China, Vietnam sign 10 deals to expand rail links, cross-border payments

In a bid to strengthen their partnership, China and Vietnam on Sunday signed 10 agreements to expand cross-border railway links, and boost payments and economic cooperation.

The signings followed a meeting between Vietnamese Prime Minister Pham Minh Chinh and visiting Chinese Premier Li Qiang.

They agreed to work on a technical plan for a rail link between Lao Cai in northern Vietnam and Hekou in China’s Yunnan province.

Apart from the 10 agreements, the two sides also signed a memorandum of understanding (MoU) to implement cross-border payments with the help of QR codes and an agreement to study a model for an “economic cooperation zone” across their border.

Although the two countries share historic issues, China is Vietnam’s biggest trading partner as the nations witness an increase in economic alliance.

Last month, China’s Xi Jinping held talks with Vietnam’s President To Lam. It was Lam’s first state visit after assuming power and that fact impressed Jinping who said, “China has always regarded Vietnam as a priority in its neighbourhood diplomacy, and supports Vietnam in adhering to the Party leadership, taking the socialist path suited to its national conditions, and deepening the cause of reforms and socialist modernisation.”

More from World

US National Guard starts taking control of Washington DC after Trump's contested move US says ties with India, Pakistan ‘remain unchanged’ amid Trump's tariff moves and Munir visits

Meanwhile, Lam emphasised that the relationship with China is a “key priority in Vietnam’s foreign policy” and referred to his visit to China as “a reaffirmation of the commitment of the Vietnamese Party and government to strengthening ties with China."

Vietnam’s top leader To Lam and Li agreed on Saturday to boost defence and economic cooperation, Vietnamese state media reported.

The two agreed to “maintain regular high-level exchanges and cooperation in defence, security, and foreign affairs… expanding the implementation of new mechanisms”, the Nhan Dan newspaper said.

With inputs from agencies