Premier Li pledges a more balanced trade with Vietnam

Premier Li Keqiang vowed on Friday to achieve a more balanced trade with Vietnam to bring further benefits to both countries by promoting maritime, on-land and financial cooperation.

Li made the promise when he met with the visiting general secretary of the Communist Party of Vietnam, Nguyen Phu Trong, who is on a four-day visit to China with a large delegation. The visit ends on Sunday.

China is also willing to accelerate linking its Belt and Road initiative with Vietnam’s national strategies while both countries aim to boost economic growth and improve people’s livelihood, the premier said.

This year marks the 50th anniversary of the establishment of the Association of Southeast Asian Nations (ASEAN), meaning regional cooperation is ushering in new opportunities, Li said. China will work with ASEAN countries to promote regional integration, economic globalization, trade liberalization and investment facilitation under the framework of China-ASEAN free trade area and Lancang-Mekong sub-region cooperation, he added.

Trong said Vietnam will implement consensuses reached by the two countries, expand bilateral trade and investment and enhance mutually beneficial cooperation in fields such as agriculture, production capacity, sciences and technologies.

Trong’s visit is another example of the frequent high-level exchanges between the two neighbors. In September, Li met with Vietnamese Prime Minister Nguyen Xuan Phuc in Beijing when Phuc led a large delegation of 132 members for his first official visit to China since taking office in April.