China and Vietnam have set a goal of increasing their bilateral trade to 10 billion US dollars in 2010,Chinese Foreign Minister Li Zhaoxing said here Saturday.

The two governments also vowed to complete on-going projects and explore new areas for cooperation between China and Vietnam, Li told reporters.

The agreement was cemented during the visit of Chinese Premier Wen Jiabao to Vietnam which Li described as fruitful, effective and pragmatic. During his visit, the Chinese premier attended the fifth Asia-Europe Meeting (ASEM) on Oct. 6-9.

"The trip demonstrates China's peaceful foreign policy of good-neighborliness and greatly advances relations between China and other Asian and European countries," Li said.

As relations with the European Union and the Association of the Southeast Asian Nations have been furthered, China will continue to enhance all-round cooperation with Asian and European countries so as to make a bigger contribution to the peace and development in the two regions, Li told reporters.

Li noted that during Wen's visit to Vietnam, he had reached consensus with the Vietnamese leaders on safeguarding and developing bilateral relations.

He said Wen highlighted the strengthening of good-neighbor relations which conforms to the top common interests of the two countries, helps develop their economies and contributes to the peace and development of Asia and the world.

The premier said consensus and cooperation are pre-eminent in Sino-Vietnamese ties. The two sides should follow the guidelines of "long-term stability, future orientation, good-neighborly friendship and all-round cooperation," and remove their differences through dialogue in the spirit of mutual understanding from a long-term perspective, Li added.

Vietnamese leaders vowed to further develop the friendship and cooperation with China. They reiterated Vietnam will adhere to the one-China policy, oppose any activities to separate Taiwan from its motherland and will not build up any official links with Taiwan, Li said.

During Wen's visit, the two sides signed eight documents. The two countries agreed to speed up the land border demarcation and implement the two agreements on demarcation and fishery cooperation in Beibu Bay.

Wen also laid the foundation for the friendship palace, a venue for holding exchange activities between China and Vietnam, sponsored by the Chinese government.

"The visit meets the goal of strengthening the good-neighborliness, political trust and all-round cooperation between China and Vietnam," Li concluded.

On the fifth ASEM summit, the minister said the meeting was held against a backdrop of the complex international situation and the changing milieu in Asia and Europe. The ASEM completed its first expansion with 13 new members and marked a new era for Asia-Europe cooperation.

Leaders adopted at the summit the chairman's statement, a declaration on a closer economic partnership between Asia and Europe, and a declaration on dialogue of culture and civilization.

Wen, who attended the two-day ASEM for the first time as premier, delivered a speech at the meeting giving proposals for advancing political dialogue, economic and trade cooperation and cultural exchanges between the two continents.

The proposals on holding a forum among the leaders of youth organizations and an Asia-Europe trade and investment fair were accepted by the summit, Li said.

Wen met with leaders from South Korea, Britain, Spain, Japan, Germany, the Netherlands and other countries during his stay in Hanoi. All stressed their desires to expand cooperation with China.

At the summit, the premier also introduced China's socialist market economy and its policies on energy and exchange rate. He reiterated China will continue the reform and opening-up drive and honor its commitments to the World Trade Organization, Li said.

Source: Xinhua