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China, US presidents set to begin state visits to Việt Nam

Update: November, 11/2017 - 09:00
Communist Party of China General Secretary and President Xi Jinping (left) and US President Donald Trump. — VNS File Photo
Viet Nam News

HÀ NỘI – Communist Party of China General Secretary and President Xi Jinping and US President Donald Trump will make two-day state visits to Việt Nam this month.

The Chinese leader will begin his visit tomorrow.

Việt Nam and China established diplomatic ties on January 18, 1950. China remains Việt Nam’s biggest trade partner and largest tourism market, while Việt Nam is China’s biggest partner in ASEAN and ninth-biggest in the world.

Two-way trade value increased from US$32 million in 1991 to $70.5 billion in 2016. The figure reached $55.23 billion in the first eight months of this year, with Việt Nam’s trade deficit with China standing at $17.77 billion, down 5.4 per cent year-on-year. 

Trump begins visit

US President Donald Trump will begin his visit today.

Việt Nam and the US established diplomatic ties on July 12, 1995. Positive strides have been recorded in bilateral relations in all spheres since the countries established a comprehensive partnership in July 2013. 

Over the past years, the US has become one of Việt Nam’s leading trade partners. Bilateral trade has continually grown by about 20 per cent each year. Despite a trade deficit with Việt Nam, the US has enjoyed a rapid export growth rate of 77 per cent annually, four times higher than the growth of Việt Nam’s shipments to the US. 

Total US investment in Việt Nam has surpassed $10 billion. — VNS

 

 

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