China, Vietnam Sign 40 Agreements In Various Fields During Xi Visit

(MENAFN- Kuwait News Agency (KUNA)) KUALA LUMPUR, April 15 (KUNA) -- China and Vietnam signed more than 40 agreements in various fields, said President of the People's Republic of China Xi Jinping Tuesday.
This came following his meeting with Vietnamese Prime Minister Pham Minh Chinh in Hanoi, where Ping praised Vietnam's economic vitality, the local newspaper Vietnam reported.
In turn, the Vietnamese Prime Minister affirmed that his country is moving forward with implementing the "three-pronged strategy," which includes developing science and technology, streamlining the administrative apparatus, and strengthening the private sector, alongside the "four-pronged strategy" to build an independent and globally open economy.
The Vietnamese official emphasized the priority of the relationship with China as a fundamental strategic choice, calling for enhanced practical cooperation, particularly in railway projects, by accelerating the signing of the official development assistance loan agreement to begin implementation of the Lao Cai-Hanoi-Hai Phong line in 2025.
Xi Jinping's visit to Vietnam comes as part of a Southeast Asian tour that also includes Malaysia and Cambodia amid escalating trade tensions with the US over tariffs. China faces US tariffs of up to 145 percent, while Vietnam is negotiating a potential 46 percent reduction in tariffs after the temporary suspension expires next July. (end)
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