Vietnam and China have agreed to further tap strengths of an economic corridor involving the four Vietnamese localities of Lao Cai, Hanoi, Hai Phong and Quang Ninh,and the Chinese province of Yunnan, Vietnam News Agency reported Monday.
"This is an economic corridor which has many potentials and strengths. The development of Yunnan will have direct impacts on economic growth in the China-ASEAN (Association of Southeast Asian Nations) free trade area," Vietnamese Deputy Prime Minister Truong Vinh Trong said at a conference on economic cooperation among the five localities in northern Hai Phong city on Monday.
Vietnam is speeding up the construction of expressways and rail routes of Hanoi-Lao Cai, Hanoi-Hai Phong, and Ha Noi-Quang Ninh, adeepwater port in Hai Phong, and border economic areas in Lao Cai and Quang Ninh.
"In recent years, the Vietnam-China relations have continued to make fine progress in all fields, making active contribution to peace, stability and prosperous development of each nation, the ASEAN and Asia," Trong said.
Trade between China and Vietnam grew to over 9.95 billion U.S. dollars in 2006 from 8.2 billion dollars in 2005, according to the Chinese Commercial Ministry. The figure is expected to reach 13-14billion dollars in 2007, many Vietnamese trade experts predicted.
Source: Xinhua
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