Home Money & Business Chinese Premier discusses trade in Vietnam amid South China Sea tensions.

Chinese Premier discusses trade in Vietnam amid South China Sea tensions.

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Chinese Premier discusses trade in Vietnam amid South China Sea tensions.

BANGKOK — On Sunday, China committed to supporting Vietnam in the development of cross-border railways and expanding its agricultural imports from the nation, according to reports from Vietnam’s state media.

During an official visit to Vietnam, Premier Li Qiang assured that China would open up its market to a variety of high-quality Vietnamese products including fruits and seafood, as stated in the media coverage.

Currently, China is Vietnam’s primary trading partner and ranks as the second-largest export market following the United States. In 2023, trade between the two nations reached an impressive $172 billion. Recognizing the significance of this partnership, Vietnam’s top leader, To Lam, chose to visit China first during his foreign travels after assuming office last year.

Li’s visit came on the heels of his trip to Laos, where he countered requests from Southeast Asian leaders to adhere to international laws regarding territorial disputes in the South China Sea.

Vietnamese Prime Minister Pham Minh Chinh emphasized the necessity for both nations to honor each other’s legitimate rights and interests while resolving disputes through peaceful negotiations. He also highlighted the need to manage issues concerning fishermen and their vessels, according to the Vietnamese state media.

Two weeks prior, Vietnam had lodged a protest against China following an alleged attack by Chinese law enforcement that resulted in injuries to several Vietnamese fishermen near the disputed Paracel Islands in the South China Sea.

China has maintained de facto control over the Paracel Islands since 1974 when it seized them from Vietnam during a brief naval clash.

During a meeting of Southeast Asian leaders in Laos, U.S. Secretary of State Antony Blinken raised concerns about China’s “increasingly dangerous and unlawful” activities in the South China Sea, an area that Beijing claims almost in its entirety.

In their discussions on Sunday, Chinh and Li agreed to enhance cooperation in diplomacy, national defense, and public security, stated the reports.

Additionally, ten cooperation agreements were formalized, including the formation of a working group aimed at developing cross-border economic cooperation zones, as well as the implementation of QR-code cross-border payment solutions.

The railway agreements included a technical plan and feasibility studies to improve rail connections between Vietnam and China.

On the trade front, Chinh requested broader access for numerous products, such as tropical fruits, meat, farm-raised spiny lobster, and traditional plant-based medicines. In response, Li indicated China’s willingness to address trade concerns and collaborate with Vietnam on customs and quarantine processes, according to Vietnamese reports.