Chinese FM Wang Yi in Hanoi for Vietnam – China cooperation committee meeting

Wang’s trip was made at the invitation of Vietnamese Deputy Prime Minister Tran Luu Quang, who is also co-chair of the meeting.

The Vietnam-China Comprehensive Strategic Cooperation Partnership has maintained positive development and recorded achievements in recent times, especially after the 14th Meeting of the China-Vietnam Steering Committee for Bilateral Cooperation in Beijing in July 2022.

The two counties have maintained regular contact and increased exchanges of delegations at various levels to sketch out cooperation and development plans following the China visit in late 2022 by Vietnamese Party General Secretary Nguyen Phu Trong.

The two sides have agreed to enhance the efficiency of economic, trade, and investment cooperation; promote traffic connections, especially in the fields of railways, roads, and border gate infrastructure; and improve customs clearance efficiency to maintain smooth trade, and ensure production and supply chains.

The Chinese side affirmed that it would increase the import of Vietnamese goods, especially agricultural products; increase quotas for Vietnamese goods transiting China by railway to third countries; and expand high-quality Chinese investment into fields suitable to Vietnam's needs.

In the first half of this year, China poured nearly US$1.3 billion into 233 projects in Vietnam, making it the third largest FDI investor in the country after Singapore and Japan. Currently it maintains sixth position out of 143 countries and territories investing in Vietnam with 3,791 valid projects valued at more than US$25 billion.

The two countries have resumed post-pandemic commercial air routes in an effort to boost trade and tourism cooperation, as well as people-to-people exchanges.