China will help Vietnam secure Chinese preferential loans and borrow from a multilateral development bank to finance infrastructure and other joint projects.[Special coverage]
The message was contained in a China-Vietnam communique issued Monday at the end of a state visit to China by Vietnamese President Tran Dai Quang.
"The two sides will create conditions to tap Asian Infrastructure Investment Bank (AIIB) funds for infrastructure connectivity projects," it said. "China will also provide facilitation for Vietnam when it applies for Chinese preferential loans or other funds."
The AIIB, founded in December 2015, was initiated by China and has its headquarters in Beijing.
The communique came a day after China unveiled hefty financial support for projects under the Belt and Road Initiative, a vast trade and infrastructure network spanning Eurasia and beyond.
China and Vietnam agreed to push for the completion of the Hanoi light rail (Cat Linh - Ha Dong) project and the design of a standard-gauge railway linking Hai Phong, Hanoi, and Lao Cai, part of a cross-border railway network that connects China with Vietnam's eastern coast.
It urged companies involved in these projects to settle problems and overcome challenges "as soon as possible."
The communique also said China will open its market for certain types of Vietnamese fruit, prepare to open to Vietnamese dairy products, and carry out agricultural cooperation on rice and cassava.
Efforts will be sped up for the two sides to sign an agreement on cross-border economic zones and for Vietnam to set up trade promotion outposts in the Chinese cities of Hangzhou and Chongqing.
"The legacy of China-Vietnam friendship should be carried on," the communique said. "In a fast-changing and complicated world, the two sides should maintain mutual respect and political trust, deepen cooperation, and properly control and manage differences for a peaceful and stable region."
On maritime issues, the communique said the two sides had in-depth, sincere talks and agreed to strictly follow the consensus reached by Chinese and Vietnamese leaders, use current negotiation mechanisms such as border talks between governments, and seek mutually acceptable and long-term solutions.
The two sides agreed to fully and effectively implement the Declaration on the Conduct (DOC) of Parties in the South China Sea and to reach the Code of Conduct (COC) as soon as possible on the basis of consultation.
The two sides agreed to properly manage disputes over maritime issues and refrain from provocation to maintain peace in the South China Sea.
In his meeting with Chinese President Xi Jinping, Quang invited Xi to visit Vietnam and attend the 25th Asia-Pacific Economic Cooperation (APEC) Economic Leaders' Meeting.
Xi accepted the invitation, the communique said.
