Vietnam and China Forge Stronger Economic Ties with Landmark Agreements

Vietnam and China have signed ten agreements to strengthen cooperation in agriculture, cross-border payments, and infrastructure. This comes as part of Chinese Premier Li Qiang's visit to Hanoi. Bilateral trade between the countries has risen significantly, highlighting their vital economic partnership.

In a significant development, Vietnam and China have signed ten strategic agreements aimed at strengthening their economic partnership. These agreements, which cover areas such as agriculture cooperation and cross-border QR code payments, were signed during the visit of Chinese Premier Li Qiang to Hanoi.

China, being Vietnam's largest trading partner, has reported a 21% increase in bilateral trade, reaching $148 billion in the first three quarters compared to the previous year. The signing occurred following a meeting between Premier Li and Vietnamese Prime Minister Pham Minh Chinh.

Additionally, the two countries have also focused on updating progress on cross-border railway links, although details on costs and plans remain undisclosed. A noteworthy agreement involves deploying cross-border payment systems between Vietnam and China, enhancing financial transactions across borders.

(With inputs from agencies.)