More than 30 Chinese and Vietnamese companies signed a series of cooperation agreements in Beijing Tuesday at a Sino-Vietnamese business forum, with total value of over US$1 billion.

Visiting Vietnamese Deputy Prime Minister Nguyen Tan Dung witnessed the signing of the agreements, which cover the areas of electro-mechanics, tourism, medicine and telecommunications.

Dung said Vietnam and China, as friendly neighbors, have conducted "comprehensive cooperation" in the fields of politics, economy, trade, diplomacy, national defense and culture. "This cooperation has brought concrete benefits to the people of the two countries."

According to Chinese statistics, bilateral trade volume hit 6.74 billion US dollars in 2004. The two sides have carried out fruitful cooperation in the fields of textile products, electro-mechanics and crude oil.

Dung said China is now the largest trading partner of Vietnam. "The Vietnamese government is ready to make even greater efforts to create a more favorable environment for Chinese investors." He also welcomed more Chinese businessmen to invest in Vietnam.

The forum is co-sponsored by the China Council for the Promotion of International Trade and the Chamber of Commerce and Industry of Vietnam. More than 300 businessmen from both sides attended the forum.

(Xinhua News Agency July 20, 2005)