plans to expand agricultural imports from Vietnam, despite ongoing tensions over the South China Sea.
Li's visit included a commitment to open Chinese markets to high-quality Vietnamese products such as fruits and seafood, as reported by Vietnam's state media. With trade between the two nations reaching $172 billion in 2023, China remains Vietnam's largest trading partner and its second-largest export market after the United States.
Vietnamese Prime Minister Pham Minh Chinh emphasised the need for both countries to respect each other’s rights and interests, advocating for peaceful resolution of disputes, particularly concerning fishing rights. This statement comes in the wake of Vietnam's condemnation of a recent incident where Chinese law enforcement allegedly assaulted Vietnamese fishermen near the contested Paracel Islands, which China has controlled since 1974.
During his trip to Vietnam, Li had just come from a meeting in Laos, where he faced calls from Southeast Asian leaders to adhere to international law regarding territorial disputes in the South China Sea US Secretary of State Antony Blinken expressed concerns about China's aggressive actions in the region at the same meeting.
In their discussions, Chinh and Li agreed to enhance cooperation in various areas, including diplomacy, national defence, and public security. They also witnessed the signing of ten cooperation agreements, including initiatives for cross-border economic zones and the implementation of QR-code payment systems.
The railway agreements involve technical plans and feasibility studies aimed at improving train connectivity between the two countries. Chinh also requested increased access for a variety of Vietnamese products, including tropical fruits, meat, farm-raised spiny lobster, and traditional medicines.
Updated 16:48 IST, October 13th 2024