Since Vietnam and China established full diplomatic ties in 1991, their relations of friendship and cooperation have expanded to all areas, bringing many practical benefits to both sides. The two countries have signed many Government-level agreements and other cooperative agreements, laying a firm legal foundation for long-term cooperation. They have inaugurated air, marine, land and rail routes, facilitating the exchange of commodities and travel between the two countries. They have also exchanged more than 100 delegations each year at different levels, promoting mutual understanding and expanding cooperation.

High-level meetings between the two countries’ top leaders have been held annually. In February 1999, top Vietnamese and Chinese leaders established the orientation for bilateral relations in the 21^st century under the motto of “Friendly neighbourliness, comprehensive cooperation, long-term stability and future orientation”. In 2000, they agreed to become “good neighbours, good friends, good comrades and good partners”.

During Party General Secretary Nong Duc Manh’s visit to China from May 30 to June 2, 2008, Vietnam and China issued a joint statement, affirming their determination to develop the strategic and comprehensive cooperative partnership.

Through their exchange visits, the top leaders have stressed that the Vietnamese-Sino friendship is a valuable asset for the two Parties, States, Governments and people which should be maintained and fostered for future generations. They have also vowed to do their utmost to cement bilateral relations, and voiced their support for the process of Doi Moi (renewal), open-door policy and socialist construction in their respective countries, for the sake of peace, stability, cooperation and development in the region and the world.

Currently, China is one of Vietnam’s leading trading partners. In 2007, two-way trade value reached US$15.98 billion, fulfilling the US$15 billion target three years ahead of schedule. In the first seven months of this year, bilateral trade value fetched US$12.67 billion and is expected to rise to US$21 billion by the end of the year. Vietnam mainly imports petroleum, chemicals, fertilizers, garment materials, steel, machinery and accessories from China. It exports crude oil, coal, rubber, seafood and farm products to China.

China has so far invested in 606 projects in Vietnam with a total registered capital of US$2 billion, ranking 12^th among 82 foreign investors in the country. These projects focus on the industrial and construction sectors. Binh Thuan thermal power plant is the largest Chinese-invested project, capitalised at US$900 million at the first phase.

Over the past years, China has constantly increased preferential credits for Vietnam. The two countries are carrying out several big economic projects, including the Sinh Quyen copper plant, Thai Nguyen steel complex, Ha Bac nitrogenous fertilizer plant, Quang Ninh I & II thermal power plants, Hai Phong I & II thermal power plants, signalling systems for major rail routes and telecommunications networks.

The two countries’ top leaders have also encouraged their business circles to establish long-term and mutually beneficial partnerships in such areas as infrastructure construction, manufacturing, human resource development, energy and mineral ore processing, as well as carrying out projects in the framework of “Two corridors, an economic beltway”.

Mr Dung’s visit to China is expected to strengthen the trusted relationship between the two countries’ leaders and realise the strategic and comprehensive cooperative partnership by drawing up cooperation agreements, particularly in economics, trade, investment and tourism.