Vietnam and China Strengthen Ties with New Agreements

Vietnam and China signed 10 agreements during Chinese Premier Li Qiang's visit to Hanoi, aiming to enhance cooperation in areas like agriculture and cross-border QR code payments. The visit highlights the growing economic ties, with a focus on improving rail connections and boosting agricultural trade.

Vietnam and China have solidified their commitment to strengthening bilateral ties by signing 10 significant agreements. These accords, ranging from agricultural cooperation to cross-border QR code payments, were signed during Chinese Premier Li Qiang's recent three-day visit to Hanoi.

China and Vietnam's burgeoning economic relationship was underscored by a 21% increase in bilateral trade in the first three quarters, reaching $148 billion. The agreements were forged following discussions between Premier Li and Vietnamese Prime Minister Pham Minh Chinh, as well as Communist Party chief President To Lam.

Among the key agreements is a focus on enhancing agricultural trade and customs processes. Additionally, both nations committed to advancing rail link projects, although specific plans and costs remain undisclosed. A stride towards modernizing payments was marked by a pact between Vietnam's National Payment Corp and China's UnionPay for cross-border payment implementation.

(With inputs from agencies.)