Map of Vietnams "Two Corridors and One Economic Circle" (Web photo)
HANOI, Nov. 6 (Xinhua) -- During Chinese President Xi Jinping's ongoing state visit to Vietnam, the two countries are set to conjoin their development plans for win-win results.
Xi's visit comes at a new stage of bilateral ties, as the two sides have agreed to work together to link China's Belt and Road Initiative and Vietnam's "Two Corridors and One Economic Circle" plan.
During Xi's visit, China and Vietnam will sign a host of agreements covering such areas as party-to-party cooperation, infrastructure, economy, trade, investment, culture and education.
Chinese President Xi Jinping (R), who is also general secretary of the Central Committee of the Communist Party of China, attends a signing ceremony with Nguyen Phu Trong, general secretary of the Central Committee of the Communist Party of Vietnam, after their talks in Beijing, China, April 7, 2015. (Xinhua/Wang Ye)
In a signed article published in the Vietnamese newspaper Nhan Dan, Xi urged the two sides to align their development strategies and work together to advance China's Belt and Road Initiative and Vietnam's "Two Corridors and One Economic Circle" plan.
He also called on the two countries to strengthen cooperation on production capacity, infrastructure and connectivity to bring mutual benefits to the two peoples.
Vietnam has an important role in the China-proposed Belt and Road Initiative, which covers Southeast Asia and is aimed at promoting common prosperity and win-win development in Asia, Africa and Europe.
People attend the 12th Sino-Vietnam Border Trade Fair in Hekou County, a border county in southwest China's Yunnan Province, Nov. 12, 2012. The five-day fair, which closed on Monday, attracted over 1,000 exhibitors from China and ASEAN member countries. (Xinhua/Chen Haining)
A joint study on the feasibility of a railway connecting Hanoi-Lao Cai-Hai Phong in northern Vietnam marks the latest progress in the alignment of strategies.
In April, General Secretary of the Communist Party of Vietnam Nguyen Phu Trong visited China. During his visit, the two countries signed MoUs to form two working groups -- one for infrastructure cooperation and one for finance and currency cooperation.
"I believe that with these working groups, the two countries can come up with tangible and workable cooperation plans on the building of infrastructure and transportation projects," said Vietnamese Ambassador to China Dang Minh Khoi.
China is the largest trading partner of Vietnam, which in turn is China's second-largest among Southeast Asian countries. Vietnam also exports a large volume of fruit and agricultural products to China. Chinese companies have a vast volume of investment in Vietnam, whose relatively low production cost has quickly transformed it into a manufacturing powerhouse in Southeast Asia. Statistics show that China ranked ninth on foreign direct investment in Vietnam as of June.
This file photo taken on June 1, 2011 shows a road bridge across the Nujiang River in southwest China's Yunnan Province. Yunnan has been building a transportation network that links its three neighbours, Laos, Vietnam and Myanmar, in an attempt to raise the province's openness to Southeast Asia and the Indian Ocean. (Xinhua/Lin Yiguang)
Experts say underdeveloped infrastructure has been a bottleneck for the Vietnamese economy, while China enjoys abundant resources including capital, technology, personnel and experience in infrastructure construction.
Through cooperation on infrastructure and production capacity, the two neighbors may further boost their economy and trade, and promote cooperation in all fields.
Last September, Vietnam's longest expressway opened to traffic, cutting by half the travel time from Hanoi to Lao Cai, which borders China. The expressway is part of the cross-border Kunming-Hai Phong Transport Corridor.
Construction on another route linking Vietnam's Bac Giang Province with China's Guangxi Zhuang Autonomous Region will start this year.