The Hanoitimes - The comprehensive strategic cooperation partnership between Vietnam and China continues to maintain a positive development trend. Vietnam and China have agreed to refrain from complicating maritime disputes and constructively cooperate with other ASEAN nations in the talks on the Code of Conduct in the South China Sea (COC), the Vietnamese government portal reported. Vietnam refers to the South China Sea as East Sea. The agreement was reached at the 11th meeting of the Vietnam - China Steering Committee for bilateral cooperation, co-chaired by Vietnam's Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh and China's State Councilor and Foreign Minister Wang Yi on September 16. The two sides exchanged frankly on the issues at sea, agreed to abide the important common perception reached between the two countries' leaders and the agreement on basic principles for addressing the maritime issues between Vietnam and China, and abid with the Declaration of … [Read more...] about Vietnam, China agree to foster COC negotiations
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Committee for Vietnam – China cooperation convenes 11th meeting
Deputy Prime Minister and Foreign Minister Pham Binh Minh (R) and State Councillor and Foreign Minister of China Wang Yi (Photo: VNA) HCM City (VNA) – The 11th meeting of the Steering Committee for Vietnam – China Bilateral Cooperation convened in Ho Chi Minh City on September 16 under the chair of Deputy Prime Minister and Foreign Minister Pham Binh Minh and State Councillor and Foreign Minister of China Wang Yi. The sides agreed that the two countries’ comprehensive strategic cooperative partnership has grown positively since the last meeting in April 2017, with their high-ranking Party and State leaders exchanging frequent meetings and contacts, and cooperation between their public ministries, sectors and localities as well as people-to-people exchange boosted across fields. They also pointed to shortcomings in bilateral ties, including trade deficit of Vietnam with China, slow progress of Chinese-constructed projects in Vietnam, and slow disbursement of Chinese … [Read more...] about Committee for Vietnam – China cooperation convenes 11th meeting
Vietnam, China to open new border gate pair
Chi Ma Border Gate in Lang Son province (Photo: VNA) Lang Son (VNA) – The official opening of bilateral border gates Chi Ma (Vietnam) – Ai Dian (China) is scheduled to be held on September 10. Chairman of the People’s Committee of Lang Son province Pham Ngoc Thuong on August 30 made a fact-finding tour of the Chi Ma border gate and worked with relevant agencies on the preparation for the launching event in Loc Binh district. He requested the provincial Department of External Affairs and the management board of Dong Dang – Lang Son border gate economic zone as well as local police, border guard and customs forces to continue coordinating with Chinese counterparts to gear up for the opening and urge contractors to complete the installation of equipment while ensuring order and security. Head of the management board of the Dong Dang – Lang Son border gate economic zone Phan Hong Tien said the construction of the No.1 inter-sectoral monitoring house at the … [Read more...] about Vietnam, China to open new border gate pair
New circular to help boost Vietnam-China border trade
At Mong Cai international border gate (Source: VNA) According to Circular No 19/2018/TT-NHNN issued by the State Bank of Vietnam on August 28, which will take effect from October 12 this year, the Chinese yuan will be allowed for payment in the border areas between Vietnam and China. Besides the yuan, traders and residents in the border areas of Vietnam and China, can also use Vietnamese dong or fully convertible currencies, such as the US dollar, Euro or Yen, for payment of goods and services. In addition to individuals, some other organisations will be subject to the new regulation. They include commercial banks and branches of foreign banks licensed to conduct foreign exchange transactions in Vietnam; branches of banks located in border areas and border-gate economic zones of Viet Nam and China; organisations trading in duty-free goods; organisations providing services in isolated areas at international border gates; organisations engaged in bonded warehouses in border … [Read more...] about New circular to help boost Vietnam-China border trade
Yuan payment allowed in Vietnam, China border areas
Chinese yuan will be allowed for payment in the border areas between Vietnam and China. Total trade revenues between Vietnam and China were estimated at US$66 billion in H1 2018. - VNA/VNS Photo The announcement was part of Circular No 19/2018/TT-NHNN, which will take effect from October 12 this year. Besides the yuan, traders and residents in the border areas of Vietnam and China, can also use Vietnamese đồng or fully convertible currencies, such as the US dollar, Euro or Yen, for payment of goods and services. In addition to individuals, some other organisations will be subject to the new regulation. They include commercial banks and branches of foreign banks licensed to conduct foreign exchange transactions in Vietnam; branches of banks located in border areas and border-gate economic zones of Vietnam and China; organisations trading in duty-free goods; organisations providing services in isolated areas at international border gates; organisations … [Read more...] about Yuan payment allowed in Vietnam, China border areas