In a landmark event, Xi Jinping, General Secretary of the Communist Party of China (CPC) Central Committee and Chinese president, embarked on a state visit to Vietnam from December 12 to 13. Invited by Nguyen Phu Trong, General Secretary of the Communist Party of Vietnam (CPV) Central Committee, and Vietnamese President Vo Van Thuong, this visit signifies the strengthening of bilateral relations.
Celebrating the 15th anniversary of the comprehensive strategic cooperative partnership between China and Vietnam, this visit marks the first by a top CPC leader since the 20th CPC National Congress and follows the CPV leader’s visit to China in October 2022. During the visit, Xi and Trong held talks that resulted in the announcement of a new positioning for bilateral relations, aiming to build a China-Vietnam community with a shared future. This initiative underscores the strategic significance of deepening the comprehensive strategic cooperative partnership between the two nations.
Despite facing global economic challenges in recent years, the cooperation between China and Vietnam has demonstrated remarkable growth. China remains Vietnam's foremost trading partner, while Vietnam stands as China’s largest trading partner within ASEAN and the fourth largest globally, following the United States, Japan, and the Republic of Korea.
Bilateral trade has seen exponential growth, with the trade volume reaching $50 billion in 2012, a 25-fold increase from the year 2000. This figure surpassed $100 billion in 2017 and broke the $200 billion mark in both 2021 and 2022. Furthermore, China's investment in Vietnam has surged more than tenfold over the past 15 years, totaling $25 billion. In 2023, China ranked fourth among countries and territories investing in Vietnam, highlighting the deepening economic ties between the two nations.
The state visit not only reinforces the economic bonds but also paves the way for greater collaboration in various sectors, positioning China and Vietnam as pivotal partners in the global arena.
Reference(s):
cgtn.com
