President Xi Jinping's visit to Vietnam will undoubtedly bring the two countries' already good trade and economic cooperation to a new high, Vice-Commerce Minister Wang Shouwen said Friday.
The visit is expected to witness achievements made in areas of trade, investment, service trade and cross-border economic cooperation, he added.
Speaking at a press briefing in Beijing, Wang said the trade and investment cooperation between China and Vietnam has reached a high level after joint efforts in recent years.
China has been Vietnam's largest trading partner over the past 14 years and the two-way trade volume accounted for 20 percent of Vietnam's global trade volume, he said, and China's investment to Vietnam also increased rapidly in recent years, with last year's investment reaching $15 billion.
"President Xi's visit to Vietnam will play a significant role in terms of bilateral trade and the economic relationship, and specific goals will be achieved in a number of fields," he said.
In terms of trade, the two sides will further promote the sustainable and stable development of bilateral trade, including increasing imports from Vietnam.
In terms of investment, the two countries will list the key projects within their five-year plan on developing bilateral trade and economy, and the list will "reflect bilateral cooperation under the Belt and Road Initiative as well as in production capability, Wang said.
China has been Vietnam's largest source of foreign tourists in many years, he said, and the two countries will work to boost people-to-people exchanges and communications through the Chinese president's visit.
The vice-commerce minister also said that China expected to achieve some progress in the construction of the cross-border economic cooperation zone between China and Vietnam.
President Xi will pay state visits to Vietnam and the Laos from Nov 12 to 14.
