HA NOI (VNS)— Viet Nam's Ministry of Industry and Trade and China's Ministry of Commerce signed a memorandum of understanding (MOU) on farm produce trading yesterday in Ha Noi.
The signing ceremony took place as the eighth session of the Viet Nam-China Joint Economic and Trade Co-operation Committee was held in the capital on the same day.
At the meeting, the two sides reviewed the progress made in their economic and trade partnership over the last year and discussed ways to further promote their co-operation in the sector.
Deputy Minister of Industry and Trade Nguyen Cam Tu said that since their last meeting, economic ties between Viet Nam and China had witnessed remarkable development, with two-way trade turnover exceeding US$41 billion in 2012.
China continued to be Viet Nam's largest trade partner while Viet Nam was one of China's most important trade partners in ASEAN, he noted.
The two sides reached a common consensus on issues of mutual concern, and discussed measures to raise two-way trade to $60 billion by 2015, reduce imports from China and strengthen cross-border trade, according to Tu.
They also discussed how to accelerate and ensure the quality of projects involving Chinese contractors, and reviewed the process of Chinese preferential loans being granted for Vietnamese infrastructure projects, he added.
The two sides pledged to further strengthen co-operation and remove obstacles, increasing the effectiveness of their strategic comprehensive partnership. — VNS