President Hu Jintao arrived in Vietnam's central city of Danang yesterday starting his state visit, during which the two countries will sign a series of agreements boosting economic partnership.
Hu will fly to the capital city of Hanoi today to meet high-ranking Vietnamese officials, including Nong Duc Manh, Communist Party of Vietnam General Secretary, and President Nguyen Minh Triet.
Frequent visits and exchanges show the increasing closeness of bilateral ties, especially in the political field, according to Zhai Kun, an expert on Southeast Asian affairs with the China Institute of Contemporary International Relations. Manh visited China in August and Hu toured Hanoi last October.
The current visit comes shortly after Vietnam became the latest member of the World Trade Organization (WTO). The accession is expected to facilitate economic and trade growth between the two sides, Zhai told China Daily.
Bilateral trade between the two countries is expected to top US$10 billion this year, comfortably reaching the goal set by both governments four years ahead of schedule.
This forecast is based on bilateral trade exceeding US$8 billion in the first nine months of this year, according the Ministry of Commerce.
China is now Vietnam's second biggest trading partner of Vietnam after the EU and is Vietnam's biggest seller.
During the visit, the two countries will sign documents guiding the development of so-called "two corridors and one circle," according to sources with the Vietnamese Embassy in China.
Advocated in 2004, this development strategy will link one corridor between Kunming in Yunnan Province with Hanoi, with the second linking Nanning in Guangxi Zhuang Autonomous Region with the Vietnamese capital. The two economic corridors are believed to be crucial for building a vigorous regional economy. Finally, the circle refers to the pan-Beibu Gulf economic area.
Hu Qianwen, Chinese ambassador to Vietnam, said that the two countries have been broadening their trade cooperation, especially since President Hu's 2005 visit to Vietnam.
In Hanoi, the Chinese leader will also attend the 14th Economic Leaders' Meeting of the Asia-Pacific Economic Cooperation (APEC) scheduled for November 18-19.
On the sidelines of the meeting, Hu will meet a number of leaders of APEC members, including US President George W. Bush and Japanese Prime Minister Shinzo Abe.
Hu is expected to leave Hanoi on Sunday to continue his four-nation trip, which will also take him to Laos, India and Pakistan.
(China Daily November 16, 2006)
