VNA: Though having experienced ups and downs over the past 55 years, Vietnam-China co-operative ties have been unceasingly consolidated and developed in the interests of each country and for peace, friendship, co-operation and development in the region.

The two countries have signed 44 State-level agreements and accords since the normalisation of bilateral diplomatic relations in 1991. They have also reopened air, sea and land routes as well as rail routes to create favourable conditions for the exchange of goods and tourism services.

Meetings between the two countries' leaders have been conducted annually, with visits to China by the then General Secretary of the Communist Party of Vietnam (CPV) Le Kha Phieu in February 1999, President Tran Duc Luong in December 2000, Party General Secretary Nong Duc Manh in November 2001 and in April 2003, and Prime Minister Phan Van Khai in May and October 2004. The then General Secretary of the Communist Party and President of China Jiang Zemin visited Vietnam in February 2002 and Premier Wen Jiabao, in October 2004.

The two sides have defined co-operation guidelines of "friendly neighbourliness, comprehensive co-operation, long-lasting stability, and looking towards the future" so they will remain "good neighbours, good friends, good comrades and good partners."

Apart from the exchange of visits by high-level delegations, Vietnam and China exchange more than 100 delegations at ministerial and provincial levels annually to promote mutual understanding and expand co-operative ties.

The two countries have seen steady development in economic and commercial co-operation. The improvement of the business, commercial and investment environment has created favourable conditions for bilateral trade. As a result, two-way trade increased from US $266 million in 1992 to US $4.87 billion in 2003, and about US $6 billion in 2004, surpassing the target of US $5 billion set for 2005. Vietnam and China are striving to reach US $10 billion in annual two-way trade by 2010.

In terms of investment, Chinese investors have injected US $540 million in 267 projects in Vietnam. In 2003, China's foreign direct investment (FDI) in Vietnam rose markedly, standing at US $146 million in 61 projects, ranking fifth among foreign investors in Vietnam. In eight months of 2004, China invested US $50 million in 43 projects.

China is also an official development assistance (ODA) donor of Vietnam. It has so far provided Vietnam with 210 million Chinese yuan and US $18.42 million in non-refundable aid, which went mainly towards health care projects. The country has pledged around 1.49 billion Chinese yuan and US $40.5 million in soft loans to help upgrade a number of Chinese-built and co-operative projects in Vietnam.

Vietnam and China actively installed markers along their common border in furtherance of their Land Border Treaty signed on December 30, 1999. They signed agreements on demarcation of Vinh Bac Bo (Gulf of Tonkin) and fisheries co-operation on December 25, 2000 and a supplement protocol to the two agreements on April 29, 2004. These agreements took effect on June 30, 2004.

The two countries' co-operation in education and training, culture, and sports has also been increased.

Both countries have been striving to continually develop bilateral relations in order to meet the two peoples' aspirations and for peace, stability and development in the region and in the world.